If youre planning on purchasing a home to rent out to holiday makers, there are a number of things you need to consider to make sure that itll be a tempting offer and attract customers once youve got it on the holiday market. To give you a headstart, weve put together some top tips for what to look for when hunting down your new holiday home, with some help from the experts at Rent my Cottage - as well as a few things to think about while youre looking!
Easily the most important factor to consider is location, and youll want to do lots of research into the current market to find out which destinations are the most lucrative to make sure that your new holiday home venture is a success. You should also make sure its close to you if you plan on maintaining it yourself, or at least check that you can arrange cleaning and management of the property in your absence.
Wherever you choose, you should also try to imagine the type of people who are likely to visit the area, and think about what they might need - visitors on a beach holiday to Cornwall will probably have different requirements to ramblers in the Scottish Highlands!
When youre on holiday you rarely want to have to think about chores, but one of the benefits of a holiday home is that you are entirely self-sufficient. For this reason, holiday-makers will be looking for a home thats easy to look after and live in, so make sure that facilities like cooking appliances and showers are simple, modern and impressive - nobody wants to stay in a kitchen thats worse than the one theyve got at home!
Before you can rent your home out, it must comply with national safety standards, as it is your duty as a landlord to make sure a property is fit for use. This includes meeting the following legal requirements:
· Gas Safety (installation and use) Regulations 1994: To ensure gas fittings are in good condition and well-maintained by a Gas Safety Register-approved engineer.
· Furniture and Furnishings (Fire) (Safety) (Amendment) Regulations 1993: To ensure that items of upholstery such as sofas, beds and armchairs meet the required level of fire resistance - this should be noted on the label of any furniture you buy.
· The Electrical Equipment (safety) Regulations 1994: To ensure that all electrical items within the property are safe for use. When it comes to buying a property, it might be worth requesting that an electrician is allowed give the house a once-over before you finalise your purchase.
Its always worth joining online forums and communities of holiday home letters for more tips and advice, as youll find that everybody has their own way of doing things. Do you have any advice to share with first-time holiday home buyers? Let us know in the comments below!