How do you value a holiday let?

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Beachcondo
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Joined: Sun Jan 16, 2011 7:51 pm
Location: Anna Maria Island, Florida and Sweden
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Post by Beachcondo »

When we bought the next-door neighbour's place, it included some bookings. They deducted the value of the down payments from the amount that we were due to pay, and I collected the balances myself.

As the previous owner had a much lower price on his rentals (and much lower standard in the condo), it took us til next season until we got the income that we thought our, newly renovated, condo deserved.
In hindsight we should have denied to take the bookings, but I think it might have been harder negotiations then as the owner was fed up with the rental business and just wanted out without taking responsibility for his old renters.
Pessimists only get positive surprises.
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