Fio2 again, with more Q's - does anyone run a holiday let?

[Fio2]

Sorry i keep asking so many questions. i am incredibly disillusioned atm. I am thginking of converting my basement into a holiday let. We are very close to the beach and tbh the house is so rambling the basement doesnt get much use. We are having major work done down there atm so cost is not a factor either. I have room for a door basement level at the front of the house. There is also a small 'lower' cortyard at the back. All the plumbing is down there and there is a toilet. It would just need a bit of re-shuffling and adding of a shower cubicle, which we have one spare (!!)

Was just wondering, do we need planning permission to do it?

Are there certain regulations you have to stick by?

I think i will have to run it as a business but do i just pay myself a set wage out of it, or am i entitled to whatever is left after tax?

sorry very confused!

does nobody know anything?

does it not sound like a good idea?

or am i bugging everyone

sorry paranoia

we don't exactly run a holiday let but look after one for a friend who lives abroad. can't help much with the tax etc but give me a shout if there are other things you'd like to chat about as it was me who set it all up originally.

I have a good idea of the letting agent i will use and how i am going to set the place out. I was just wondering whether their are certain requiremtns as such that we should include. I suspect there has to be certain fire regulations etc. But what else?

ours is tourist board inspected and they have a pretty comprehensive list of what you need for each grade.
you need a fire blanket in the kitchen, and metal waste paper bins for ech room, regardless of grade. you also need self-catering insurance , the one we ahve isn't at all expensive, could find out who that is thro'.

oh could you/ that would be lovely. i will get in touch with the tourist board as they are only round the corner. Never thought of that before, thanks

Sounds like a good plan, Fio. If the holiday let thing doesn't work you could always let it long term as a flat.

I'm no expert, but these things might help:

1. You'd be effectively turning the basement into a separate dwelling and you would need planning permission for that (I think). You might not need it if the guests will use the same front door as you or if there will not be a kitchen - you need to talk to an architect (which i presume you will need to do anyway? ) Not much help am I?

2. Yes, there are fire regs etc. and these would affect your house too (as the house would become multiple-occupancy). I don't know much about it, but I do know you need at least 2 doors between the kitchen and the bedrooms. I know this because we had to have a kitchen door fitted in our flat once. These regs don't apply for single-occupancy houses. Again, you need to talk to an architect

3. Business - if you set yourself up as self-employed, then yes you can help yourself. If you form a limited company, you need to take a set wage and/or take profits at the end of the year (and you'd be employing yourself so you'd have to pay full employee's and employer's NI)

I hope someone knows more than me!

it's a company called J.L.Morris and they're based in Dorset. we let thro' an agency and most properties are insured with them. shall i put the 'phone number here...hmmm, i'll CAT you with it

no that is realy helpful SP. There would be entrance and exit but i hadnt planned for 2 doors between kitchen and bedroom, although there would be actually, thinking about it.

i feel really excited about it now.

Trouble is my neighbour does not want this kind of thing going on. But next door to us is bedsits, next to that is our type house divided into 2 flats. Other side of her is three flats (part holiday let/part long term rental) and one house like ours with a similar basement let, and on the end is divided into 4 flats. Would they take any notice if she started playing her face? (so to speak )

ok AQ

the company i am thinking of is fairhaven

I take it i will have to get planning permission? where do i start?

try phoning the local council.

fio -i tried to CAt you the number but MN say you don't watn to be CATed. if you'd still like it could you CAT me.

re; planning. i think you would need it, and would probably need to start with your local council's planning department to fin out what they require.

if you have a mortgage on the property they too will need to know. they usually say fine but put your rate up by 0.5% or something, but if you don't ask they can make you stop letting or worse still call in your mortgage.
hth

sorry SP, i will contact you. I have never had problems with people contacting me before, i will have to check my member profile or whtever it is!

I meant anuntyquated