- Is buy to let is dead?
- Are holiday lettings and serviced apartments the future?
For the average Joe, buy to let is dead, morte! Interest relief for landlords is coming to an end, there is a 3% stamp duty surcharge for anyone buying a second property in the UK and The wear and tear allowance for buy to let landlords is a thing of the past too. So if you are thinking of buying to let, you are late to the party. But don’t worry, there is another club in town, the holiday lettings club, and it’s bangin!
Holiday lettings have become extremely attractive to potential investors because of the rate of returns. Did you know that many holiday letters are making in excess of £1000 per week for a renting out there 2 bedroom flats as serviced apartments?
The same apartment would fetch a landlord £1100 per month if it were on the market as a buy to let property. HMRC also view holiday lettings as a trade which means there are tax advantages you would not get if you were a buy to let landlord.
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