advice for running a holiday cottage

MySweetMarie

Hello,

Does anyone have some advice on 1) purchasing, 2) learning to operate and 3) finding the resources on how-to become a successful business woman in running my own holiday let? We live up in the northeast and our home is on the market, which admittedly, has been terribly slow. But once we sell, we want to relocate to Norfolk/Suffolk and both of us wish to go into our own businesses; mine, a holiday cottage and my husband's, his own IT business. We don't know whether to look for something small and affordable in a nice area to get the business going straight away and renting something for ourselves close by to take care of the business.....or to try finding a cottage for ourselves with an annex or outbuilding to make into a holiday let. That could prove very costly, however, since we would need quite a bit of money to pay builders, etc. Truthfully, we don't have the money to do that. So, should we look for something that's already been established?

I know it sounds insane that we want to just up and move once our house sells but we really want to get ourselves down there....it's just that we really don't know where to start. I've got books on how to do it but I don't know if I'd need to take classes as well. Up here, nothing of the kind is even available. I'm expecting some informaition from the advice of an estate agent down there and that should answer some questions but since we're basically not even at the starting line just yet, I still would like to be as prepared as possible in order to get my business up and running.

I just don't know where to begin and would truly appreciate some advice. Thank you for any help.

PasturesNew

Buy a place down there to rent out - and get a nice caravan .... when it's let out, tow your caravan to a good local site, when it's not let out you can live in the holiday let yourself. That way you're minimising your outgoings and risk.

My neighbour's first year gave him 8 weeks of bookings. He put it entirely with a local/active holiday lettings company, who had marketing/a website already in place.

It's been empty since the end of last August now. Maybe he'll get a week's booking at Easter... we'll have to see.

lagoslife

I highly recommend spending some time reading at http://www.laymyhat.com/forum/index.php

It's great resource for holiday let owners.

Contacting a local holiday cottage letting agent in the area that you are considering would also be a good starting point. They should be able to advise on the market demand, expected returns etc.

There are easier ways of making money, but holiday letting can also be enjoyable

lincroft1710

How much money are you expecting to lay out to buy, furnish and equip your holiday cottage?

MySweetMarie

Thank you, everyone. I really don't know, as my house is on the market but we haven't sold it yet. I guess I should have more information than this but it all depends on when my house sells and what we get for it. It's just that I figured we've got to start thinking about things sometime and I wanted to get as much info as possible....to learn all I can beforehand.

ButterPie_2

Bear in mind that prices in the north east are a lot more expensive than down south as well. I'm not sure that one holiday let counts as a "business" as such, it is likely to be pocket money at best, unless you have a massive USP?

MySweetMarie

Yes, I can understand what you mean when you say that one holiday let not really a business....something like Bill Cosby's take on only having one child doesn't really count as a 'parent'.....he was joking, of course.

I really need to start out small before going into something overwhelming. To get my feet wet first, so to speak. If it works out for me and I love it as much as I think I will, then I'll perhaps do something about it. For now, the pocket money as you say will be a good start.

Something will work out for us, I'm sure of it. Thanks again.

altyfc

Hello again MSM (we've already spoken via laymyhat). I disagree regarding one holiday let being "pocket money at the best". Do your research and choose carefully and it can be far better than that. We are just nearing the end of our first year with our let and have enjoyed over 70% occupancy. The year ahead is mostly booked up now and it's looking like we should top 90%. If you know what you are doing (I work in the online travel industry as my day job which helps), it can be a more than viable proposition.

Pat69

Try and imagine you want to book such a property and write down all the things which you would like.

Good website - tested by people who are not familiar with the product
Quality pictures and enough of them - not hundreds but enough
Graphical view of when the property is booked and available - blocks of red and green work well
Availability and website updated regularly
Easy payment options. You may not be able to take credit cards directly but you certainly can do with PayPal and similar
Give out a free phone or landline number. You can do this via Skype and redirect it to any number you wish, all managed from the web
Put up some links to local attractions. Better still, you write some notes on all the attractions
If there is a Trip Advisor for this business then get on it ASAP and monitor all feedback
When buying towels, cuttlery, bedding etc. if you do, then don't buy the cheapest tat. Research how hotels do it and what quality they use
Add extras. Bottle opener, enough plates etc., hair drier perhaps etc. Things people will remember and things you can highlight on your website
Don't be anal about breakages and damages. Set your prices high enough so as to be able to replace when necessary and build a good reputation

Some ideas

Sallys_Savings

A little ahead of the game, but when we have hired cottages in the past the ones that stand out for us are:

1. Those who give local information....i.e walks nearby, a playground, shops, pubs, doctors, vets, dentists etc. local attractions.

2. Those that go that little extra mile (but doesnt cost much) ...we have stayed in places that have left a fresh baked loaf or cake on arrival. One lovely cottage when we arrived there on the kitchen side was 4 cups and saucers, with t bags/sugar/milk in fridge and homemade cookies. We stayed in another that had a hand written notelet addressed and hand written personally to us wishing us a lovely stay etc with daffodils in a vase next to it. I think this sort of thing really does make a difference.

3. Accommodation that has just not the bare essentials ..i.e. bottle opener, hair dryer, egg cups etc

4. Childrens toys / family games / outdoor toys / childrens books ..... You dont have to spend a fortune or buy lots , just pop along to a car boot sale and see what you can find. We've been to one place that even had bikes in the shed to borrow, badminton set, football etc. You dont want them out on display all the time but if you're able to set a cupboard aside I'm sure families would appreciate it.

good luck