The Lake District, with its mesmerising landscapes and enticing attractions, is a dream destination for many holidaymakers. This naturally makes it an incredible spot for holiday let owners. With the potential to generate a steady stream of income throughout the year, owning a holiday let in the Lake District is an investment worth considering.
How Much Will Your Lake District House Make from Holiday Letting?
When it comes to the actual income you can expect, it varies widely based on factors such as the size and location of your property, and how often it’s let out. Ballpark figures for income from a Lake District Holiday let can be anywhere from £20,000 to more than £100,000 per year before expenses and tax, but that’s only the tip of the iceberg.
To break it down further, potential income depends on:
- Size of the Property: Generally, the larger your property, the more you can charge. A 4-bedroom holiday let can attract higher prices than a 2-bedroom cottage.
- Location: Properties in popular tourist areas or with stunning views often fetch higher rates.
- Occupancy Rate: This is the percentage of time your property is let out. The more days it’s booked, the higher your income.
Keep in mind that these figures are estimates. Actual earnings can vary, and operating costs also need to be considered. At Laik we can help advise you on these costs and support you in optimising your business to maximise your income.
How Can You Increase the Revenue?
If you’re keen on maximising your income from your holiday let, here are some tips to consider:
- Décor: Creating a cosy and attractive space can leave lasting impressions on guests, leading to repeat bookings and positive reviews. Take a look at some of our properties to get some inspiration on stand-out design and décor that have resulted in some of the Lake Districts’ top-performing holiday lets.
- Number of Rooms: More rooms generally mean more guests and, consequently, higher income. But you do need to balance increased size with increased running costs. Some of our best performing holiday lets are beautiful one-bed apartments, perfect for couples and full all year round.
- Sofa Bed: Offering a sofa bed can increase the number of guests your property can accommodate, thus raising the potential income.
- Dogs: Many holidaymakers love to travel with their pets. Allowing dogs can widen your market, 29% of UK adults have a dog and because of this, these guests often tend to holiday in the UK.
- Hot Tub: Amenities like hot tubs can greatly increase the appeal of your holiday let. In fact adding a hot tub can significantly increase the nightly rate, but again this needs to be balanced with the extra costs of running and maintaining it.
- Patio: A beautiful outdoor space for guests to relax can be a significant draw, especially in the summer months, great for BBQs with family or friends.
- Let with Us! Partnering with a professional holiday let company like Laik can take the stress out of managing your property and help you maximise bookings. As experts in our industry we tailor our advise to each client and can help our owners to create outstanding holiday lets that our guests adore and return to.
What is the Best Location for Lake District Holiday Lets?
The South Lakes region of the Lake District stands out as an ideal location for holiday lets. It’s home to charming towns like Windermere and Ambleside and is known for its stunning lakes and fells. A holiday let in this area can be a magnet for tourists. It’s the area which receives the largest numbers of visitors and that number continues to grow each year.
Why Work with Laik?
At Laik, we’re all about helping you:
- Maximize Your Income: Our local knowledge and marketing strategies aim to keep your property booked and your income flowing. And if required, our design service can help create outstanding holiday lets that guests return to again and again.
- Worry Less: We handle everything from bookings to maintenance, allowing you to enjoy the income without the headaches.
- Forget About Guests: We take care of all guest communications and requirements, ensuring they have an unforgettable stay.
- Reap the Rewards of Our Boutique Service: Our bespoke service takes care of every little detail, providing a seamless experience for both you and your guests.
Final Notes On Potential Income from Lake District Holiday Letting
In conclusion, the income from a Lake District holiday let can be significant. The actual amount depends on a range of factors from the size and location of your property to how it’s managed. Incorporating thoughtful amenities and partnering with a company like Laik can further boost your earnings and simplify the process.
Interested in transforming your Lake District property into a profitable holiday let? Get in touch with us