Investing in holiday lets? Here’s what staycationers really want
If you’re a landlord looking to invest in a holiday let, you need to ensure your property attracts visitors amid fierce competition.
So knowing what they want is valuable information.
Hodge Bank has revealed the top 10 holiday let must haves, according to those who use them.
What holidaymakers want
Being close to the sea is the most important feature, with 49% of respondents focusing their search for the perfect holiday home on these properties.
A nearby beach is almost as important, with 46% saying this is top of their wish list.
In fact, location was overwhelmingly the key feature holidaymakers want, with proximity to shops, restaurants and pubs all making the top 10 holiday let must haves:
- Near the sea 49%
- Near a beach 46%
- Near shops and restaurants 38%
- WiFi 38%
- A view 37%
- Swimming Pool 30%
- Parking 29%
- Walking distance to a pub 29%
- Having towels provided 28%
- Garden 26%
Emma Graham, business development director of Hodge, said: “It’s clear from our research that aside from location, simple home comforts such as WiFi, towels and a decent parking space are all key attributes for a successful holiday let property.
“You don’t need a fancy hot tub or high-end furnishings to create an attractive holiday let. Just a great location, a decent view and parking space – oh and some nice towels – and you will have a holiday home ready to rent out successfully all year long.”
More than a third (36%) of those surveyed said they would love a holiday home of their own, but most (74%) did not know the tax advantages of owning a holiday let.
In fact, owners of a holiday let or portfolio of property lets are able to deduct the cost of a mortgage from any profits before calculating income tax, alongside expenses including council tax, utilities, maintenance, cleaning costs, property management costs and advertising too.
A property must be classified by HM Revenue & Customs (HMRC) as a Furnished Holiday Let, however, to qualify for the tax relief.