Selling my let and advertising ??

If you're buying or selling, tell others about it here. Or ask other owners for advice.
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John
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Post by John »

We are also going to be putting our group accommodation let on the market this Spring and are also trying to make the same decision. So I'm interested to know what decision you made. We have thought of the 3 month rolling availability option, bookings would be reduced but would still give us an income, so if the house took a considerable time to sell we would not be put under pressure. Then we could hold open days for potential buyers (seems to be the way a lot of Estate Agents do it anyway) on weekends the house wasn't booked. Buyers would be told that completion would take 3 months so that all bookings could be honoured. Any opinions gratefully received!
John

Group self catering accommodation in a 17th century thatched farmhouse.
http://www.crosstreehouse.com
Nightowl
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Post by Nightowl »

The owner should obviously refund the cost of the booking if the owner cancels but why would an owner be liable to make up any additional losses to the guest? Surely that's what travel insurance is for?
Nightowl
Forever going one step forwards and two
backwards......
newtimber
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Post by newtimber »

If the business is being sold as a going concern, then the new owners will want (and expect) forward bookings provided they have not been sold too cheaply.
If the property is going to be a residential property, then they won't. So it depends on whether there are any restrictions as to what the property can used for.
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Jimbo
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Re: Selling my let and advertising ??

Post by Jimbo »

Pringles2014 wrote: Its possible that the new owners wont run it as a holiday let.
We sold our 3-gite complex, plus owner's house, in the Dordogne last year, after ten years of renting the property.

It's entirely possible that such a property won't sell as quickly as you'd hope (ours didn't). It's also possible that your rental income is an important souce of revenue to you (ours was). It's likely, too, that potental buyers may have a range of options for your property that don't include honouring your committments to booked guests (ours did).

We believed that, no matter how anxious we were to sell, honouring our committments to booked guests was paramount. If somebody has put their trust in you, you should (IM0) return that trust in full. We booked the entire season as usual on the understanding that a buyer would either continue with the gite rentals or wait until season's end before completing the purchase. The alternative, of course, is only to book a short way ahead.

In the end, we were fortunate to find buyers who wished to continue with the rentals and we sold mid-season, leaving them to pick up the reins. But several keen viewers had residental projects in mind - one wanted to turn the property into a religious retreat.
Jim
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