Many properties can be let successfully as self-catering or holiday let properties.
Ideal properties are existing holiday homes, 2nd homes or “pied a terres”. Properties in city centres, near tourist attractions, conference venues, universities all have a market for people wanting to stay in self-catering accommodation for short (up to a few months) periods.
Properties let as student accommodation from October to June, can be let as holiday lets in the summer. Existing properties let as 6 month shorthold assured tenancies can be good holiday lets if they are in a suitable location.
Letting their properties as self-catering properties can be very useful for “accidental landlords” to enable them to generate income from their property whilst retaining control and having access to the property themselves. For example Joe has a nice flat in central London that he bought about 18 months ago. He’s furnished it well and doesn’t want to sell it just now, even though he’s just been offered a great new job in Manchester. Whilst he thought letting the flat in London for 6 months, he was worried about the state it would be in after the let completed and he wants somewhere to stay when he comes down to London to visit family and friends. He’s decided to let the flat as a holiday let, so it’s only let for a week or so at a time. It’s cleaned and checked after every visit, and when he wants to coem to London, he simply books it out for himself.
