My wife and I are contemplating buying a small place and initially going through a Sykes type company to see how it pans out, with a view to possibly going alone sometime in the future.
The biggest grey area I have in my head is over likely gross rental income. I was wondering if any of you might be able to give me an educated guess! An online calculator where you input the location and number of rooms comes up with a big range of 9 to 13K, and to complicate matters further when we spoke to somebody at Sykes they said it could be up to 16K, which I suspect is a bit optimistic.
We will be looking at one bedroom places in the Cromer/Sheringham area and we will be fitting it out to a good standard, aiming at couples. We will only contemplate places that have essential facilities close, most importantly pubs that do food and it must also have its own off street parking, or on street parking virtually outside.
Any help appreciated.
Holiday let in North Norfolk
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Ecosse
- Posts: 812
- Joined: Thu May 29, 2014 10:40 pm
- Location: Saint Gervais les Bains, France
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While I don't have first hand experience of Sykes, I gather from posts about them that they aren't the best. They may get you 16k gross by achieving a high occupancy level (but by offering it for a cheap price) but after you factor in your running cost (Sykes fees, cleaning, damages etc.) you may find yourself with little or no profit.
