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.
- 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
- 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.