Costs to Consider
1. Annual site fees/ service charges governed by the lease and due to the Landlord each April. Fees include ground rent, service charges, basic building insurance, water and sewerage. (Charges vary by property size and type but average between £2400 to £3800 per annum)
2. Annual Leisure Fees for use of the leisure facilities for you and your guests.
3. Electricity (Cost can vary depending on type of heating installed and usage, we suggest requesting previous bills form the vendor of the property)
4. Council Tax if not letting commercially or Business rates if property is available to let for a minimum of 140 days per year. Holiday properties with a rateable value such as the properties at Honicombe currently benefit from 100% Small Business rate relief, this is subject to meeting certain criteria which can be found on the Government’s web site www.gov.uk>small-business-rate-relief
5. Contents and public liability insurance
6. Annual PAT testing of all portable electrical equipment
7. Interior decoration /maintenance
8. Commission if using a holiday letting agency (we charge a flat rate of 15% + VAT).
9. Income Tax liability on net profit from lettings (refer to HMRC form HS253 Furnished Holiday Homes)
10. TV Licence
11. Broadband, there is currently only one provider of broadband onsite in addition to the option of mobile broadband.
12. Housekeeping/changeover service.