5 reasons why a long term let may be a better solution than holiday rental
Switching your holiday rental property to a long term residential could be the better option and here is why...
As the world emerged from the pandemic, domestic tourism in England increased massively, many people opted to holiday within their own country and this led to a surge in domestic tourism in England. There was a shift towards rural and coastal destinations such as Norfolk: Many people chose to avoid crowded cities and opted for rural and coastal destinations where they could enjoy outdoor activities and maintain social distancing. This led to an Increased demand for self-catering accommodation in Norfolk and property sales boomed!
As the world returns to ‘normal’ and people are shifting back to life in the office rather than at home, Europe is open again and some choose to holiday abroad, we have recently seen an increase in clients contacting us due to their holiday bookings being significantly less than the past few years, and they are considering their options whether to switch their property to a residential let.
Switching your holiday rental property to a long term residential let can have several advantages such as:
1. Steady rental income: With long-term tenants, you can enjoy a steady rental income without the fluctuations that come with holiday rentals.
2. Lower maintenance costs: Long-term tenants typically cause less wear and tear on the property than short-term holiday guests, which can result in lower maintenance costs.
3. Less time and effort required: Managing a long-term rental property requires less time and effort than managing a holiday rental property, which can be more demanding due to frequent guest turnover.
4. Reduced risk of damage or theft: Long-term tenants are less likely to cause damage or steal from the property than short-term holiday guests.
5. The tenants pay the utility bills such as council tax, water, electricity and heating costs.
If you would like to find out more about what is involved and how The Norfolk Agents can help in this process, please contact us today for your free, no obligation appraisal.