Newbie questions

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.
Wiltscottage
Posts: 9
Joined: Tue Jan 14, 2020 11:29 pm
Location: Bradford on Avon

Newbie questions

Post by Wiltscottage »

Hi all,

Having considered it for years, I’m in the process of buying a holiday home near bath which I am planning to Airbnb. This forum has been a mine if information so far so I hope you don’t mind if I ask a few newbie questions!

Firstly, I was planning to Airbnb and manage myself, but now thinking perhaps I need someone on the spot as I live a couple of hours away. Does anyone have any experience of using an Airbnb management / co-host?

I’m meeting a rep from Sykes next week. I gather they aren’t popular among forum members but don’t really yet understand why. Is it possible to be both listed with Sykes and Airbnb?

On another note, as I’m furnishing from scratch I’m looking for good quality but low cost furniture. I’ve come across a company called HLF or Holiday Letting Furniture. Most ranges are solid wood and it looks similar to furniture in a hotel managed lodge that I stayed in recently. Because it’s online/ brochure ordering I can’t see the furniture before purchasing. Does anyone have any experience of HLF quality?

https://thehlfgroup.com/

I’ve seen lots of great info on beds on this forum so planning to use hotel contract zip link.

I’m sure I’ll have a lot more questions but for now, many thanks in advance for any advice on these.
Joanna
Posts: 1091
Joined: Thu Aug 23, 2007 3:12 pm
Location: Chester, North West England & Sidmouth, East Devon
Contact:

Post by Joanna »

No experience with an Airbnb management company.

We did have experience with Sykes when we first set up. The reason so many of us have issues with them is because they prioritise high occupancy. They suggest that if you're not fully booked then you're doing something wrong. However, the way they achieve high occupancy is by under pricing. This leads to a combination of guests who don't value your property and treat it badly, constant wear and tear and not enough downtime to carry out essential maintenance. Also, potentially not enough profit for maintenance either.

When we left Sykes I started edging our prices up each year to see what effect it had. After a few years I was charging twice as much as Sykes had for the same weeks. We had less bookings and more profit. In those days it was easier to leave them - I think their contracts are stricter now and you could find yourself tied in for long periods if you find it doesn't work for you.

I quite understand if you don't fancy managing it yourself to start with. Are there any local agents in your area? Standards vary quite a lot but if there's a good agent they could be well worth the money. They'll be able to sort out maintenance issues and arrange cleaning and safety testing etc. much better than a national company can.

Where is your property?
Jo

Joint owner of Baker's Cottage in Chester & Chandler's Cottage in Sidmouth
Wiltscottage
Posts: 9
Joined: Tue Jan 14, 2020 11:29 pm
Location: Bradford on Avon

HLF

Post by Wiltscottage »

Thanks Joanna,

Lots of really useful info there, so good to know.

We are buying in Bradford on Avon and I thought that I had found a local agent, but turns out that they are also part of Sykes.

I'm meeting with a couple of agents next week.

Thanks again

Claire
akwe-xavante
Posts: 306
Joined: Wed Jul 01, 2015 3:19 pm
Location: East Yorkshire

Post by akwe-xavante »

I experienced exactly the same scenario as Joanna above but I went with Cottages.com. To get out of contract I had to say I wanted out before May to get out 18 months later.

If you say you want out in July for example it will 2yrs before you can leave!!!!!!!!

I left cottages.com and my profits are higher with less footfall and a lot less damage and thefts. A lot less hassle and trouble all round.

I'll never go with an agent again.
Semele5183
Posts: 1
Joined: Tue Jan 28, 2020 9:28 am

Post by Semele5183 »

Hi Wiltscottage

How did you get on with meeting the Sykes representative? I'm in the same situation of starting out with an inherited property that's too far away for me to manage myself. I've spoken to Sykes and have arranged to meet someone next time I'm in the area, but that's some time away.

Feeling a bit overwhelmed by it all atm!
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