Holiday let in a flat you already own

Holidaymakers, couples on city breaks, families, and visitors for weddings, events or business trips.

A nightly rate that changes with the season and local events, sometimes plus a cleaning fee. Your income depends on how many nights you book and the rate you charge.

• Quick, friendly communication with guests
• Organising cleaners and changeovers
• Writing a clear listing and taking decent photos
• Basic budgeting and record keeping

• Most short lets in England do not need a licence, but rules differ by area: planning permission or change of use may be needed in some places, and London limits short lets to 90 nights a year without it, so check with your council
• Scotland requires a short-term let licence before you take bookings, and Wales has its own registration and licensing rules, so check the rules for where you are
• Standard home or buy-to-let insurance and mortgages often exclude holiday letting, so check with your lender and insurer
• Gas safety, electrical safety, smoke and carbon monoxide alarms and fire safety rules apply, so check what you need
• Check how income tax, council tax or business rates and VAT apply to your letting, and ask an accountant
• Income can be seasonal, so plan for quiet months

Estimates suggest startup costs are typically around £3,000 to £15,000, depending on how much furnishing, linen and photography the flat needs. Costs for insurance and safety checks should be checked separately.

Estimated monthly revenue is typically around £800 to £4,000, depending on location, how often the flat is booked and your nightly rate. Income can be seasonal, so plan for quiet months.

Check with your council whether planning permission, change of use or a licence applies, as rules differ across England, Scotland and Wales. Also check your mortgage and insurance, gas, electrical and fire safety requirements, and tax with an accountant.