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Short-Term Holiday Lets

Many people planning to buy a second or holiday home are interested in owning a property which will provide them with an income to cover the running costs and help meet the mortgage payments. Note, however, that with short-term letting you’re highly unlikely to meet your mortgage payments and running costs from rental income – you will also have to put up with much more hassle than with long-term letting.

Buyers who over stretch their financial resources often find themselves on the rental treadmill, constantly struggling to earn sufficient income to cover their running costs and mortgage payments.

Most experts recommend that you don’t purchase a holiday home if you need to rely heavily on rental income to pay the mortgage.

Burglars target second homes – the risk of burglary is three times greater in rural areas – and if you own a property that’s empty for long periods you will pay much higher contents insurance. Make sure that you have adequate security and that you remove or secure all valuables when a property is unoccupied.

© Survival Books Limited 2005

“Buying, Selling & Letting Property” 2nd Edition, David Hampshire.
Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying, Selling & Letting Property” 2nd edition, by David Hampshire.

For extensive, annually updated information about buying, selling and letting property, you can purchase this book at www.survivalbooks.net


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