There’s a lot of talk about the gold in holiday lets. And there’s no doubt it looks tempting. If you’re trying to weigh up the long term v holiday let option, here are some considerations:
- With an agent managing a long term let, you are completely hands off – free to get on with life with no worries. At Duncan McKenzie Property we take care of everything – marketing, legal issues, deposits, maintenance, inspections etc. No more red-tape for you.
- Long term lets tend to run on a minimum occupancy – starting at 3 months… and tenants tend to stay for a considerably longer period if all is well with your property. This means you keep costs down with less remarketing admin, less maintenance and less paperwork.
- Know your tenant – with a long term let, tenant checks and references are standard, which gives you greater peace of mind that you know who’s going to be living in your property, with care.
- Handling fees – if you have an agency to manage your lets, handling fees on holiday properties will typically be greater than long term lets due to increased administration and letting turnover.
- Insurance – Insurers like to know a property is occupied. When there’s a high occupancy turnover, there may be times when the property is vacant for longer periods of time… and therefore a chance of greater expense.
At Duncan McKenzie Property, we understand the benefits of a long-term let as that’s our specialty. We hope this has given you some impartial food for thought. Contact us at any time for a no-obligation chat – and rest assured you’re in safe hands.
