Setting up a B&B

[ghengis]

In our attempt to escape the ratrace we are considering setting up a B&B. Has anyone else any experience of this?

All advice gratefullt received!

Anybody? We have found the right house in the right location and just need a bit of advice now.

Sobernow,

Does your friend make a decent living? My dh has some clients who run B&Bs and he says that they aren't making a great profit......

My dh and I are also considering this. How many bedrooms will you have to let Ghengis?

Hi Ghengis.

I used to run a few backpackers' houses in London up till about 4 years ago. Classifying them as B&Bs made it possible to get around the problem of having tenants' agreements.

Here are some pitfalls you might want to check:

contact the council local to the house you have in mind. Ask them to send you information about their council business rate charges. You will, I'm afraid, have to pay enormous sums for this.

Also you need to find out about health and safety regulations, fire regulations etc. You will need a fire alarm system and fire doors, fire-protected staircases and safe furniture. Make sure your windows are openable so that people can escape through them if there is a fire.

You might need planning permission for the use of the building.

You need to ensure there is adequate parking.

Don't get the place if it is not easy to reach by public transport. The nearer a station the better.

You will need to use a laundry service or equip your house with a big laundry room with at least two washing machines and tumble driers. (Obviously depending on the number of rooms).

Be prepared to have inconsiderate guests sneaking in unpaid-for friends, playing loud music and TVs late at night, knocking on your door at all hours to borrow every little thing, etc etc. You will have to go out if you want some peace.

IME the higher the standard of decor and service you can offer, the more you can charge - and crucially, the more considerate type of guest you attract.

Charge a deposit to stop people doing a runner on you.

You will have to get a special buildings and contents insurance package.

Be prepared for anything - in 10 years in the business I have dealt with plagues of vermin, thieves, immigration police raids, guests being arrested, guests reporting me to the authorities, being taken to court by the council over their mistake, guests growing cannabis in the garden, guests using drugs openly in the house, guests damaging things etc.

The good thing is I did make a lot of money out of it and still have friends all over the world with whom I exchange emails all the time.

Email me or post again if I can help with any other concerns you have.

Janstar and Sobernow you are wonderful!

The house we are hoping to buy is an existing, succesful B&B in the west of Ireland. It is used by walking groups and those interested in the local flora as well as holidaymakers. It has 6 guest rooms, all en suite and a separate 4-bed private residence. It is on 2 acres of land and beautiful! I can smell the fresh air already!

Others have warned me to be ready for anything - used condoms in the sheets, blood on the mattress, etc! Yeuch!

Does anybody know if the previous annual income can be used to raise a mortgage? We have 40% to put down but would need to borrow the rest.

Could you ask to see the books of the present owners so that you can verify that it is viable?

The position sounds idyllic and the potential clientele sound as good as you could get. The detached residence means you can shut the door and say 'time out'. Perfect.

I don't know the answer to your question about raising a mortgage. I got my mortgage by stumping up a big deposit. If you can raise 30% of the value of the house you should be able to get a mortgage for the rest without having to show evidence of earnings.

However, it sounds likely to me that showing the previous owner's books to a mortgage company might be a good way of convincing them that you will earn the necessary money to pay the repayments.

Can I come and stay with you?

We have asked for a guide to last year's earnings (post 9/11 things dropped) so that should give us a guide. Janstar, you are welcome - if and when it happens I'll post on here! Just need to sell up in Devon now. God, I hate moving house!

Good luck ghengis! I know a couple who escaped London to run a B&B in Cornwall. They have never looked back.

Ghengisstay in touchI want to come and visit your B&B--maybe we can be some of your first customers!

Sun/snowchowder, you can 'atch the sun go down on Galway bay' from the house (apparently)! Oh and they hold an 'intellectual' summer school nearby too. You could come and sell your craft there.

I hope it all works out. It feels so right, sort of fated. Strangely enough my GP told me the right thing would come up for me and I feel like it has. Thanks all

So excited for you Ghengis!! I would love to come and sell my crafts. We have a wedding to go to now in April, so I am starting to bug my Andy about coming over then...would ove to visit your B&B and stay tooo!l