This week we were off on holiday – or rather, we were examining whether property lets are a good investment.
We didn’t get into actually researching buying abroad (we covered that in Episode 34), because holiday lets can be in the UK too – and they can be in city centres as well as on the coast.
We identified a lot of advantages to holiday lets:
- You can stay there yourself (outside peak season)
- One bad tenant can’t cause you so much trouble
- If you get your numbers and your marketing right, you can make a lot more money than a normal let
But some downsides too…
- Set-up costs are higher: you need to provide everything
- Your income is uncertain
- There’s a lot of work involved
- Especially abroad, local laws may change and cause you problems
We also listed lots of things you need to take into consideration before getting into the holiday letting game, and what type of investor it might be suitable for.
Take a listen to the episdoe to get all the details!
News this week
Is confidence returning to London’s commercial property market? The FT reports that while the iconic Gherkin has gone into administration, the HSBC Tower has been put up for sale – and the very act of putting it on the market suggests that confidence is growing.
The commercial sector normally lags a residential recovery, so does this mean that we’re even further along the road towards a boom than we might have thought?
Resource of the week
The site allows you to choose a location, then step back through time to look at old maps and see what has changed over time. So by going back until a development isn’t there anymore, you can tell to within a few years when it was built.
Mentions this week
- Thank you to everyone who came to our Liverpool meetup last week! We had a great time meeting everyone, and we’ll be back soon.
- Keep an eye on The Property Hub for other opportunities to meet fellow listeners. A listener is trying to put together a St Albans meet, and Rob is arranging something in Edinburgh.
- We’re doing a live Q&A tonight (1st May) to celebrate the re-opening of The Property Hub Plus. It’s at 7pm, and all you need to do is get yourself along to thepropertyhub.net/webinar.
Join the conversation!
Have you had any experiences, good or bad, with holiday lets?
Is it something you’d consider getting into? Are there factors we didn’t mention?
We’ve got a dedicated thread for this episode, so join the discussion in The Property Hub!
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