What return do you get (or would you need) on a holiday home/BTL?

[LondonManc]

Certainly less blubber. People actually exercise.

Football hooliganism *is* exercise.

[d000hg]

They don't seem to have a problem from what I can see...

I would agree with the 1200 - 1700 mark being the good stuff

Thought about it but don't want to commit the capital required just yet... figured we'd try the water with a property that realistically could be resold quickly without costing us much.

So if you buy a flat in Leeds, it's a BTL but the same in Torquay equals a holiday let?

If you let it out week by week, furnished, it's a holiday let (FHL). You can't have people stay longer than 31 days on one go and it needs to be let for 201 days a year (from memory, there are some areas of leniency).
BTL/FHL are quite different in how they function.

[LondonManc]

If you let it out week by week, furnished, it's a holiday let (FHL). You can't have people stay longer than 31 days on one go and it needs to be let for 201 days a year (from memory, there are some areas of leniency).
BTL/FHL are quite different in how they function.

Thanks. Like I said, I'm a couple of years behind you on this plan. I'm definitely looking at FHL rather than BTL.

[d000hg]

It is a weird model, that you a buy a place to leave empty 50% of the year. Not wonderful for local communities but still better than people buying a 2nd home they spend 3 weeks in a year!

That's what this flat was. It sat empty presumably 40+ weeks a year, weird!

[MarillionFan]

It is a weird model, that you a buy a place to leave empty 50% of the year. Not wonderful for local communities but still better than people buying a 2nd home they spend 3 weeks in a year!

That's what this flat was. It sat empty presumably 40+ weeks a year, weird!

Or that no-one wanted to rent it. 150k has to be a crap flat.

[LondonManc]

It is a weird model, that you a buy a place to leave empty 50% of the year. Not wonderful for local communities but still better than people buying a 2nd home they spend 3 weeks in a year!

That's what this flat was. It sat empty presumably 40+ weeks a year, weird!

I'd see it as somewhere for us to go and chill when we're not renting it out.

In terms of the day rule, is it the days that you have it available for letting or the days that you actually let it that qualifies it as a holiday let?

[scooterscot]

Got close to 80% occupancy last year with city pad;-)

[d000hg]

Or that no-one wanted to rent it. 150k has to be a crap flat.

You're just wrong. Property prices aren't the same everywhere as in London. Some simple maths looking at rental prices or holiday let prices down here show that it's reasonable - it might rent for £600pcm or a bit less.
Cornwall is generally not an expensive area for property, not far off the North (where £160k can get you a 4 bed detached house with garden in an OK neighbourhood or 2-3 such places in a rough area)

I'd see it as somewhere for us to go and chill when we're not renting it out.

In terms of the day rule, is it the days that you have it available for letting or the days that you actually let it that qualifies it as a holiday let?

I think the rules are on the latter but with some flexibility if it is available. However you can't count weeks you give to your mates really cheaply... HMRC's site is actually full of useful stuff with examples for FHLs.