With interest rates falling and the value of your savings being eroded, many people are looking for alternative ways of getting a good return on their investments.
This is leading some to consider holiday home property management for the first time. In some cases, this may be people who have a second home that until now they have kept for use by their own family but who are now considering renting it out as a vacation home to make additional income. You can also hire property managers for these services via airhosted.ch/vacation-property-rental-management.
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In other cases, it may include people who have snapped up property at bargain prices in the weak real estate market, and who are now looking to establish high yield holiday rental properties.
If you want to run a holiday letting business, you will face new issues and challenges, some of which are quite different from those associated with owning a second home for private use or long-term lets.
Many people let out second homes, but it is vital to realize that the rules change significantly when you are letting out your second home to members of the public as a holiday home.
There are legal Health and Safety obligations that you must understand and comply with, as otherwise, you run the risk of prosecution.
Take expert legal advice if you are renting out a holiday home abroad as each country has its own laws. The whole area of public liability is fraught with pitfalls, so do not fall into the trap of being unaware of your responsibilities, as ignorance is no defense in a court of law.