Buy to let owners flock to holiday market

With 63 percent of Brits planning to shun hotels for a buy to let holiday home this year, new research by Holiday Cottages Group reveals it’s not bad weather and spending time in close proximity to the other half that gives people the holiday blues – it’s bad decor!

In the current economic climate, the demand for UK holiday homes to rent has soared – the company has seen a massive 30 percent increase in Easter bookings alone – making holiday letting a viable option.

In fact 55 percent of buy to let owners are planning to join the holiday lettings market to help boost their other property’s earning potential.

But in order to really maximise their income, top property and interiors expert, Melissa Porter, urges buy to let owners to really tune into what consumers are looking for in a holiday pad.

According to a survey over 1,000 holiday makers by the Holiday Cottages Group, 88 percent put a freshly decorated, modern interior top of their list of priorities, even above price (19 percent). Yet, after asking 1,300 owners of buy to let homes when they last decorated, a third haven’t given their properties a fresh lick of paint for five years, with a few Unhandy Andys not doing any DIY for over a decade.

When it comes to creating the perfect holiday pad, forget about a traditional country cottage with roses around the door, 63 per cent of Brits are dreaming of a cosy yet spacious home with classic, contemporary decor. And over half still like to be beside the seaside (54 percent).

And while owners think a beautiful garden and personal touches like pictures and flowers (27 percent) provide a warm welcome, today’s tech savvy holiday maker wants a house kitted out with the latest plasma telly, wifi and wii (11 percent).

Providing some DIY SOS, Holiday Cottages Group has teamed up Melissa Porter to create some simple top tips.

Melissa said: “This survey paints a really accurate picture of what holiday makers want from their getaway pad. There’s now a raft of stylish, yet low cost accommodation options for people to choose from so they are becoming more selective about where they stay.

And with a quarter classing tired, cluttered interiors as their top gripe, it is vital buy to let owners, in addition to those who are already holiday landlords, refresh their décor to increase their property’s rental yield.

“You don’t need to spend money on a complete makeover. Small, inexpensive touches like painting the walls in a classic, neutral colour or buying a new set of bedding in the latest trendy tones are sometimes all you need to instantly update your property.”

Simon Law, vice president of property at Holiday Cottages Group added: “It’s interesting that uncertainty over what people want from their holiday accommodation is a key factor stopping some buy to let owners letting out their property (8 percent).

“But with the increasing demand for self catering holidays in the UK this year, people need to make the most out of their second home to really unlock its earning potential.”