Homes in the News
homes are very much in the news at the moment.
It is the time when owners of self catering properties much achieve
their booking quotas and especially in 2009 when many prospective
holiday renters are searching for bargains.
Independent” ran a feature on the 22nd April entitled
“If you want your holiday rental to stand out from the crowd, a
quirky interior with a local touch is essential”.
article went on to describe how twenty years ago life was so simple
for the holiday home owner. You bought your holiday rental and furnished
it with leftover from your own home or local cheap and cheerful
furniture from the locality. Then you put an ad in the Sunday newspaper
and the enquiries and bookings flood in.
2009 it is a different story. Prospective renters want to see photos
and details on the Internet so that they can compare holiday rentals.
A property owner in Portugal was quoted as saying you need individual
furniture, pictures on the walls and leather sofas that are easier
to clean rather than cream linen covers that show every stain.
the April 2009 edition of the ARLA (Association
of residential Letting Agents) “Agreement magazine there
is a three page feature. The article says that a growing number
of letting agents are going into holiday lets. These would be in
the UK and don’t have to be by the sea. Cities like Bath, Edinburgh,
Oxford and London have a fifty two week a year appeal. Many holiday
lets are in fact used by business people who don’t want to stay
in a hotel for example.
the strong euro and dollar against the weak pound sterling, many
people will be looking at staying in Britain this year. Advice in
the ARLA article for Landlords/property owners is not to skimp on
fixtures and fittings and make sure that widescreen televisions,
Internet access quality kitchen and bathrooms are supplied. There
should be a good heating system and this of course applies to that
holiday rental in Spain or Portugal, particularly if you are attracting
provision of a cleaner is essential, after all your guests are on
holiday and don’t want to spend the time cleaning. Dishwashers and
washing machines should also be supplied.
Agreement article goes onto to define a “Holiday Home”
property can be defined as a holiday home for tax reasons:
it is available for letting to the public for at least 140 days
of the year
It is furnished – meaning furnished so that people can live in
it without having to bring their own furniture.
It is occupied with paying guests for at least 70 days in the
If individual lets do not exceed 31days
If the property is not let to the same person for more than 31
days in the year.
benefits are that a holiday home is treated as a business asset
unlike a buy-to-let property which is currently not. Thus a holiday
home is more favourably treated by the tax authorities – losses
can be set against overall income and a Capital Gains Tax exemption
means that owners can roll up from selling to go on to buy another
holiday home (Source ARLA Agreement Magazine April 2009).
regarding tax on your holiday home income, many countries have tax
treaties with the UK, but you should check the situation out carefully
so you don’t pay tax in two countries. Many European countries now
have methods of finding out who owns a holiday home property and
if the owners are paying tax.
important area for homeowners to consider is the insurance on the
holiday let. Insurance written in English arranged via UK brokers
and insurance companies make a lot of sense. To find out more visit
you want to let that holiday property, you can advertise it at an
incredibly reasonable annual cost of £11.75 including VAT at
Together with euro-rentavilla.com the website has been running since
2001. (N.B. This information is from 2009
and no longer available from jmlvillas)
jml Property Services April 2009
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