Should I let my property for holidays or long-term lets?

Fisher Management director Ross Fisher has over thirty years experience of the letting market in Cornwall, and is also a committee member of the South East Cornwall Tourism Association.  Here he lays out the pros and cons of letting to long-term tenants versus holiday letting in this lovely part of the world.

Permanent Lets

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  • As long as a property is presented in good order it will let easily and quickly
  • There is a continuous demand in Cornwall and Plymouth for permanently rented accommodation
  • Gives a regular steady income throughout the year, without the responsibility of paying for utilities and council tax, both which will roll over even if property is left empty.
  • It is preferable to let the property unfurnished, this saves cost of buying items in the first place as well as having to replace furniture in the future.
  • The basic requirements of TV, furniture, cups, plates and knives and forks are not needed.
  • The tenant becomes responsible for internal decoration once they have moved in
  • Insurance cost is less on a long let than a holiday let
  • Tenants are responsible for the upkeep of the garden

Holiday Lettings

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  • The income can be erratic and may have to wait until the peak season arrives for money, but the rent is a lot higher for the time in occupation.
  • Bookings can be effected by weather and the economic situation of both in this country and worldwide.  A few weeks rain or a damaged railway line can make a big difference to bookings in Cornwall: are you ready?
  • Commission are higher, changeover costs have to be considered
  • Gardens have to be well looked after
  • The owner is responsible for all utilities  all the year round which include electricity, gas or oil, water and Council Tax
  • The property will need to be fully furnished with all modern conveniences including wide screen TV, dishwashers and Wi-Fi
  • Holiday makers visiting the Looe, Polperro and South East Cornwall areas increasingly want value for money and sometimes the properties take a pounding

Many other top tips and advice based on thirty years experience of the Cornwall letting market are available in the exclusive Fisher Management  Essential Guide to Letting Residential Property – available to all Fisher Management landlords free of charge.