Posted: Sat Jun 18, 2022 9:03am
Let's have a look at the title of this subject again. Let's take the year 2022 which has just emerged from 2.5 years of Covid during which every holiday home owner took the blows to the chin and had no other choice. Utility Charges have risen, Bank Charges climb faster than Ryanair, Cheap Flights are now a memory, Maintenance, Cleaning,, General Cost of Living costs haven't levelled out yet. You still have the concern that somebody will break the lock and get free accommodation and utilities at your cost. Holidaymakers can scream that they weren't the cause of Covid (and they are right) and want summer and long term rentals at the 2019 price. You want to accommodate to your clients for their loyalty and so it will be 2023 before your property will earn some income.
Like Susi said if you are frugal you can earn something from your holiday home by doing changeovers etc yourself, but you won't be paying yourself for the labour, maintenance etc.
I'll translate this from English to English:- You ain't makin' worthwhile money.
Herr Crank disagrees with most of us and no problem there as he is entitled to disagree. He may not be right, but I don't begrudge his disagreement.
I know people in Mojacar who'd rent out a shed to a pauper for as much as they could get and have no issue with morals. I know others who have moral responsibilities and just want to be fair (I'm one). Fortunately, the latter are in the majority.
But, if anybody thinks a decent living can be made after all expenses (especially mortgage repayments) after renting out an apartment I won't be taking tips from them in next year's Cheltenham Festival.
The obligations on renting out holiday homes are not going to get any easier going forward. If anything they will become tighter. Take Ireland (where rental charges are near EU highest) and the main problem now is that landlords are exiting the business as legal and penal obligations have shifted towards them and one tenant can hold them to ransom at no cost and still get government support. Again let me translate this from English to English:- In many circumstances landlords in Ireland are paying their tenants to leave the property (I kid you not). Try and come to terms with that translation.