The getaway that delivers
WITH so many young people struggling to buy their first home it’s encouraging to hear of two who were so determined to get into property they have made a career out of it. Amy Gardner, 28, and partner Tom, 30, have three properties in Kent that they bought with hard-saved deposits to set up their own holiday home and house renovation companies.
After leaving Bournemouth University with Product Design degrees in 2012 they used every penny saved, doing literally any jobs available, to get a deposit for their first home, a 19th century cottage in Sissinghurst that they renovated using self-taught carpentry and building skills.
Selling the house in late 2015 led to the start of their business, renovating Bells Cottage in picture-postcard Tenterden in Kent. It’s now let out through Mulberry Cottages (01227 464958; mulberrycottages. com) and makes around £14,000 a year before expenses. The couple are now renovating a property in Canterbury as well as running an interior design business The Insider (insiderinteriors.co.uk).
They are also looking for private investors to help grow their business but renting out a holiday home can be a money earner for anybody with a little bit of know-how.
This is exactly what’s on offer from the agency Amy and Tom use, Mulberry Cottages, which is hosting a free Holiday Let Masterclass on September 27 at Battel Hall in Maidstone, Kent. The 14th century manor house on the edge of the Leeds Castle estate is also available as a holiday rent.
Talks include interior design, marketing and PR, finance and how to let, with Mulberry Cottages CEO Sarah Wood among the expert line-up. The former estate agent launched the business in 2011 and has seen the rise in demand of self-catering holidays since 2012. “This high growth started in earnest with the London Olympics, ADVICE: Sarah Wood, right, says the smart money is on holiday lets when UK plc became fashionable,” says Sarah. “Now Brexit and the drop in sterling has fuelled further growth as we have benefitted from international visitors taking advantage of the good value we offer.”
According to VisitBritain both domestic holidays and international visitors increased last year and Sarah says: “People now consider holiday accommodation as a real alternative to a hotel. It offers more flexibility, much more private personal space and often better value for money.
“For us, the key areas for European visitors are those properties within an hour or two of the ferry ports and terminals such as Dover, Felixstowe, Newhaven and Portsmouth, as well as areas like the Cotswolds that are much sought after.”
Other popular areas include the Lake District and Yorkshire Moors, western counties and the South West but it’s knowing where to buy that is key, says Sarah. “Our market is not about emerging areas at all. Edgy areas might seem like a good place for asset growth but you will struggle with holiday letting.”
Yet Sarah suggests buying a holiday rental home is a shrewd investment, saying: “A few years ago the smart money identified student lets and prime location lets as key investments. However, with all the changes to the tax laws and the demand for holiday letting this is not necessarily true now. “Profits could be put towards pension contributions, which brings other tax advantages and if you decide to sell there is the scope to reduce capital gains to a rate as low as 10 per cent, whereas typical residential sales attract the higher rate of 28 per cent.
“With holiday letting now offering such a fantastic income opportunity and a really robust return on investment, so many [investors] are considering it
as a viable option.” INFORMATION To register for Mulberry Cottages’ Open House go to eventbrite.co.uk or telephone 01227 806315.