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Properties in this article were available or let as of 2 September 2024
Claire Pile, Associate Partner, lettings training and development manager, looks at the advantages for holiday let landlords, switching to medium/long term rental opportunities.
Following the recent announcement confirming the abolishment of the Furnished Holiday Letting (FHL) tax rules in 2025, many landlords who let their property on a short-term basis are now exploring their options, to include medium to longer term letting. Currently landlords of short-term holiday lets/Airbnb’s have benefited from tax advantages, however, the changes will make it much harder for individuals to claim some of their costs associated with letting. The aim of these changes (apart from raising revenue) is to eliminate the advantage furnished holiday lets have benefitted from. They will now be treated the same, for tax purposes, as unfurnished medium to long term lets.
Not only will these potential changes make it harder for these types of letting to be profitable, a further consideration is post pandemic, with poorer occupancy levels, income has been affected. In addition, with increasing maintenance, servicing and energy costs there are also other advantages to consider in passing some of these costs onto a longer-term tenant.
If you are curious to know more about letting on a longer-term basis or would like to know the potential letting value of your property then contact a member of our team.
Stags letting department are pleased to successfully manage a mixture of properties that have switched from holiday rentals, to medium/long-term rental properties:
Buckland St. Mary, Chard, Somerset
Available: £1,000 PCM
A lovely, 1-bedroom, fully furnished, barn conversion set within a rural location. Comprising; open plan kitchen/diner, shower room and bedroom. Benefitting from a lovely garden area and off-road parking. The property is offered furnished and available now.
Dog considered (terms apply). EPC: C. Council Tax: A.
Appledore, Bideford, Devon
Available: £3,000 PCM
A unique opportunity to rent a large, modern, detached 4-bedroom property offering, arguably the best coastal views in North Devon. Available as a fully furnished, winter let for 5 months starting from 4th November 2024.
EPC: A. Council Tax: Exempt.
Georgeham, Braunton, Devon
Available: £1,150 PCM
A quintessentially English, 'chocolate box' attached, period, cottage in a sought-after village close to North Devon's premier beaches and coastline. Part furnished.
EPC: E. Council Tax: C.
Applefore, Bideford, Devon
Let: £1,300 PCM
A charming, converted 4-bedroom former fisherman's cottage directly situated on the Taw/Torridge Estuary enjoying outstanding views and located on one of Appledore's most desirable streets.
EPC: D. Council Tax: B.
If you want to see more rental properties currently on the market, please visit our property page.
