Managing holiday flats for owners

Property owners who want their flat let to holidaymakers without doing the work, and guests who pay nightly rates.

A percentage of each booking, sometimes plus fees for set-up, cleaning or laundry. More flats in the same area make visits and changeovers more efficient.

• Organising several properties and changeovers
• Clear communication with owners and guests
• Pricing and listing know-how

• Written agreements with owners covering fees, repairs, damage and who holds the guests' money
• Public liability insurance, and checking that each owner has suitable holiday let insurance
• Local short-let registration or planning rules, which vary by council and nation
• Handling client money and deposits, so check whether any extra rules apply
• Safety checks such as gas, electrical and fire for each property
• Reliance on cleaners being free on busy changeover days
• Registering for Self Assessment and checking VAT as income grows

Estimates suggest startup costs are typically around £500 to £3,000, depending on your tools, cleaning supplies, insurance and how you market to owners. You can grow by adding one flat at a time in an area you know well.

Estimates put monthly revenue typically around £600 to £3,500, depending on how many flats you manage and your fee arrangements. That is revenue, not profit. Time starts from around 12 hours a week and rises as you add properties.

Check written agreements with owners covering fees, repairs, damage and who holds guests' money, plus any rules on client money and deposits. Also check local short-let rules, safety checks for each property, public liability insurance and each owner's holiday let cover.