As the rental space became overwhelmed with paper and legislation, holiday letting was a breezy, carefree alternative. No tenants, licences or council visits. Not for much longer!
A place in the Sun?
By now, my readers will know all about holiday letting in Southsea, but do you dream of foreign climes?
Dry January
Once again the tumbleweed is blowing through the bookings in the short let industry, what to do?
2022 is a year best forgot, roll on 2023
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.
November notes for a small business
Remember, remember, November means admin on this team…
Autumn leaves
Autumn is the time for planning routine maintenance and counting the 'falling leaves of bank notes' of the Summer season.
What the!!!
The recent financial shock has yet to be felt in the holiday let market, but what does it mean for hosts?
What the fuel price increase means for your holiday let.
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?
Ready, Steady Summer!
Stop the clocks, forget the social life and make hay while the sun shines. This is why we do it folks!
Does increased legislation really help?
There are many calls for greater legislation; whenever there is a complaint these days the answer is to increase the bulk of the Law. I believe that we should rip it up instead and let the market decide.
Sharing economy- opportunities to make and save money are still there
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?
Ups and downs for short term rentals
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?
Notes from distant places
The world of property has consumed my last month. A business trip to the French Alps, working on the new Plymouth project and fresh determination to systemise and outsource parts of my business.
Airbnb: From home share to $4bn global titan
I am going back to the roots of Airbnb with a home share this weekend, the global corporation has modest roots that still work just fine.
Long distance investing
I am not exactly writing from a far away beach but our long awaited bungalow in Plymouth has its renovations underway. This is a new way of updating properties for me, an 8 hour round-trip has to be taken seriously!
On board USS Small Enterprise, Star Date 2022
I am a starter – this means that I am comfortable setting things up, winding the clockwork handle, but then like to see things roll away. 2022 brings another new start for me so happy days.
Life from the sofa...
November is creeping into December. It is a full 2 months since I have set foot inside any of my holiday let properties (broken ankle…still!) and my imagination is running riot with imagined disaster.
Looking forward to a relaxing retirement (just not quite yet)
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?
A sharp intake of breath
September this year has brought something of a slowdown after the hectic staycation boom of August. Fate has intervened again with a broken ankle so how best to make use of the time?
Ending the Summer Victorious
This year I decided I wanted it all, my desire was to max out the holiday lets AND attend the glorious Victorious with my friends. Was this too much to ask?
Do you follow the stars?
Holiday accommodation ratings systems have been around for a long time, but are they still fit for purpose in the digital age?
Finding my special niche
Shiny pennies in the property world…I am by nature discontent and fidgety. Having a property business fits this very well as all manner of things get thrown at you, but the latest idea to take my attention is a keeper for me.
CCTV A Mixed Blessing, But Then, So Are Guests
I took the plunge and bought ring video doorbells for my holiday lets, I really was better off not knowing!
Spring clean 2021
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.
When is a holiday let not a holiday let? When it is a holiday 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?
Holiday Lets in The News, good and bad
This month short term lets have been splashed across the local paper for good and bad. Nothing can quell my enthusiasm for opening up properly on 12th April but have I slowed down too much to get back into business?
'It's no holiday' - literally
I don't do stocks and shares, I don't do bitcoin, I am not even sure what FOREX trading is. Received wisdom is that wealth is best retained by diversifying your portfolio to weather the storms of financial life.
2020 - Ouch!
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.
What is the difference between a rogue and a craftsman?
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...
Guest Blog - Jonathan McDermot, TPX - How To Make Money With Property
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!
Rock 'n' Roll bank holiday weekends return
How do you get your kicks in lockdown? My rebellious younger self wouldn't recognise me.
Bouncing back (like an old tennis ball...)
Optimism deserts me as we dig in for the long Covid haul
The Thing About Smart Appliances
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
The C-word
What an err…interesting month it has been. For the first time in many years I have attended to numerous projects outside of the business…
Reflections on the current times
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).
Global Pandemic, weather mayhem and cancellations….
What happens to your short term let business when guests, or weather events of Biblical proportions, let you down?
What is your business character?
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!
If you want to go fast, go alone. If you want to go far, go together.
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.
Life's a beach (or within 500m of one)
Roses round the door and a lovely view? Fireplace? hot-tub?..we all desire must-have items for a holiday cottage but as an investor do the expensive options make for a good return?
Take back Control
Going along the path from landlord to business owner brings many twists and turns and endless err…learning opportunities but there are common themes to each strand of business.Whether single let, HMO or Serviced accommodation these things are true.
Load of Rubbish!
Don"t you just love saving the environment? If I know landlords, the only thing they like to save is money so I thought I would have a crack at combining the two and give a few ideas that do both.
While I was paddling up the Zambezi River...
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?
The domino effect of student tower blocks
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.
Our Strong Island
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.
Is there a hotel on your street?
The net is closing on short term lets, are you in or out?
The RLA published an article this week regarding short term lets "There has been a massive growth in short term lettings and landlords are moving properties from long-term to short-term lets due to Government tax changes... Disincentivising residential stock... and promoting short term holiday lets does not increase the supply of homes." (Dr Tom Simcock).
Hardly rocket science but what does that mean for we landlords here in Portsmouth?
Rent to Rent Strategy
If you want a future in property, chances are you have little money. Those of us with 5, 10 or 20 years' experience have often accumulated some so it appears from the outside a good way forward.
If you have little money there is a good chance that you have come across the training companies, all of whom offer "no money/little money down" strategy courses if, naturally, you will part with £5000 to find out how.
Tidy office, Tidy mind
Spring must be (almost) in the air. I awoke this morning, walked into my tiny office, pushed a pile of papers aside to try to find my laptop and decided that SOMETHING HAD TO BE DONE ABOUT THE MESS. I take great care to present immaculate apartments, houses and rooms but somehow my personal organisation falls short.
New Year, same old me!
A year ago my resolutions were the usual motley collection of be braver, faster, more successful, thinner and healthier. As is the way with resolutions they mostly "went west" this year I turn 50 and I can, supposedly, no longer pretend to be 40-ish. I have taken a less progressive stance this year.
I resolve to finally make the most of my properties!
Another year nearly done, roof still leaking? Woodchip still up? Tenants still creating mess? Have you followed the golden rules of Property Investing?
Written & oral information and advice from the Portsmouth & District Private Landlord's Association is given in good faith, but no responsibility whatsoever is accepted by the Association or it's officers for the accuracy of it's information & advice nor shall the Association be held responsible for the consequences of reliance upon such information.
