Why now is the time to consider holiday letting - and how to maximise your returns
If you're looking for a reliable, long-term source of additional income, you should consider letting out your second home as a holiday property
In recent years, the market for holidays in the UK has seen a lot of growth, as more and more Brits opt for 'staycations'. It's a development that means there's rarely been a better time to invest in a holiday letting.
Choosing a holiday let rather than a long-term rental means you'll own a property that doesn't just pay for itself - it also generates a profitable year-round income and allows total, reactive flexibility to alter pricing according to market demand.
Sykes specialises in helping owners realise the value of their property. Many of its owners bring in over £40,000 worth of bookings per year. With the money in the bank, you're free to use the additional revenue to reinvest in your let and to further increase bookings.
There are plenty of small changes you can make to your property that have a big impact on income potential. Features such as wood burners and open fireplaces prove an inviting draw for prospective guests all year round, while something as simple as free WiFi can result in a noticeable growth in bookings.
Perhaps unsurprisingly, hot tubs are one of the most sought-after property features, since they provide a relaxing and intimate space for friends and families to come together and unwind after a day of holiday adventures. This instantaneous desirability is reflected in the statistics, with Sykes' research showing that having a hot tub in your holiday let can lead to anywhere between four and eight times more bookings being made annually.
In fact, over the course of 2016, Sykes' properties with a hot tub in England, Scotland and Wales earned on average over £8,000 more gross income than those without. As demand for properties with hot tubs surges, this figure is only expected to increase.
THERE TO HELP
Whether you're thinking of buying a property, converting outbuildings, or even building from scratch, Sykes' have over 25 years' experience in successfully letting holiday cottages and have supported thousands of owners through the process of securing a second home for let.
Its team of dedicated property specialists is on hand to provide you with no-obligation advice at all times. They'll run through all the details and give you insights into the level of bookings you can expect, as well as giving you clear suggestions on how best to maximise the appeal of your let.
Sykes will pair you with a Property Consultant in your area whose local expertise will guide you through your letting journey and help you make the most of your property's potential