Setting up a holiday rental Advise please

mils

Hi we have a property on our land that we are looking into renting out as a holiday let. I Was looking for some advise.
Does anyone use any specific type of rental software to manage there property ? Im not great on excel but can do the basics. or does anyone know where I can access such information that would help me set up a running cost sheet.
Are there any stories or advise that anyone can offer they we may encounter that I wouldn't think of. The property itself is on the same land as our own home.
Paul

saving-mad

Paul I have sent you a pm

Itismehonest

If you have a residential mortgage the first step is to check with your lender if it will be OK. Lenders aren't currently keen on anyone but the family of the person named on the mortgage staying anywhere on the property. Then you'll need specific Holiday Cottage insurance which includes Public Liability.

Once that's been cleared some of us here may be able to help you more.
I ran holiday cottages on my property for almost 20 years. To do it well is time-consuming & quite costly. With just the one cottage you probably won't be making much, if any, profit unless you are in an area where there's a long season for the type of person you'd be aiming for.

mils

ITISMEHONEST - well the talked about opportunity we have is a cottage on our site. Which currently is not lived in and have no plans for anyone to. So thought about the idea of Holiday let to help cover bills of the main house really. Not in it with the idea to make lots but whilst its there empty seems crazy not to give it a try

greenface

Whats the condition of it as it stands ?