A furnished property may have the potential to host guests during a sales campaign. Before proceeding, consider how the income opportunity fits with the access and flexibility needed to sell.

Check whether the preparation makes sense

If substantial furnishing or setup is required, the cost may not suit a short campaign. Consider the likely period of availability, turnover costs and whether guest stays will help you achieve your overall objective. There is no guaranteed income or sale outcome.

Coordinate inspections and guest stays

Agree an access plan with the sales agent and accommodation manager before bookings are accepted. Avoid making promises about buyer access that conflict with guest arrangements. Allow for cleaning and presentation between uses, and clearly communicate any proposed access arrangements in advance.

Be careful with forward bookings

Discuss how far ahead to accept reservations and when availability should be reviewed. A booking made before a sale may extend beyond the expected settlement date. Your solicitor should advise on the contract and any obligations that need to be addressed. Do not promise that bookings transfer to a buyer or can simply be cancelled.

Keep the campaign information current

Review the calendar when an offer progresses or a contract is signed. Keep the sales agent, accommodation manager and solicitor informed of relevant changes. Update public statements when the property sells so a past example is not presented as currently available.

Questions to resolve before starting

☐ Does the likely income justify setup and operating costs?

☐ How will buyer viewings and guest stays be coordinated?

☐ Who is responsible for cleaning and presentation before inspections?

☐ What is the agreed limit on forward booking dates?

☐ How will existing reservations be handled as the sale progresses?

☐ Has the solicitor reviewed relevant contract and settlement arrangements?

☐ Have approvals, insurance and tax implications been considered?

At 95 Westminster Avenue, Golden Beach, holiday letting is generating income while the home is on the market. Read the Golden Beach owner story to explore the circumstances.

Talk through your property with us

Contact Fulton and Co Property to discuss your home, your plans and whether holiday letting could suit your circumstances.