We often get asked for rental projections and opinion from holiday let buyers here in Cornwall on properties they are considering purchasing to holiday let. We’re always happy to help of course, here are some of the often asked questions and our thoughts.
Well it does help of course, potentially more bookings and the ability to charge more for each stay. But there is a catch – the initial purchase price will be higher. Will the property’s annual rental return be proportionally higher in relation to the purchase price?
Google street map is a great tool for noseying around a neighbourhood; it’s also a great tool for your potential guests to see if your cottage is next to a nightclub, abattoir or post depot (noisy early in the morning). Of course it can be great tool also to show how close the property is to the beach…
So put yourself in the mind set of the holidaymaker and check how Google have photographed the road and the surroundings. It’s also a helpful tool to shortlist properties if you are trawling Rightmove for that dream pad.
Do your guests want to drive 10 miles to the nearest village to find the convenience store closed for lunch? Splendid isolation is an appealing message, but consider how practical the property is for self-catering and where the local petrol station, cash machine and restaurant are. Being able to leave the car when you venture out is also an attractive message.
How many other holiday lets are there in the area and of a similar size and sleeping capacity? If there a lot of similar properties, it could force rental prices down through competition. Look on their availability calendar to see the level of future bookings.
Of course Beach Retreats are happy to help pick the perfect coastal retreat; we look forward to hearing from you.