The sun glitters over the sea, the music plays and we enter the fray once again. Victorious festival brings a buoyant conclusion to the Summer season in Portsmouth this year.
After 6 years of throwing myself wholeheartedly into my business, I am now ready to step away and see if it has legs of its own. The things that I own have ended up owning me and I am just a little worn out. My son has also left home so freedom beckons.
Life is a leasehold and far too much of '22 was spent in a legal knot with a business partnership that was no longer desirable. As I end '22 with it finally over, and with myself in recovery from a very challenging experience, the New Year brings a different sort of goal.
Remember the good old days, when you went to a holiday cottage armed with your own linen and a bag of £1 coins for the meter? Are we returning to these times?
You can loan out a room, camper van, driveway and household equipment, even the family dog. What are the most practical and realistic ways to benefit from this way of operating?
Enthusiasm for the sharing economy seems like a distant memory…before Covid, many of us were busy mucking in and sharing/renting our homes, vehicles and household equipment. Some of us started using Airbnb professionally, where is it going next?
October is tax time around here. I seem to have acquired several small Ltd Companies, part of an LLP as well as self employed, payroll, pensions and land & property pages, as well as the FHL (furnished holiday let) parts of my own tax return. Can you beat my record number of tax pages?
Sweeping the pavement outside my short lets in Orchard Rd, I wondered how this old-fashioned habit had died. (Editor note: This is NOT a picture of Charlotte cleaning her door step!)
Cleaning the front step used to be a matter of pride for many households. This small threshold literally welcomed people to your home and displayed to the street that you were a person that did things properly and took pride in yourself, your work and home.
There have been stirrings and accusations in the world of holiday lets this month as HMRC announce a clampdown on holiday homes. Where does this fit in to the jigsaw of short term lets?
A slap in the face is more effective than ten lectures. It makes you understand very quickly. Leopold von Sacher-Masoch
Some financial knowledge comes easily, some is learned through sweat and some lessons must be a slap-in-the-face before they finally come home.
As landlords, we have all struggled with building trades over the years – big jobs are easy, you have a surveyor or similar to manage it, a contract with a builder chosen by tender and whilst much of the work is done 'as fast as possible' as opposed to as 'well as possible' generally, as long as the snags get properly recorded and resolved all is well. But...
So it's a rainy Sunday morning in Gosport and I have been reflecting upon the current state of the property education sector here in the UK. Like everyone else my Facebook and other social feed's are flooded with offers of free seminars, no money down deals, promises of a 7 figure salary or business, health, wealth and happiness!
Charlotte is having a month off, so I thought I'd use her spot to share a thought this month as I just bought a new washing machine for one of the houses. At £229 from ao.com with free delivery it was a no brainer, why even try and repair the old one. Not only was the new one A+++, it had a 10 year parts guarantee AND it was SMART - but that's where my worries began
I like my small business, it feels good to break free from work, shift for yourself and hear the ker-ching of money you have made yourself. This last 2 weeks has been eerily quiet so a great opportunity to reflect (as well as clean my much-neglected house).
What happens to your short term let business when guests, or weather events of Biblical proportions, let you down?
Diversify or specialise, think big or be content with small, be out there or safe in here..
There are many sorts of people, a few ways to put them in categories could be specialists vs generalists, big-picture vs attention-to-detail, risk taker vs risk-averse. Personally, I am each and every one depending on the day of the week!
Swept up in ‘this time next year we will all be millionaires Rodney’?, never fail to create a joint venture agreement. Pulling together gives great value but what happens when you are pulling against each other?. My transition from Teacher and landlord to Serviced Accommodation provider has been enlightening of the value of the unseen benefits, and some of the disadvantages, of working for yourself and together.
On a boat today, at the confluence of the muscular Chobe river and the mighty Zambezi. Where trucks wait patiently for 3 weeks to board the Kazangula ferry from Botswana to Zambia. Four great countries share a border midstream. Botswana, Zambia, Zimbabwe and Namibia. Divided by culture, language, allegiance and ambition.
I am enjoying the fruits of my labour with a big family trip to Botswana. But what are the lessons for my business?
Market trends. You may wonder why, oh why it is a good idea to spend up to £800/month on a room in a cluster-flat in a student block. It would appear that students may not be the dim-witted sheep that the developers presumed.
To welcome visitors? Or to huddle in our insular security? Portsmouth is very much an Island City both in geography and mentality. It is both what makes us special and hinders our progress. Whatever you view our place, it is a one-off location. This month I share some views from fans of our City, Pride in Pompey is strong and after 25 years here I am almost a local.