We are just completing the complete refurbishment/restoration of an 18C cottage in Bath. It has three double bedrooms, 2.5 bathrooms and would make an ideal AirBnB because it has large gardens, overlooks a field of Alpaca, feels like it is in a village in the English countryside, yet, is only 10 mins walk from Bath Spa Railway Station. The only problem is, well, Covid and the explosion of Bath hotel accommodation – which will mean occupancy rates will probably be insufficient for a reasonable return – particularly when you factor in the extra fit-out costs for furniture/linen/TV’s etc.
So, we have hatched a plan – which is either bonkers or brilliant – you can be the judge…
On the side of the property is a large clean/dry/light garage – which at some time probably was actually a stable that housed a horse or two – rather than a motor vehicle, so this would make for quite good storage and there is a reason for me calling this out at this point. Also, handily, Truespeed (up to 1 Gbit broadband) have just hung a fibre on a pole opposite. Read on…
We have done a lot of research and realise, particularly in the Bath area, that there is a significant supply issue with temporary accommodation for people who are between properties - having sold their own home and have a chain delay OR can’t realistically move into their new purchase until remedial work/design changes are completed (this is exacerbated with a scarcity of building materials and tradesmen etc). The plan is therefore to maximise revenue by creating the best and easiest “bridge” experience between a customers old and new home. Kind of “If Carling made rental properties”…
We are therefore hatching a plan to let the cottage unfurnished – but with all (high quality) white goods/cooker included.
Unfurnished – so tenants save on storage costs (hence my mention of large clean/dry storage in garage).
Fully inclusive – zero hassle of signing up for services etc: the “rent” will include Gas/Electricity/Water/Broadband and Council Tax.
Obviously we have to get our numbers right in case the tenant plugs in multiple electric heaters and leaves the shower going all night etc – but we have a Smart meter and good records of the last 4 years usage – so will factor in extra for risks etc, etc.
I guess we would go for a fixed tenancy – say 4 – 6 months and make it part of the deal that we issue a termination notice on the first day of rental (or whatever is appropriate).
The key problem, and one I am still scratching my head over, is payment of council tax. As far as I can tell, it is the tenant who is responsible and HAS to pay (indicates the council) but realistically, would the council be that bothered (as long as they were getting the money) if I paid the council tax and not the tenant? Any bright ideas for how to do this and give the best tenant experience?
