New Member

[TGS]

Hello everybody.

So I'm new and very green. I found this forum yesterday and fell on it like a thirsty dog. Your posts have made me lol, reassured me and been very, very informative. So much so, I have now officially joined my first ever forum!

On Friday (blimey that was only yesterday lol) I had my offer accepted on a 7 apartment holiday let business on the seafront in Dorset. The owners are retiring after 25 years. Over the course of the last two weeks we have got to know each other and the relationship (it's like I've known them all my life - it's lovely) we have built means that I am welcome to go in and pick their brains as much as I want and shadow them closer to the time to understand the day to day operations.

I have 25,000 questions. But, right now I'm at the bank proposal stage, projections, finding a solicitor etc..

Brief synopsis of the business, 3 flats on long term holiday lets, other 4 fully booked July, August, September. Winter lets x 5. Not on trip advisor, not accredited, no advertising to speak of, website very basic, rental prices at least £150 under competition, no sofa beds, one flat has a dining room, whole place needs modernising but very workable at present. Very clean. Roof just been done, electrics done last year, boiler brill etc.. - obviously the surveys will show any unexpected surprises.

What do I want from you guys? Just to know over the course of the next few weeks, months, years - I can run ideas by you, ask questions and generally use and abuse you



Is this OK?

Also can anyone recommend a sensibly priced solicitor? We have had a couple of acquaintances mention people, but I'd rather know they were experienced in holiday lets. Limited liability company or sole trader?

Looking forward to being a member and still chuckling about the thread with the locked chest freezer and how to get mould out of grout (this one motivated me to tackle mine this morning).

Really looking forward to getting to know you all.

Crikey I'm excited!

[Casscat]

Hi TGS and welcome! Gosh you've gone in BIG for a first foray into the holiday rental market but you sound like you have bags of enthusiasm so I'm sure you'll make a success out of your venture. I can't help with a solicitor recommendation but feel certain someone will be along with a suggestion. I guess they could be anywhere, not necessarily Dorset, as so much is done electronically these days.

Looking forward to seeing more of you on the forum as your project gathers pace

[TGS]

Thanks Casscat.

Lol! I am very enthusiastic.

Don't worry though, underneath all of my childish excitement (I did a wiggly dance when they accepted.. in front of them.. shakes head slowly) there lies a very organised, eye for detail, 'show me the regulations' type of woman.

I hope...

[kevsboredagain]

Welcome to the forum. 7 aspartments as a starting project? That's what I would call jumping in at the deep end!

[French Cricket]

Hello TGS, and welcome from me too

I like your style - hope you stick around! Hope everything goes well for you, and feel free to ask away.

[Normandie]

What do I want from you guys? Just to know over the course of the next few weeks, months, years - I can run ideas by you, ask questions and generally use and abuse you



Is this OK?

Oh yes. We love a bit of general abuse. It's why we're in the hospitality business.

The only thing that we'd diffidently suggest (if I may speak on behalf of at least some of us) is that when we give you lots of opinions (masquerading as advice based on experience ) you take a mo - after it all gets decided - to come back and update us. It's not mandatory... but it's always nice to know what happened to the body in the freezer.

Good luck with your project and welcome to LMH.

[tavi]

Hi TG from the seafront in Algarve. (I love Dorset, too)

Ask anything, I always have and there's always someone about to help out.

[kg1]

Hi. Welcome. You are just down the coast from me!

[greenbarn]

Hello TGS
Reading your post it's immediately obvious that you're bonkers.

So that's a relief.

It'll help with running the business.
And understanding all the loony people on LMH.
Stick around.

[kg1]

Where in Dorset are you?

[PW in Polemi]

Morning TGS from a lovely sunny Cyprus.
You sound like you'll fit in well with the LMH crowd - we must all be a bit bonkers to be in this business
You have definitely dived straight into the deep end - but LMH will offer you a lifebelt or three.

There is so much advice on here, you could spend a year reading it all and amending your T&Cs to take account of the strange things guests do.

And as Normandie said, we like to hear to end of the story too - that "body in the freezer" one just ran and ran. Shame they took it away without opening it and letting us know what was really in there

[TGS]

Thanks everybody.

Kyreniagirl - do you mind if I keep quiet until signatures have been signed. I don't want to jinx it. I haven't even told my best friends!

So - did any of you buy your rentals as existing businesses?

Do you have any tales to tell?

[CarolineH]

Welcome TGS - I have 5 properties together on a site in Brittany and took it over after having spent 20 years in IT. I love it, it makes me proud, happy and I just love working to give people happy holidays. I am slightly mad, too(sometimes). It's lots of work and very rewarding - the more you put in, the more you get out.

Welcome to LMH - this will be your sanity!

[aasta]

Welcome and best of luck!!! LMHers are a wonderful bunch of helpful souls!!! .....now what did happen to that body in the freezer???