Letting a caravan

Kit1

Hi

We bought a caravan last year with some friends as a cheap way to have holidays and weekends away at the cost as we planned to share the cost of everything. Anyway today our friends told us that they want to sell their share of the caravan as they just can't afford it anymore and don't want to be tied to holidaying at the same place every year.

We now have to decide if we sell the caravan or buy their share. If we buy their share we were wondering if we could rent it out to help with the cost of the ground rent and perhaps make a little money towards the upkeep etc but have no idea where to start.

The caravan is on a very nice park close to the beach which is nice and clean and great for families. It is just a 5 min drive from the main resort but has shops. pubs and a bakery within a short walk. So I think we could rent it out for holidays (if we knew how to go about it).

Any help would be great.

soolin

If it is on a permanent site then the owners of the site may well run a rental service (for a fee) - it is worth giving them a call.

lincroft1710

Kit1 wrote: »

Anyway today our friends told us that they want to sell their share of the caravan as they just can't afford it anymore and don't want to be tied to holidaying at the same place every year.

We now have to decide if we sell the caravan or buy their share.

Do your friends realise how much money they'll lose after just one year. A half share in a 1 year old caravan is worth less than 50% of its market value. If you sell it on site the owner will want a percentage of the profits.

citykid5

You really need to check with the site owners to check if you can sub let the van. And as lincroft has said the van has seriously devalued please take this into account when coming to a arrangement with your friends and make sure you can afford to take on the responsibility of the future running costs. Good luck getting things sorted

spacey2012

i would make sure they take the lions share of depreciation.
It needs valuing at todays rates plus selling costs.

Also factor they are not an easy item to sell this time of year .
I can see static parks going to the wall this year, as it bites, things like luxury holiday homes will be the first to go.
Many were owned by people on disability benefits and that goose has been cooked now.

BlueCow1975

Is it a static or touring caravan? Am assuming its a static but thought I would check as you can have touring caravans on perminent pitches.