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tina v
03-09-2006, 19:16 PM
Forgive me for repeating myself but, a few months back, I asked the same question that I'm about to ask now only for this site to promptly crash. Therefore I never did get to see the replies (if there were any) and neither can I find anything on the subject when I search the forum................

..........does anyone have any views on whether it is more advantageous to landlords (ie time-wise and also financially) to choose holiday lets over AST's? The reason that I ask is that there seems to be a healthy market for both types of lets in my area but I've only ever let on an AST basis. I would be really grateful therefore to hear from any experienced landlords of any obvious disadvantages to holiday lets before I go any further.

Thanks in anticipation.

islandgirl
03-09-2006, 20:14 PM
We do both. Holiday lets = week or 2 weeks only, no problems with bad tenants, much higher monthly income (in season...), take a deposit and refund if no damage - simple system. Bad points - empty weeks in the winter, need someone to do the turnaround on sats if you cannot do it yourself. Has to be fully furnished to a good standard.
AST = chance of bad tenants. Non-payers in for at least 6 months. Lower income per month. Good points - income year round.
Any other specific questions pls ask
best wishes
ps - forgot to say - also holiday lets = more paperwork etc. However weigh this against the amount of time and effort and paperwork it takes to evict a bad tenant....

Editor
04-09-2006, 14:23 PM
You should find the answers to your question on Holiday Lets here:
http://www.landlordzone.co.uk/holiday_lets.htm

P.Pilcher
04-09-2006, 15:07 PM
Tom:

I hate to be a pain, but as I am doing my research on holiday lettings at the moment, I was delighted to read your post above with regard to information on such matters on your site. On reading it I learned a lot and found it very useful, but then I wondered why I couldn't find it myself. It is of course a page which is part of the main landlordzone site (landlordzone.co.uk) but if you go onto the home page and try to get to it, I found it impossible. I tend to end up at /dir/holiday-lettings and I can find no link there to get to holiday lets.htm I am sure it must be there, but if I can't find it then how many of your other "customers" have the same problem. The page that you refer to in your post above only really covers the tax side of holiday lets. I wonder how much other useful information there is on the subject hidden away somewhere else on your site which we can't find. For that matter I have in the past often read a most useful piece of information on your site as a result of a URL published in these forums, and when I have wanted to refer to it months later, can I find it?? I bet others have this problem as well!
Could I make therefore a polite request for somebody on your staff to have a look at your site indexing. It would make your site even more useful than it is which would hopefully raise your hit rate further and therefore your advertising income. Even the search facility would not throw up the page on holiday letting referred to by you above.

Kind regards and thanks for a wonderful set of fora (forums)

P.P.

Editor
04-09-2006, 16:16 PM
PP - You have a good point there and I'm well aware of the current inadequacies of the indexing system on LandlordZONE.
The plan is that over the coming months we will do a complete overhall of the indexing and site mapping system on the site. I also want to do a comprehensive FAQ section.
As you rightly say there's a lot of information there that does not always come up - sometimes it does on Google but not always - so we definitely need an improvement.
Funnily enough I just did a search on the main Site Search (which is more comprehensive than the Forum Search) at:
www.landlordzone.co.uk/zoon/search.php for holiday lettings and the article came up number one.
Oh well, it never seems to happen when you need it to!!!

Ericthelobster
04-09-2006, 16:17 PM
I bet others have this problem as well!Hear, hear!
Totally agree with PP; have often thought the same myself

Mrraybarton
04-09-2006, 16:30 PM
I have just sold an apartment in France which I let pot very successfully for holidays.I have just bought a property here to let out and the only reason I have not let for holidays is I am not near enough to a coast or similar place of interest 35mls. It is very satisfying to let for holidays you are selling holidays and I never had a bad tenant and had a lot of praise. The dearest item is advertising which needs to be heavy. Changeovers can be a problem unless you mare fortiunate to get the right person to do them You need to be on your email at least once every day unless you employ ( very expensive ) a management company. I found bit very rewarding and am in fact very apprehensive about letting on 6 month basis.The secret is to get on as many websites as possible particularly the free ones , take a 6 months free trial in the summer and the discontinue in the winter though you will havee to use different ones the year after.Depending on where you are write to societies for example fishing or ornithology. Good luck:)

Surrey
04-09-2006, 20:19 PM
My sister has a place near the coast made up of several small holiday flats. These are very popular during the summer months let on a weekly or fortnightly basis and as stated above, has high time overheads for the cleaning etc at changeovers, but she also has a high percentage of repeat bookings so knows many of her guests and very rarely has any trouble with new guests, though 'no-shows' are a bit of a pain. She views it more like being one step down from a guest-house or hotel as there is quite a lot of face-to-face contact, phone calls and paperwork required, but as stated the returns are higher week to week.
In the Winter she takes on 6-month tenants on an AST basis, often single people or those who are getting housing benefit so the benefit is paid directly to her. Because the properties are specifically holiday lets she is able to be more forceful with the 6 month period on the winter lets (but I'm not sure how this is done). She usually allows a few weeks between the end of the winter let and her first summer booking to do any redecorating and/or repairs but still finds this a very satisfactory way to have the property earning year-round, although she has had some absconders. For the winter lets, particularly as she is dealing with the less well off end of the market, she will collect the rent weekly in person, as this also allows her to gauge whether the tenants are looking after the place ok and sticking to the terms.

Both have their advantages and disadvantages and it does depend how much of your own time and effort you are prepared to put into it, particularly your weekends during the summer months. Are you prepared to spend a couple of days each week cleaning other people's toilets and washing bed linen? If not, don't do the holiday lets.

islandgirl
05-09-2006, 08:20 AM
dont agree totally about the face to face stuff. Our holiday let is over 300 miles from where we live and I have not had to clean it yet! It is all down to getting excellent people to do the turnarounds and being at the end of the email/phone.
we don't use agencies and do everything ourselves in terms of bookings and get lots of repeat business.
As with all things, there are a multitude of ways to skin this particular cat.

athorley
06-09-2006, 16:32 PM
I found a pretty cool site, to overcome those high housing prices. Its something Im thinking of doing, to Co-invest with another person and buying a portfolio quicker. Ive seen a few sites for this. The one i used was gohalves.co.uk