Our offer has been accepted

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.
Val
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Our offer has been accepted

Post by Val »

:D we've had an offer accepted yesterday on a barn conversion. :shock: Now the fun starts!
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Big Sis..
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Post by Big Sis.. »

Ow Many Congrats Val, keep us posted on your progress :D

Take Care, Rosx
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Giddy Goat
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Post by Giddy Goat »

Love barn conversions and so do holidaymakers! Yes, keep us posted Val, congrats and good luck!
Nostalgia isn't what it used to be
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Jimbo
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Post by Jimbo »

One of our gites is a conversion of a traditional tobacco drying barn. It has made a very popular 4-bed rental property and breathed new life into a redundant building. Good luck!

Jim
Nuthatch
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Post by Nuthatch »

Hi

We have a barn conversion in Yorkshire, so just down the M62 from you. We started out from scratch in May last year and, with a few hiccups, it's been pretty good so far. If you fancy a trip down the motorway to come and see us I'll happily show you around. Good luck!
Val
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Post by Val »

Thanks for all these messages of goodwill. We're a little bit scared, but excited.
The barn won't be finished till late Dec/early january. The structure is all done but our one is still a shell. the developer said that now that it's sold, they'll switch from working on the one they were working on, which is not yet sold, to concentrate on getting ours done.
We thought it looked like an ideal spot, hope all those holiday makers out there agree!
In any event, we'd be happy to live there ourselves, eventually.

I'll keep you posted and am sure to be picking all your brains in months to come!
lorca
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Re: Our offer has been accepted

Post by lorca »

Val wrote:: Now the fun starts!
Absolutely! The more you enjoy it, the more your guests will like it.
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charles cawley
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Post by charles cawley »

We often refer people to LMH, it's really useful. Some extra information can also be found here:

http://www.countryholidaylets.co.uk/lan ... o-pack.htm

As you are not based in our area, we feel it okay to leave this link. You may know most of it, but there might be a thing or two useful in there.

We picked up a really useful tip from one of LMH newsletters:

If you have a woodburner and want to take a photo when it's not running, a bit of newspaper and a match does the job just fine.

Good luck with the new project. It takes courage to invest in these times, but well managed lets are in a good market.
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Advice about holiday letting
Val
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Post by Val »

Thanks, I've clicked on your link and read it all through . There's so much there that rings true with us. We're really excited about providing a top quality experience to our guests. We're comparing it with the experiences , both excellent and appalling , we've had as holiday cottage , bed and breakfast, and hotel guests.
We're going to draw on that to give our guests what we'd want if we were staying at our cottage.
I just can't wait to get started. May be meeting up with Sykes Cottages soon; feel unsure about going it alone initially as this is a new venture.
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charles cawley
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Post by charles cawley »

Sykes is preferable to the behemoth which is expensive, and restrictive.

Negotiate to avoid exclusivity and for a reasonable commission rate. This can often be done. You can then have some early cashflow as your business develops. Before signing check the break clauses and reduce the time required by as much as you can. Some large agencies expect many months break notice and often the opportunity to do this comes only once a year... if you are not careful you can be locked in for well over 12 months with certain agencies. This sort of practice often makes home owners quite angry especially if they are locked into exclusive deals and bookings are poor.

Some agencies have the cheek to expect commission on private rentals... this sort of thing is close to offensive.

Advertising is a cost you will have to accept for your own bookings, the agent's fee is a form of advertising cost also. (cost of sale). Do not get to hung up on organic search results and SEO.... the sandbox tends to last for six to nine months so the choice and use of internet advertising is important.

Good luck
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Austria
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Post by Austria »

Very good luck with your venture. With a lot a work i feel sure you will do well.

ASAP i would suggest you get your website off the ground. Google takes time to find you and the sooner you start the better.

A blog on the area, perhaps including the story of the build linking back to your website will help with your google rankings.

When building / fitting out, think renter / business, rather than your own home i.e. a dark carpet will be much better than a white one.

Bsest wishes

Derek
Val
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Post by Val »

Many thanks for these messages of support and encouragement :)
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enid
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Post by enid »

How exciting - good luck and happy holiday home renting.
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greenbarn
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Post by greenbarn »

Good luck with it all Val!

You might do well to have a look at the latest postings on this thread in case it affects the timescale in which you choose to do things.
Val
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Post by Val »

Yes , I've been reading the Directgov site on and off for a while now, boy oh boy, what a cure for insomnia, it would put Kalms out of business :D
I'm thinking it won't affect us too much, in terms of the days available , well it's available 365 days and if we can't exceed the minimum days rented , there's no hope really.
Basically we have nothing to compare it too as we haven't got off the ground yet ( have been told the completion date at at last -will be mid Jan now)- so we'll adjust to meet the rules as they are.
I've been reading the threads on scam emails which are quite depressing. :(
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