Letting your Scottish holiday rental home?
POINTS TO CONSIDER AS A PROPERTY OWNER LETTING OUT RENTED ACCOMMODATION
Make sure that the price is competitive.
If the rental is too high it will not attract visitors.
Ensure that the prices are kept up to date on your entry on
jmlvillas.com website** this can be done by you whenever
you want to online.
LOCAL AGENT: If you do not live near the holiday property,
you must employ a good local agent who can check your visitors
in and out, arrange cleaning, routine repairs and replacements,
arrange linen hire or a laundry service and keep an eye on
the property when it is not occupied.
agent should be able to provide a "Welcome Pack"
if you want to provide one - bottles of wine for example or
more ( tea coffee bread etc) if the visitors are arriving
late. You should provide your agent with the visitor's contact
details and vice versa so that they can contact the agent
if they are delayed or lost.
The agent can of course be a friend or relative living locally,
but it should be a business relationship and the agent
should be paid.
RENTAL AGREEMENT: If you are letting a holiday property
in France you must provide a written agreement. In other countries,
although it might not be a legal requirement it is advisable
so that your terms of rental are clearly agreed.
The document need only be 2/3 pages in length and include
the names of the visitors, the dates of the rental. The amount
of damage deposit you are going to hold, The rental price,
cancellation of rental charges. Additional costs e.g. electricity,
linen hire etc.
A clause stating that if a local agent has to meet the visitors
at an unsocial hour, then any additional costs paid to the
agent will be paid by the renter. If it is a legal requirement
in the country concerned that the renter takes out insurance,
then add it into the agreement.
INVENTORY: It is essential that you have an inventory
of the contents that can be checked in with your guests. Either
the owner or local agent should politely point out that if
the visitors break equipment, if they are glasses for example
then they should replace, if it is more serious - bed, window
etc, then immediately report it.
Provide a ring bound folder with some notes about the property
- how the hot water system works, where the rubbish should
be put, information on local shops, restaurants and attractions
INSURANCE: You must make sure that your property is properly
covered for holiday lettings. You should advise the insurance
company that it is being let for this purpose. In some countries
(France for example) the people renting must also take out
insurance by law, but you must also be covered. If you are
looking for a policy visit our Insurance
LOCAL REGULATIONS: You should ensure that your property
complies with the country regulations for safety issues.
In Britain for example a holiday home must have
furniture that complies with the fire & furnishing safety
regulations and displays the appropriate safety label.
There are also gas and safety regulations in certain countries.
If in doubt talk to the local Tourist Office/ local authority
office in the area your property is located in.
France, rental properties with more than 5 bedrooms
are legally classified as a small hotel. Hotels are classified
as public buildings requiring specific fire protection such
as fire doors and officially approved smoke alarms. These
regulations are enforced by the Mairie. Although there is
no specific legislation for fire safety in in private properties
or rental properties with less than five bedrooms in France,
in any country the owner must have a duty of care to his/her
guests and install basic fire protection such as smoke detectors,
fire blankets and fire extinguishers. It is suggested
that the emergency services numbers are included in any Property
TAX: It is advisable to consult an Accountant regarding
any tax liability from letting out your holiday property.
If the property is not the country you normally are resident
in then contact an accountant in that country first. Many
countries have Tax treaties with other ones, but the issue
is very complex and the Tax Authorities do have ways of finding
out about properties that are being let out
AVAILABILITY: Ensure that the Availability dates are kept
up to date on your entry on jmlvillas.com**
PAYMENT OF RENT: Do take great care when accepting rental
payments. Some people are able to accept credit card bookings,
but for the majority they are dependent on payment by bank
transfer or when the guests arrive.
- RENTAL SCAMS IN HOLIDAY LETS CLICK
HERE FOR DETAILS YOU COULD BE NEXT - Property owners in
Scotland have been targetted in 2004 and 2005 - So Take Great
Take great care — if
someone is making a booking well into the future, the ideal
situation is to obtain a booking deposit at the time of booking
and the balance two months before they are due to arrive.
Stipulate those terms in your rental agreement and also on
any printed booking forms.
PRE - LETTING CLEANING: -Make sure the property is clean
and tidy before the guests arrive. At jmlvillas.com we
have received complaints that the property was dirty and even
someone still in there when a guest arrived in the early afternoon.
Make arrangements to have the property cleaned thoroughly
in between lets and if it stays vacant for a while between
a let, have it cleaned before the new guests move in.
SWIMMING POOLS: Remember
that many countries nowq have specific rules for swimming
pools (alarms / fencing in France). Ensure you are properly
insured, arrange for a regular maintenance contractor to check
it and if it is a Communal pool remember to advise your renter
guests that it could be closed for a maintenance project during
their stay. There are occasions when they have to be drained
or r-tiled and will be out of use for several days)
KEEPING FOR PROPERTY OWNERS: As
a property owner ou are required to maintain complete records
of all expenses incurred and the income received from your
properties. This means that you must hang onto every
relevant receipt and keeping details of any personal assets
you used for the property business. An example of this would
be to note down the details of all journeys you make concerning
your property's business, the portion of your home used to
process related paperwork and time spent on your computer
carry out work for the property.
should retain all bank statements and all records have to
be retained for five years after the tax return filing date.
Any receipts regarding property improvements should be kept
for six years after the end of the tax year in which the property
is sold. If you don't keep tax related records you could face
a UK fine of £3,000.
Good luck with
your holiday lettings and if you have any further tips for
property owners to be added here, please email
them to us.
Please note this guide has been compliled from experience
Services takes no responsibility for the accuracy of its content.
Property Services taks no responsibility for any bookings
or dealings between a renter and a property owner.
jmlvillas.com is the main web site for advertising holiday
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