The holiday buy to let sector is booming. Thanks to sites like Airbnb it has never been easier to find tenants for short-term accommodation. It’s a highly competitive business, but if you own a nice property in a popular area, tenants won’t be in short supply. But despite the obvious attractions of letting properties out for weekends, mid-week breaks, and a week at a time, holiday lets are not all plain sailing. In fact, they can be hard work at times!
When Things Go Wrong…
One owner who runs three holiday lets has offered up some fascinating insights, some good and some not good at all! Her properties are up-market, so they tend to attract a more discerning client. Unfortunately, money doesn’t necessarily equal class, as she found out when a well-known band hired one of the properties. More people than expected showed up and the place was trashed. The band never even paid for the damage – apparently, the band’s manager said he was out of the country and, therefore, too busy.
Another party of guests brought their beloved pooch along. The landlord happily accepts dogs, but this particular dog spent the week chewing a very expensive rug. The rug had to be replaced. Other guests have spilled drinks on carpets and made messes they didn’t ‘fess up to.
But it isn’t all bad. One couple put up without a working TV and no hot water for several days, without complaint. In lieu of evening entertainment, they set to in the garden instead. This lovely couple are now annual guests ‘on the house’ – and they still look after the garden!
It Takes a Team to Run a Holiday Let
One thing this landlady is happy to admit is that she needs a lot of help to run her business. Cleaning the properties after guests have checked out takes time and effort. Everything has to be spotless before the next guests arrive, so for a few hours, everyone is run ragged, vacuuming exposed ceiling beams and scrubbing the hot tub.
She also points out that using an agent to market properties is not such a good idea, as new property owners are more likely to appear higher up in the property listings. She recommends doing your own marketing. Thankfully, this isn’t too difficult these days, as owners can set up a website and use social media and PPC to funnel traffic to the website.
Do you run a holiday lettings business? Tell us about your experiences!
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