Bucket & spade buy-to-lets
If you’re a landlord still wincing at the introduction of the 3% second home stamp duty fee, a reduction in mortgage interest tax relief and the scrapping of the 10% wear and tear allowance, it may be time to pursue a new buy-to-let option.
Renting out a property as a holiday home gives you immunity against many of the punitive lettings reforms and it has added perks too. HMRC views holiday lets as a trade and not an investment, so mortgage interest costs remain deductible from any income. In addition and due to the high turnover of guests, there is a generous wear and tear allowance greater than anything that has ever gone before.
The perks even extend to when you sell the property - you can roll over any capital gains, buy another commercial property and only pay the gains when the second property has sold.
Like residential rentals though, holiday lets are about chasing the best yields and that may mean buying a property far away from where you live. In fact, research from insurance firm Schofields discovered that over 80% of holiday let owners are not local to their property, with 62% living over 150 miles away.
Distance should be no barrier though. Landlords moving into the holiday let sector are discovering an efficient, cost-saving support network that allows them to market direct to holidaymakers through websites such as Airbnb, Owners Direct and HomeAway.
And then there’s Viewber – an important cog in holiday lettings’ decentralized support service. We can provide local people on a UK-wide basis to conduct check ins and check outs, allowing landlords to live miles away from their holiday let and still look after guests. We can also cover maintenance visits for everything from a broken boiler to bed linen changes.
When you book a Viewber, you book someone who has been vetted by us and who lives within a few miles of your accommodation. They can offer your guests value-adding handy hints and tips – like where they can get a late-night pizza, who sells the best cream teas and how far it is to the most unspoilt beach.
Our Viewbers can also conduct property inspections with a full follow-up report. As a company, Viewber can also install key safes to make your holiday let simpler for guests.
If you’d like to know more about Viewber and how we help landlords successfully run their holiday lets, get in touch today.