ADVICE - sensible please for property rental

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ADVICE - sensible please for property rental

Postby Trudyw » Wed Apr 02, 2008 8:37 pm

Sorry I,m a Yorkshire Las and I,m willing to be generous but I need advice on been too generous or been too hard

We have a potential rental for July of 4 weeks, they can only go Wed to Wed ( well they booked flights from Gatwick thinking they looked cheap and Sat Manchester flights were only £30 more !!). We try to do booking Sat to Sat so we get more in and make it easier to plan.

This potential guest wants to pay £600 for a normal period we rent for £950. His flights mean we also loss 2 weeks at an additonal £450 where we have 3 very firm enquiries on.

I,m not sure if we will cover an costs doing a 2 bed apartment for £150 per week , bearing in mind they will be cooking all food in more or less, using the air con all the time and using obviously more than the average rental water and electric. . Can experienced renters let me know if this will cover out costs. Not run the air con yet too look at costs, so can anyone guide me on the rough costs if they decide to keep it on most of the time in 3 rooms.

Yes £600 is nice , but not if it covers costs costs and well get us at least £50 towards our ongoing costs I,m not sure.

The gentleman concerned is coming out to buy a large property in the area and wants to use our apartment as a base. Also they will be frequent visits to the nuddy beach.

Please do not jump down my thread , sensible answers and good solid advice.

We have to make a decision soon, so this thread can be closed tomorrow.

Many many thanks for all your advice from seasoned renters

trudy

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Postby theweeton » Wed Apr 02, 2008 8:52 pm

The guy is buying property so it is unlikely he will be giving you any return trade, so why give a discount. People that you are turning away may on the other hand become an annual source of income.
Long booking are sometimes counter productive as you are getting fewer people through the door and the potential for resales is restricted
I would charge the full amount but I may look at income over the same period in previous years and my bank statement before making decisions.
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ADvice

Postby Trudyw » Wed Apr 02, 2008 9:01 pm

Thank you the Weeton,

We have nothing to compare it too on costs etc, we have had lots look at our site and they think are are reasonable anyway.

We are thinking that this guy may spread the word to others at his club who yes may rent , but they will always demand an income.

Sorry may be silly , but we have posters in over 250 locations now as of this week and getting more enquiries.

We do not need to rent cover costs , so not desperate it would be nice thats all. Would give us more money for more flights for us

Thanks again

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Postby dron » Wed Apr 02, 2008 9:10 pm

Hi Trudy

On your site your priced from Sat/Sat, so i would charge him the
full price, if he's not happy tough, somebody else will come along
as your prices are very good.

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HELP

Postby Trudyw » Wed Apr 02, 2008 9:17 pm

Thanks Derek,

Just want to make sure we are doing the right thing. Turning down £600 which we make very little money on or getting nothing.

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Postby SurreySAM » Wed Apr 02, 2008 10:21 pm

Hi,

Our experience is limited to the one apartment that we bought in 2005. Not exactly extensive experience but here are my thoughts based on what we have done:

our two bed apartment with three airconditioning units has been fully occupied for the last two summer seasons. We can't remember exactly how much it has cost in utility bills but we expect to pay about £100 a year for electricity and water.You don't mention your cleaning arrangement, our cleaning bill is about £20 a week.

So close to July, I would have thought that your booking prospects for July are not so good, although much better for the weeks in the school holidays. On this basis I would think four weeks occupancy would be quite good.

That said, he seems to be pushing your generosity to the limit. I would have thought 33% discount reasonable as a last minute deal. If you write off the first broken week as it is likely not to be booked anyway but do include the last broken week which would be in the peak season then the total would be £1200 less 33% so £800. Which seems to me to be a more reasonable figure. If he was agreeable, I would go for that if it were me.

Good luck whatever you do.

cheers

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Postby Trudyw » Fri Apr 04, 2008 6:12 pm

Many thanks for all the posts and PMs.

My prospective said either £500 or not at all, before we could reply he has found Full board for £800 for 4 weeks for 2 !!!!!!!!. God help them is all I say. Glad we did not accept him, if not everyone would want huge discounts via that source and it could ruin the booking we already have.

Thanks again

Trudy

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Re: Advice

Postby chrisbelfast » Fri Apr 04, 2008 6:17 pm

Trudyw wrote:Many thanks for all the posts and PMs.

My prospective said either £500 or not at all, before we could reply he has found Full board for £800 for 4 weeks for 2 !!!!!!!!. God help them is all I say. Glad we did not accept him, if not everyone would want huge discounts via that source and it could ruin the booking we already have.

Thanks again

Trudy


Hi Trudy,
Sounds like your better shot of this guy, £500 for your property for that lenght of time is having a laugh :lol: .......imagine what problem he could cause being in the place, maybe complaining about this and that, sounds the type! .....it would be a long winded £500 minus expensives, I'd be glad to be shot of him :D

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Postby theweeton » Fri Apr 04, 2008 6:20 pm

If all he was interested in was price you are better off without him, it is my belief you get what you pay for.

I hope he takes a different approach with his builders else we will have some one else complaining that his renovations are rubbish and his builders are ripping him off. :wink:

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Postby starby » Fri Apr 04, 2008 6:28 pm

Hi Trudy

The only thing that I will add is that its sometimes better to be more flexible about the days. If most of your bookings will come from around the Manchester area and you aren't advertising anywhere else then not such a problem. Having looked at the flight schedule into Bourgas this year, there are far fewer flights from the north than previously.
We have clients that are prepared to take people with very little notice because there is no shortage of apartments to rent. They are also prepared to let out for 2 or 3 days at a time if they are not let. This is really useful for people that are looking around the area or like my family, who like to spend a few days in SB.


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