When to start trading?

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.
buxtonhouse
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Joined: Fri Mar 09, 2007 8:55 am

When to start trading?

Post by buxtonhouse »

Now that we've solved our planning issue, we've got to decide when to start trading.
Our tenant, who's going to live in the house in order for it to become a 'let', works in retail so doesn't want to move out any time around Christmas. She could either take a six month lease, leaving on the 1st November, or a longer one, leaving on the 1st March. Is the winter trade in the UK sufficient for us to risk starting in November? Does anyone go away then or in January? Obviously, if we did this we could advertise Christmas and New Year (with our website going live months before the flat) but, if we don't fill it for the winter, we risk enormous voids. Anyone any experience in such things? Or general advice? I'd be very grateful for any suggestions!
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Ju
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Post by Ju »

I would keep the tenant until 1st March, leave a couple of week clear in the calender, and start the rentals at Easter next year.

Whilst I think you could get the odd weekend let over winter I doubt it would make up for 4 months of rent.

Ju
buxtonhouse
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Joined: Fri Mar 09, 2007 8:55 am

Post by buxtonhouse »

Thanks Ju, that was, pretty much, what we were thinking. We will make a slight loss on the tenancy (worth it in the long run) but the tenant will be apying her own utilities, Council tax etc so protects us from possible bills on top of voids in the winter.
Thanks for the advice.
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Big Sis..
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Post by Big Sis.. »

Hi Buxton :wink: ...

I agree with Ju....easter onwards sounds ideal....
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