buying a holiday chalet to let

[PaulSB]

Most definitely this ^^^.

We always look for good value and we have been plotting a Tour of the Lakes for Spring next year (despite living here it seems like a fun idea).

And some of the prices for accommodation and food are simply crazy in some establishments. It's not that we can't afford it we simply resent being ripped off.

Many of our friends are not remotely short of money and apply the same type of judgement call.

As it happens I'm looking in the Lakes as well. Prices are absolutely crazy. We will probably end up staying at home and then everyone - accommodation provider, local pubs, shops and Mr and Mrs P - lose out.

The approach some businesses take is quite beyond me.

 

[vickster]

Supply and demand unfortunately

 

[SpokeyDokey]

As it happens I'm looking in the Lakes as well. Prices are absolutely crazy. We will probably end up staying at home and then everyone - accommodation provider, local pubs, shops and Mr and Mrs P - lose out.

The approach some businesses take is quite beyond me.

One Inn in the Ravenglass area want £130 per night in an admittedly very nice room with breakfasts as an added extra!

 

[Brains]

As a landlord I can tell you there is a raft of regs you have to meet, safety standards for gas, electric, fire etc. Unless you live near you’ll need somebody to manage it for you and someone to clean. An odd job man to cope with any maintenance issues.
If you think you can cope with all that go ahead but don’t undertake it lightly.

I'm a landlord as well:
Go into this with eyes wide open.
We have tenanted properties (BTL's) in London and holiday lets (FHL's) in Kent
All are (freehold) houses or shared Leasehold Flats where we help run the building

You don't need to set up a company, but you must keep proper records of every penny collected and spent.
I used to have a policy of never running a property I could not cycle to, over the years I've extended it to not having a property I can't drive to in an hour or so.
I have a lot of family and connections in Cornwall, but I'd not run a property there for the simple reason I can't drive there is less than 5 hours.
You WILL get the Friday night 8pm call to fix the plumbing or electrics, so you need a solution (and the ability!)

I think initially if you want a holiday lodge for yourselves go ahead, and if you can cover some of the costs renting it out then dip your toe into the market, but I think the idea of running a lodge on a park as a profitable business is not realistic.

Static and Lodge parks have too many rules about maintenance, renewals, leases and usage to be even worth considering except as an occasional pin money option.

However a two up/two down in the nearest seaside resort to your home may be worth looking at

 

[Darius_Jedburgh]

One Inn in the Ravenglass area want £130 per night in an admittedly very nice room with breakfasts as an added extra!

Yes it's a rip off. Profiteering.
But....the likelihood is that the hotel will not be allowed to be fully open. The hotel has had no income for a considerable time, but still has substantial overheads. The great British public desperately want to get away. Anywhere will do but as foreign holidays are going to be all but banned there will be a lot of demand which pushes up prices. Holidays in UK will cost a lot less than going abroad, and we have the money because we haven't been spending it on anything else.

We went to a hotel in Ravenglass a couple of years ago. £220 for 2 nights for 2 people in their best room. Just had a look. Same room, 2 nights in August £265 and breakfast is £12.50 per person per day extra. Ravenglass is hardly the Riviera!!!

 

[srw]

One Inn in the Ravenglass area want £130 per night in an admittedly very nice room with breakfasts as an added extra!

Considering I can (and do*) pay that at busy times for a bog-standard room in a boring box chain hotel in Croydon for work, that's not surprising. It's pure supply and demand pushing up prices. They're not building nice old inns in pretty parts of the Lake District any more, so supply is limited while demand is rising.

*did. And might one day again. Obvs.

 

[SpokeyDokey]

Considering I can (and do*) pay that at busy times for a bog-standard room in a boring box chain hotel in Croydon for work, that's not surprising. It's pure supply and demand pushing up prices. They're not building nice old inns in pretty parts of the Lake District any more, so supply is limited while demand is rising.

*did. And might one day again. Obvs.

I understand the S&D side of things and the price of accommodation in London having lived and worked there for many years but it's all relative.

£130 is a lot for B&no-B up here. Time you have had an evening meal and a few drinks at £75 and two breakfasts at £25 that's £225 per day which is just not worth it to us.

Probably sounds like being tight but it's all about perceived vfm.

On the other hand a couple of nights here and evening meals/drinks was around £1k and was worth every penny:

https://www.thewitchery.com/

 

[tony111]

I can only comment as a renter of holiday caravans over the last 4 years. We go to Thornwick Bay in N. Yorkshire which is run by Haven. Have used Haven once, then private renters after that. All booked via the Internet and lucky to get availability. We have never stayed in one that looks like it has had any damage to it and I know of one guy who owns 6 and makes a full time living from it ( in a pre covid world).

 

[Dayvo]

Freudian slip perhaps?

A big slip. A lot of force would be needed to slip up there.
🙂

 

[Dave7]

Yes it's a rip off. Profiteering.
But....the likelihood is that the hotel will not be allowed to be fully open. The hotel has had no income for a considerable time, but still has substantial overheads. The great British public desperately want to get away. Anywhere will do but as foreign holidays are going to be all but banned there will be a lot of demand which pushes up prices. Holidays in UK will cost a lot less than going abroad, and we have the money because we haven't been spending it on anything else.

We went to a hotel in Ravenglass a couple of years ago. £220 for 2 nights for 2 people in their best room. Just had a look. Same room, 2 nights in August £265 and breakfast is £12.50 per person per day extra. Ravenglass is hardly the Riviera!!!

I googled a hotel in Cornwall that I fancied. Was gob smacked at the price.....in June.
Bed only £225.00
Breakfast £25.00 pp
AND....staggering.....£x for bed sheets**
**no explanation given for that.

 

[Brains]

Yes it's a rip off. Profiteering.
But....the likelihood is that the hotel will not be allowed to be fully open. The hotel has had no income for a considerable time, but still has substantial overheads. The great British public desperately want to get away. Anywhere will do but as foreign holidays are going to be all but banned there will be a lot of demand which pushes up prices. Holidays in UK will cost a lot less than going abroad, and we have the money because we haven't been spending it on anything else.

We went to a hotel in Ravenglass a couple of years ago. £220 for 2 nights for 2 people in their best room. Just had a look. Same room, 2 nights in August £265 and breakfast is £12.50 per person per day extra. Ravenglass is hardly the Riviera!!!

It's not profiteering, it's supply and demand, exactly the same as your local pub or bakery.

If you want to rent my seaside house right now, end January, bottom of the season, then the cost will be £200 per week.
To rent the same property end July, top of the season, then the cost will be £200 per night.

How much do you think it should cost to borrow an asset worth upwards of half a million quid with a running cost over £1,000 per month?
(For your calculations typical occupancy is around 150 nights a year, more of which are in the summer, less in the winter)
A hotel or B&B has far greater costs, but same rules apply,

 

[Beebo]

We’ve just booked a week in August in a Cornwall cottage right on the beach. It works out at £175 a night for a family of 4 in the middle of the school holidays which is a good price in my opinion. We much prefer the casual nature of self catering rather than the fuss of a hotel.

 

[Flick of the Elbow]

We’ve just booked a week in August in a Cornwall cottage right on the beach. It works out at £175 a night for a family of 4 in the middle of the school holidays which is a good price in my opinion. We much prefer the casual nature of self catering rather than the fuss of a hotel.

 

[fossyant]

Assuming we can mix at some point this year, there is a free weekend in North Wales going, with like minded cyclists. Only caveat, you need to bring a mountain bike, and beer money !

 

[MontyVeda]

£175 / 4 = around £44 per person... even by my stingy standards, that's OK.