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To ask about your holiday let

(4 Posts)
Ilovechocolatetoomuch Sat 04-Nov-17 08:29:22

We are in the early stages of thinking about buying a holiday let in the UK.
I was wondering exactly how much work is involved and what sort of profit you turnover? Is it worth it, or is it a lot of stress for not much reward?
Thank you in advance for any replies.

MissBeehiving Sat 04-Nov-17 08:44:15

We have 3 at the moment and our net profit after expenses and tax is £70k.

We have high levels of occupancy to produce that though.

We pay for the cleaning from a company and the laundry is taken away but we supervise on changeover day and do the welcome packs, cut the grass, change the hot tub water and deal with any minor repairs etc.

We also get called out during the week to deal with any problems.

Then there’s the admin involved in running 3 additional homes.

It’s worth it for us - can’t wait until we stop FT work and do this instead!

Ilovechocolatetoomuch Sat 04-Nov-17 08:59:43

Thank you MissB. I only earn 13K a year so not impossible to achieve that figure?
We are expecting our second DC and after child care it isn't worth me returning to work.
We're about to get some inheritance. We thought it might be a good way of investing it and me being able to manage the let round the DC, one of which will be at school.
Did you make a profit at first or was it a few years before you started to see the benefits?

Ilovechocolatetoomuch Sat 04-Nov-17 09:01:48

I wouldn't be able to supervise every change over but could prob get down there once a week to do a bit of ground maintenance.
We don't plan on using it much for ourselves although the odd weekend would be nice.

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