Registration and planning consent needed for holiday lets
3 years ago | 5 comments
Short term/holiday lets?
12:05 AM, 19th April 2023, 3 years ago
14
Hello, The rent from services like AirBnB are far higher than regular rentals. I estimated I’d only need to have my property occupied for around 1/3 of the year to make the same rent that I’d get for longer term rents.
But, the costs are higher – regular cleaning, provision of towels/sheets etc, providing and maintaining furniture, ‘white goods’, TV, internet, gas/electricity etc and a higher risk of damage and more regular re-decorating. The property would need to be occupied for far longer than just matching the rent would suggest.
And, of course, I can’t guarantee sufficient occupancy – maybe no-one wants to stay there (a 2 bed bungalow in Kenilworth).
Does anyone have experience of this type of rental and would like to share some advice/experiences?
Thanks!
Adam
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Member Since August 2013 - Comments: 18
8:40 AM, 22nd April 2023, About 3 years ago
Really interesting perspectives above. I considered adding a holiday let to my portfolio, started the research by seeing what competition there was locally, and decided that there was too much.
@op how many similar let’s are there in your area on Airbnb, cottages dot com, vrbo etc etc
I hadn’t realised quite how much extra work it was for a fairly modest extra gain. So thanks to the earlier posts ?
Member Since January 2015 - Comments: 1447 - Articles: 1
12:44 PM, 22nd April 2023, About 3 years ago
Short term rentals are about to get as screwed by the government as the PRS.
There are currently 2 consultations out for public comments.
1 consultation proposes a requirement for planning change of use. The other consultation will limit short term rentals to either 30/60 or 90 days per annum plus a short term registration scheme and possible annual licence
https://www.gov.uk/government/consultations/consultation-on-a-registration-scheme-for-short-term-lets-in-england/consultation-on-a-registration-scheme-for-short-term-lets-in-england
https://www.gov.uk/government/consultations/introduction-of-a-use-class-for-short-term-lets-and-associated-permitted-development-rights/introduction-of-a-use-class-for-short-term-lets-and-associated-permitted-development-rights
Member Since December 2022 - Comments: 13
6:23 PM, 23rd April 2023, About 3 years ago
Reply to the comment left by Judith Wordsworth at 22/04/2023 – 12:44
Thankyou Judith – this is really useful
Member Since October 2013 - Comments: 19
1:22 AM, 24th April 2023, About 3 years ago
I have done both, sort of! I had a property on holiday lets, but had it through a local holiday let company (it was before Air BnB was a big thing).
We are in a high tourist spot during the summer, so weekly rent was equivalent of monthly. Winter, however, was much quieter. I found the best solution was to put it on a ‘winter let’ for the 4-6 months of winter. Rent was lower than standard monthly. This was relatively simple in our location.
Downsides – cleaner and laundry – If you aren’t local to step in if they leave you in the lurch, its problematic. You need to keep a reasonable level of quality to get good feedback. Stuff gets broken and you need to be able to replace.
I wasn’t around and it became too stressful for my mum to handle all the issues (even with an agent – they only really manage the bookings), so I put it back to AST. Overall, I would say the annual profit was similar between both.