Posted on 20/09/2016 by David
If you’ve got a holiday cottage which you only use for those few weeks in the year – there are more options than leaving it empty for the other 50 weeks!
Here are 6 reasons to let your North Wales holiday cottage…
The Barn, Bala
1. Earn Some Money
Leaving your house empty is of no value to you and if you have a mortgage, you can be paying out much more than you would like. Letting your cottage can often lead to your cottage paying for itself over the years – the perfect solution.
2. Keep Your House Ticking Over
If you leave your property empty for long periods of time, it can actually cause more harm than good. Having other people in your cottage ensures that the house remains aired, heated and maintained - overall, leaving the fabric and structure of the building in a better condition than with long periods of unoccupancy.
3. Don’t Pay Double Council Tax
Did you know that if you rent out your house for the required number of days each year, you can apply for business rates instead of council tax? Some councils in Wales are now charging a double rate of council tax to second homes which is a significant cost. If your house is used for holiday letting you can be classified as a small business and pay business rates instead. At the moment small businesses in Wales are zero rated so you will be much better off.
4. Increase the Value of Your Property
Owning a holiday cottage will ensure that you are making gradual improvements and repairs to your cottage, that you would perhaps not do when only using the property for personal use. Not only can this increase your ongoing booking revenue, but also increase the value of your home if you come to sell it on. Having your cottage available for sale as both a standard house, or as a business, increases the saleability of the property as a whole – a win win situation!
5. Help the Local Economy
Letting your holiday cottage not only helps you financially, but it encourages your guests to spend money at local shops, attractions and events which directly contributes to the local economy.
Renting out your holiday cottage doesn’t mean you can’t go there. We’ll work with you to get the most out of your investment and your time – simply book up all the weeks you want to visit and rent out the rest!
Have we convinced you to let your holiday cottage? Get in touch if you would like to talk through your options or request an information pack today!