22/10/2023
The holiday let sector was supercharged during the pandemic when travel restrictions spawned a boom in Staycations. If you're thinking about starting a holiday let business one of the first steps is to calculate your potential income and total costs.
For potential income, look at what similar properties in the area are charging per night and depending on the property location estimate how many nights per week or month it could be rented and whether this will be seasonal or not, e.g. seaside properties will be significantly busier during summer, whilst city properties popular with tourists may have similar demand all year round.
For costs, include cleaning fees, property maintenance, council and utility bills, plus rental platform commisions. Holiday let bookings are largely secured through rental platforms such as Airbnb, Vrbo and Booking.com, however their fees can vary significantly depending on the support required but is typically between 14% and 20%.
For more advice see www.safeukation.com
