Yields – Long term let vs holiday let?Make Text Bigger
I have inherited some money and am looking at advice about the best investment vehicle for it. I was initially interested in buying a place in North Wales / Anglesey (we live just over an hour from the area) with a view to renting it out as a holiday let with us having the option of using it during quiet times.
Some places yield high prices during peak seasons. Downsides are that we’d have to pay management fees / agency fees and there is a high amount of wear and tear I guess.
The other option would be to buy a place close to where we live and let that out on a long term lease. Advantages are that if there are any problems, we’d be round the corner and could sort them out.
Any ideas of which would be the better investment vehicle.
I am a basic rate tax payer and have one other property on a long term lease.
Thanks in advance
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.