Benefits of Letting your Second Home
If you’re thinking about buying a holiday home, or already own a second home, there are plenty of benefits to opening your doors to visiting tourists, take a look at some of the benefits of holiday letting your second home….
Earn an income from your property
The demand for self-catering accommodation is on the rise and it has been for several years, there’s never been a better time to start marketing your property and earn an income from it when you not in use by yourselves.
During the peak summer period, you’ll be able to charge a premium on your weekly rental (sometimes in excess of five times winter rental rates). Many people will use the winter months for short 3 night stays, you’d be surprised at how many people choose to take a winter break in the UK.
Enjoy potential tax benefits of holiday letting
A key benefit when it comes to holiday homes, as oppose to renting out other types of property, is that if you let out a furnished holiday home in the UK, your rental income can be treated more advantageously for tax purposes than from other rental income.
Help the local economy
When visitors stay in your property they’ll inevitably spend the majority of their money in local shops, pubs, restaurants and visiting local attractions, helping to boost the local economy.
Remember you can have a holiday too!
If you’ve bought the perfect property one thing you’ll also want to do is enjoy it! Letting your property out as a furnished holiday let means that you’ll also be able to visit and stay in your own property from time to time, allowing you to have a break in your very own holiday home. If this is the first time you’ve decided to let out your holiday home it’s a good idea to experience holidays in your second home as your guests would, viewing it from their perspective will help you decide on improvements that’ll make your property even more desirable to potential guests and you’ll be able to make any changes prior to the first booking.
Won’t it be a lot of work?
Owning a holiday home needn’t be a stressful experience. There are a large number of holiday letting agents and property management companies such as ourselves who’ll be able to look after the entire needs of your property, from changeover cleans, taking payments and dealing with potential disputes, to marketing your holiday home and generating bookings.