Rental property or holiday let

[Goodmum1234]

Hello, I wonder if any of you could please advise/ share your thoughts on the following.
I'm lucky enough to own a rental property with a mortgage (about 30% of the value). It is in a lovely area and should rent quite easily again, as tenants just left.
Would you either:
Rent it out long term or have it as a holiday let?
Which is more tax efficient?
Have any of you had experience of doing either?
Thank you for your help.

You may get more return on a holiday let but it is much more work. Are you nearby? Do you have time to do any of the work or would you need an agency (which would eat up much of your profit)

We had a similar dilemma with a property for various reasons. We decided on long term renting out rather than holiday lets. The rent is quite low but we get a regular income and very little hassle so I prefer that option. No bills or council tax and no cleaning costs. And still get income through all those winter months where people don't want to go on holiday.

Thank you both. It's next door. So council tax is still the same. I didn't realise. I thought you'd get relief on small business rates?

If holiday letting you would go onto business rates. For ease the simple thing to do is long term renting although depending on area holiday letting may give you more profit but can be a lot of work.

Thank you. I think I'll let it out long term again.