Buying a lodge in the Lake District

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.
Saralou
Posts: 1
Joined: Thu Sep 26, 2019 4:21 pm
Location: Lake District

Buying a lodge in the Lake District

Post by Saralou »

Hi everyone,
I'm hoping I can get a bit of useful advice. We are looking to buy a FHL in the Lakes and have put down a small deposit on a 2 bed lodge on White Cross Bay holiday park. Its only a basic lodge, 1 bathroom, no hot tub etc and used. It is being refurbished but is quite traditional. We are doing this mainly to rent out to help pay some of our daughter's costs through uni so not primarily for us. We have a limited budget and can't afford to get this wrong. Chose the Lakes as a year round destination. But looking around it seems as if there are so many lodges in this area and I'm wondering whether anyone can give me their experiences, positive and negative on rental returns. Have seen some figures, allegedly for this lodge but would welcome comments on whether this is a good move or plain daft! Thanks in advance.
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Mouse
Posts: 7277
Joined: Tue Jun 20, 2006 6:47 pm
Location: Balearics
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Post by Mouse »

Hi saralou, we used to have a member who had lodges in the lakes. If you search you may find various posts.
I recall he was quite successful but then problems occurred with the site owners and competition increased. I remember it being very stressful for him. He eventually sold and got out.

Did you do any research before you bought? Hopefully you did and know where to pitch your prices and what the likely rental income across the seasons should be. If not then that's your start point.
Are there any similar lodges rented out that you can see online what their bookings are like? Could you furnish in a way that makes yours a different offering?

I wish you the best of luck.

Mousie
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Nemo
Posts: 7062
Joined: Thu Aug 14, 2008 10:15 am
Location: Norfolk

Post by Nemo »

As Mousie says, his forum name was Windy and what he didn't know about owning lodges on a park wasn't worth knowing! I stayed in one of his lodges too. Search his name and you'll find all his past posts. He wrote a really good article about buying a lodge too although sadly that's now not on the link I found.

Please do masses of research, make sure you know the full costs upfront, what they might increase by year on year as you may find it's not as profitable as you hope. Competition has enormously increased across the country with more holiday lets since landlords have gone over from AST to holiday lets and lots of people have put their properties/rooms on Airbnb.

I have two leasehold chalets and it's very hard work, particularly if you don't have a premium location on a park. I would never choose to buy a leasehold property again if I had any choice in the matter. Park owners ie your landlords can be the biggest sources of stress you ever come across!
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