What is the difference between a holiday let and a residential let? Generally, a short-term holiday let is a property that is let out to holidaymakers for short periods, usually from three nights, a few weeks or up to 31 days. A residential let is typically a property that is let for 12 months at a time. As with any property investment, the rate of financial return will depend on several factors, such as the initial amount invested in the property, its features, the location, market demand and pricing strategy. Location is key Holiday lets are especially ‘location sensitive’ and those close to the sea are always popular. Quirky, historic, or luxurious properties also tend to be more popular among those looking for places to stay. Log cabins, pretty seaside cottages, ultra-modern five-star houses, and anything slightly out of the ordinary stands out and attracts attention when renting out a holiday home, however, the right location can make a huge difference for a holiday let. People don’t mind ordinary if the location is close to a beautiful beach or a few minutes’ walk from a major attraction. Looking the part As a holiday let is not going to be your home in most instances, it is important to keep décor as neutral as possible. Decorative themes such as seaside shabby chic can be popular though it is advisable to avoid bold colours and the temptation to ‘over-personalise’. Simple, comfortable furniture is a must and, as sofas and beds are likely to see greater wear and tear over time, a landlord should be prepared to have these cleaned regularly and replaced every three to five years. “Holiday lets are especially ‘location sensitive’ and those close to the sea are always popular. Quirky, historic, or luxurious properties also tend to be more popular among those looking for places to stay.” Guests will expect all mod-cons when they go on holiday and look for many of the comforts they enjoy at home. The kitchen should be well fitted with a good selection of dinnerware, cookware, pots, pans, cutlery and glasses. Dishwashers and other white goods are also essential. It might be advisable to invest in an appliance repair policy, so if anything breaks down, you can have it fixed fast as these items are often well used. Broadband is a must-have these days and many people won’t even look at a holiday let without internet access. Guests will also expect a working TV with a good specification, and you might also consider adding a subscription television service if you are looking to attract families to your holiday let and make it a home from home. 29 boydens.co.uk Lettings
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