Is there a market for holiday lets?

Hi all,

Hope you can help me with some advice.

I have 2 x 2 bed penthouse properties in Roda which since 2006 I've rented out long term as the financial crisis severely affected my business so we needed a steady income to pay some of the mortgage.

Now I'm in a position where I'd like to use one of the properties if possible so am thinking of going down the holiday lets route so we can go out there on occasion but I still have to get some rent to contribute to the mortgage.

Can anyone let me know if there is a market for holiday lets and what you could expect in terms of weeks per year bookings. I can see that prices per week range between 275 and 400 euros depending on season but I'm not sure if the people renting these are getting any bookings?

Long term lets are only yielding 400 per month so wouldn't need that many to replace that income.

I'd really appreciate any advice as quite frankly I really need a holiday and I'm pretty sure this is the only way I'm going to get one:)

Many Thanks,

Aaron.

Hiya

 

Might be wiser (in view of the horrendous amount of work needed to generate holiday bookings - and I know what i am talking about here) that you keep renting your places out long term to keep your returns going and just rent another apartment on Roda for your holiday.  You just might be better off.

Best 

Sandra

Hi Aaron,
I rent my place out long term and find it brilliant in coparision to the holiday market. There is a market there but it is very hard work for what it is and there is additional expense such as the advertising, cleaning and utilities. When we go over we just rent somewhere which is reasonable enough but we don't get out very often. If you visit regularly the holiday market would work out better.

Overall I hope I don't have to go back to the holiday rentals!

Good luck

Thanks for the feedback guys...I'm heading out over Easter as there is no one in one of the properties at the moment so I'll make a few decisions then:)

Thanks again.

Aaron.

Hi Aaron

As Sandra has said, the holiday rental market is hard work. Roda is now quite saturated and very cutthroat and the returns at the moment are really poor. I know someone with a 2-bed penthouse that manages to rent out lots of weeks at good prices. But it has all the facilities you'd expect up on the roof terrace including pergola, sunbeds, kitchen area including fridge and BBQ, comfy sofas, and dining table plus good lighting. So lots of initial outlay.

Phase 1 rents better than phase 2, and lettings on phase 3 are hard to achieve where there are idiots renting out in the summer for €200 a week (and it doesn't look as though they get a huge number of bookings) which ruins it for those of us trying to rent at a sensible rate and (god forbid) try to make a profit or at least cover costs.

I have a 2-bed 1st floor on phase 2 and rentals have seriously deteriorated over the last 3 years. This after 4 years of very good rentals. The advertising cost is high, and if you are remote you will have to pay a management agent to clean and look after the property - and this is also not cheap.

My advice would be to stick with the long term rentals!