Holiday Lets

I've been giving some serious thought to this. I've been doing a little research and read that there is currently a shortage of holiday let properties on the island. However, the property market has improved and prices have soared, so buying a really nice property is out of my budget now. If I had been a bit more switched on I would have bought another house like Morlais back in 2011. So, I'm looking at buying into the cheaper end of the market. We viewed a property last week but decided that it was too noisy and needed too much work doing. I could turn Morlais into a holiday let as it ticks all the boxes with location, views, beaches, coastal walks, etc, but I'm not keen on that idea. I've spent a lot on renovations and buying things to make it nice. My home is my castle, don't want loads of strangers trampling all over it. And, I would still have to buy somewhere for us all to live. There is a lot to take into consideration and I also have to think about reselling a property in future. There are lots of cheap end properties for sale up here and they take awhile to sell.

Just wondering if anyone on here has a property they rent out as a holiday let? And, if so, what their experiences have been.

 

Thanks for the advice . I don't need a mortgage but the capital gains tax will likely still apply. I don't think there is any vetting involved with a holiday let, they just book and pay in advance through the holiday lettings company. Different with tenants, who are subject to various checks. There's a lot to think about.