Launching into the unknown and getting away with it

[charles cawley]

It is amazing how so many do well at holiday letting despite often being unaware of what they're getting themselves into.

It is is as complicated as it can be an adventure. We repeatedly find estate agents flummoxed, either unable or unwilling to cater for holiday let sales. It's the strange combination of business and residential sale that confuses them.

One of our recent articles about this tries to reveal a bit of what buying a holiday let is all about- it barely scratches the surface. We have found that most owners get genuine pleasure and satisfaction out of being hospitable... even if many never get a proper return on capital.

It is a civilized occupation.

http://www.holidayletsforsale.com/buyin ... r-cottage/

[Jenster]

You are so right Charles, I thought very little about what I was getting myself into and have very much realised how much there is to it as I have gone along. I have kind of learned on the job and am improving continuously. But I am enjoying and as you say getting immense satisfaction from my little venture.

[charles cawley]

It looks really lovely.

If you are going to buy, you can't do much better than buying a place in such a cracking location.

[PW in Polemi]

How true! We got into the holiday let business as an alternative to money in the bank (earning very little interest and what little was earned, was getting more and more taxed).

We've got to the point where our income is higher with holiday lets for 7 or so months of the year than if we had a permanent year-round tenant - probably due to the vagaries of the Cypriot property market which is over-stocked with properties of all descriptions for rent.

As you say, Charles, location is key. We knew that we needed to buy close to our home so we could service the let ourselves, and the property had to be of a "lock and leave" type over the winter - although we do check it out frequently during the winter months.

We didn't fully realise what we were getting into and it's been a very steep learning curve (helped massively by LMH) that has not topped out yet!

However, although it is hard work (you try doing a changeover in July or August temperatures of almost 40C!), it is extremely gratifying to know that we have helped our guests have a thoroughly relaxing and enjoyable holiday, very often much needed due to their busy, stressful lives.