Promotional feature: Cotswold Life talks to Character Cottages to understand the secrets behind holiday letting large properties in the Cotswolds
Owners of large houses often don’t consider holiday letting as they think that the demand will be low and it will be unprofitable. But are they right?
The great news is that large properties in the Cotswolds, especially those with traditional character, do very well as holiday lets! To understand why, a good place to start is by looking at the history behind the area.
The Cotswolds has a long history of working with wool, silk and other raw materials. As a result, many of the cottages in the area were built for the farm labourers and factory workers, and are quite small, typically with one or two bedrooms. Larger properties are less common and, consequently, this creates a restricted supply of big houses for the holiday letting market.
Many people are surprised to learn that the underlying demand for large holiday lets in the Cotswolds is very high. The central location of the Cotswolds makes it the perfect location for large groups of people, who want to get together to celebrate an event, such as a 60th birthday party, a family gathering or a reunion of friends. Hotels often don’t appeal to large groups, as they sometimes lack the desired communal feel and can often be too expensive.
Large holiday homes are a great solution for many groups, with enough room for everyone to stay under the same roof, and living and dining areas allowing everyone to gather socially together. Although the initial price can sometimes seem quite high for a weekend, renting a large property can often work out to be surprisingly cost effective on a per-person basis.
A further attribute of the demand for large Cotswold houses is that, being event driven, it is less impacted by seasonality. For example, if Grandad’s 70th birthday happens to be in January, then that’s when the group will want to book their break, regardless of the fact that this is traditionally a quieter month for holiday letting. This means large properties can command strong prices throughout the year.
When you combine the limited supply of properties with the strong and constant demand, our experience has been that large holiday homes perform exceptionally well in the Cotswolds. For example, we have successfully generated more than £90,000 per annum of gross income, from over 55 bookings, for a beautiful, detached, six bedroomed house in the North Cotswolds.
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At Character Cottages we are very experienced at marketing and maximising the owner profits on large properties. We can offer owners detailed support and advice on key holiday letting factors, including furnishing, pricing, occupancy, security deposits and how to find the right housekeeper.
To find out what your large house can do for you, just get in touch with us!
