Why Consider Converting to a Holiday Letting?
Even after the coronavirus pandemic, domestic UK tourism remains buoyant. Renting out your holiday home allows landlords to charge reasonably higher prices and a faster rotation of occupants. What’s more, holiday letting does not only have to be in scenic locations. Many areas convenient to tourist spots scenic areas and AONBs (Areas of Outstanding Natural beauty) can potentially pass as a holiday letting. Renting out has its advantages though there are a couple of things to consider first.
Advantages and Considerations
Tax relief advantages vs long term letting are numerous – although it has to be an FHL (Furnished Holiday Let) to qualify. Accounting fees, advertising, insurance, loan interest, general repairs, cleaning, energy, internet, gardening, travel expenses are all tax deductible. Then rent relief is now an option because an FHL is a business, hence the landlord does not pay council tax when the property is vacant. Capital Gains Tax allows you to pay a lower tax rate and entrepreneurs relief may be available. These are some avenues to research – they are too numerous to list here, but Reddbox is here to guide you in the right direction.
Features Holidaymakers Look For
Be sure to have at least a couple or more in your letting:
- Traditional interiors – Many holidaymakers look for features like exposed beams, stone walls andlog fires
- A garden – Families enjoy hosting and relaxing outside
- Nearby amenities – Local shops, pubs or restaurants in walking distance are always popular
- Off-road parking – As close to the property as possible
- Quality – Take care to decorate, furnish and equip your property to the highest standard to get positive feedback and enjoy the greatest return
- Pet friendly interiors – Interiors accommodating to pets are a major plus for families that bring dogs on holiday with them.
- Added extras – Holidaymakers enjoy hot tubs, Wi-Fi and even a games room can help to increase bookings
Our offer: Download the app and start saving time managing your properties. Follow the screens to provide your details, and that’s it. Some of the key features why you should consider Reddbox are –
- A completely app-based, super simple service booking process.
- Options to pay for the service over a few months without any additional interest or fee. See our rates here. Be quick, we are running promotional rates at the moment.
- You can book the service seven days a week, which means no need to disrupt your busy day.
- A very transparent cancellation and refund policy.
- And the best one – Reddbox will automatically organise all the relevant documents such as invoices and certificates.