With cold, dark winter nights drawing in it’s not too surprising that around 5million people leave the UK for Christmas each year in search of sun, sea and sand. It’s not a bad idea, and some even chose to capitalise on this and rent their home over the festive season; we’ve all seen the film ‘the holiday’. If you’re thinking of jetting off and renting your home this winter, here are a few tips to keep your festive season jolly.
Check your contracts
Websites like Airbnb seem like an easy way to make money from your property, but check with your mortgage lender first, many won’t allow for your entire property to be rented out and you could find yourself breaching your contract. If you rent your home opposed to owning, you need to check with your landlord first.
Tax and Councils
Speak to your local council to see if you’re allowed to short term let, some require permission and you may be fined for renting without it. If you only rent out a room or floor of your home you may also be eligible for tax relief on the money that you make.
Prepare your home
Making sure your property is immaculate is a must, as is making sure your appliances are working! If you’re only renting out a part of your home, make sure it’s secure. When you’re listing your property make sure it’s described accurately and add good, clear photos to make your property as appealing as possible.
Get insurance
Your possessions are at risk when you let tenants into your home, so it’s always worth screening them properly. Airbnb requires ID checks and you have the choice to accept or reject a tenant based on the information provided. Airbnb also provides up to 1 million dollars’ worth of cover for loss or damage, so if Santa takes a tumble, you’re covered.
Price yourself competitively
Have a look at what other properties/rooms are being rented for and chose a price that you think is fair, a good rate will attract guests. It’s likely you’ll have to pay a fee for listing your property too so bare that in mind when deciding on a price.
If you need advice on any property related issue then contact Farleys’ property team on 0845 287 0939 Alternatively please complete an online enquiry form.
