Self-Catering holiday cottage or flat

Families, couples and groups on holiday or weekend breaks, plus some contractors and visitors for events.

Nightly or weekly rates, with higher prices in peak seasons and school holidays. Costs include cleaning, linen, utilities, platform fees and upkeep.

• Organising bookings and changeovers
• Pricing and basic budgeting
• Customer service and quick replies
• Basic DIY or a reliable handyman contact

• Buying or leasing a property is a big commitment, and the start-up figure here assumes you already have access to the property
• Holiday let mortgage and specialist holiday let insurance, as standard policies may not cover guests
• Gas safety, electrical safety, fire safety and alarm requirements for let property
• Local rules on short-term lets, which may include registration or licensing, especially in Scotland, so check your council
• Tax treatment of holiday lets has changed in recent years, so check current HMRC guidance or ask an accountant
• Seasonal demand and empty weeks

Estimates suggest startup costs are typically around £8,000 to £30,000, depending on furnishing, safety work and set-up. This assumes you already have access to the property, as buying or leasing one is a big extra commitment.

Monthly revenue is typically estimated at around £1,500 to £5,000, depending on location, pricing and season. Expect some empty weeks, and check current HMRC guidance or ask an accountant about how holiday lets are taxed.

Check holiday let mortgage and insurance needs, as standard policies may not cover guests. Also check gas, electrical and fire safety requirements, and local short-term let rules, which may include registration or licensing, especially in Scotland.