New to site with Sykes nearly giving it all up

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.
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charles cawley
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Joined: Tue Sep 21, 2010 1:53 pm
Location: Herefordshire, Shropshire, Borders

Post by charles cawley »

I agree, we usually do not use cppn but it is becoming more relevant in the minds of people making bookings. In the general run of things, the self-catering market does not think cppn but in terms of weekly rates, mid week and weekend breaks. We use a system on Excel to generate rates logically for any start and any finish day in a week but it uses the week rate as the reference point for all other rates. We then stick the info into the automated booking system.

The sleep 2 and 4s have been hit hard by people clubbing together to rent, for example, a sleep 10. In the process of working out how much people will save, cppn suddenly becomes relevant. In some cases, a single booking for a sleep 10 can mean 3 or more lost bookings for smaller cottages.

Meanwhile, many BnBs are seeing business taken away by self-catering again focusing minds on cppn. The way people are thinking before they book self catering is changing especially if they are changing self catering niche or moving from BnBs or, even, hotel accommodation.

As for tablets... I dare not tell you of what has happened on a bad day or two!
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kg1
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Post by kg1 »

When quoting I quite often break it down to the cpp per night.

I will spell out that £400.00 per week for 5 guests in the low season is the equivalent of £11.42 pp per night. I think it helps guests to see that actually they are getting a great deal, otherwise they just look at the weekly rate regardless of the no. of guests.
newtimber
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Post by newtimber »

charles cawley wrote: Taking a week's rent at, say £844. The cppn is £7.09! http://www.homeaway.co.uk/p1552272

This does not look right, in the normal run of business, it is the lowest c.p.p.n. I have seen.
Sykes have properties with a lower c.p.p.n.
Search on properties in England sleeping 10 and sort by price. I have one Browncliffe Farm (4 bed sleep 10) @£390 pw - c.p.p.n of £5.57 or if you want sleeps 10 with 5 bedrooms in North York Moors @£441 per week - £6.30 c.p.p.n
SandyBeaches
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Location: Norfolk Coast

Post by SandyBeaches »

Sorry I can't find your link on Sykes otherwise I would take a look, but £295 for a weekend for sleeps 18 is ridiculous. That's way lower than I charge for a sleeps 10. At that price it's certainly going to attract lots of hen and stag parties.

I would get Sykes to increase the prices, pointing out that you're not even covering your costs. Bigger houses attract more of a weekend crowd so that's really what you're aiming for on top of the Christmas/New Year and possibly peak summer weeks.

As I say I can't see the house but I would perhaps aim more for the luxury market and that way you can charge more. We're more expensive that all the other properties in our village but have tried to differentiate ourselves through having really nice (and in some case designer) furnishings. But you can do this on a budget too.

Professional photography is a must. I paid £50 - £75 to get each cottage done and it was sooo worth it.

I would say ditch Sykes and either look for a more local agent who will value your property and business, or look for an agent who specialises in larger properties. Or go it alone. Loads of us have done the same thing, and with the support of LMH it's possible to do.
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Nemo
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Location: Norfolk

Post by Nemo »

SandyBeaches wrote:Sorry I can't find your link on Sykes otherwise I would take a look,
Type Swallows Farm Yorkshire into Google and it's top result for me.
SandyBeaches
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Joined: Tue May 01, 2012 8:35 am
Location: Norfolk Coast

Post by SandyBeaches »

Ah interesting. When I searched for sleeps 18 on Sykes it didn't come up. Neither in Yorkshire or the whole of England. But I see it says sleeps 17 on the listing so that's probably why.

It looks an amazing house but - and please don't take this the wrong way - a little bare? ie you could really make something of those beautiful period fireplaces with a funky mirror over it. I got a beautiful gilt one off ebay, or even ikea have some great mirrors which are cheap plastic but actually look OK.

The house looks as if it has so much going for it, but I don't think that the listing with Sykes is doing you any favours.
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