People in the UK are opting for a staycation instead of an international summer holiday this year. 2021 is likely to follow the same pattern of 2020 as holidaymakers decide to stay in the UK for their annual holiday.

In fact, a whopping 71% of British holidaymakers intend to take a UK holiday in 2021. Most of these holidays will be in self-catered accommodation as well. Chris Clifford from the letting company, Savills Cornwall, said: “Prime property sales in Cornwall and the wider South West intensified over summer 2020 with new buyer registrations up 153% compared to the previous year, as people activated decisions made during lockdown. We expect to see this trend carry through 2021, and with the value of coastal property rising by 3.9% year-on-year, property investment continues to prove to be a favourable asset”. 

The holiday rental market is the perfect opportunity for anyone looking to invest in a new business adventure this year. There are numerous benefits to investing in holiday lets. Of course, investing in a holiday let means you can also enjoy the property and local area. Furnished holiday lets, which are rented out for more than 105 days per year, are also subject to allowances and tax relief. You can even say goodbye to council tax on your rental properties and register for business rates instead. It’s also worth checking to see if your property qualifies for Small Business Rates Relief – you might be eligible for 100% exemption. 

There are several popular areas for holiday lets in the UK. Devon and Cornwall are favourites among holidaymakers looking for a coastal staycation – maybe with a bit of surfing thrown in. The Cotswolds is perfect for an idyllic cottage stay, and Yorkshire is the best location for budding writers. You can visit the Bronte’s home in Haworth and stroll through the Yorkshire moors looking for Heathcliff. The Northumberland Coast is a beautiful destination, full of breath-taking beaches and countryside towns. Choose a location that you love for your holiday let – after all, it’s your staycation home too!

Furthermore, it’s essential for rental owners to understand the letting industry and how to maximise profits. For the most part, holiday properties are all about the location and the décor. You need to choose a property in the perfect area, with a few pubs, shops and viewpoints nearby for tourists. You also need to select a property that can cater to multiple guests and their needs.

Opt for a neutral clean colour palette that can be depersonalised and appeal to a broader market. Ensure the furnishings are practical and durable so that even with wear and tear, they look in good condition. If you are fully renovating the property, invest in a well-fitted open plan kitchen that will appeal to families.

Avoid light coloured carpets and bed linen as stains will show on them. You should also opt for good-quality, durable kitchen appliances and crockery. You don’t need to spend heaps on these items; just make sure they look smart and work. 

Use your local area as inspiration when applying the finishing touches. You could use local reclaimed wood for furnishings and local artists for the artwork in your property. Try to include multi-functional furniture – like single mattresses that can be zipped together or a sofa bed. 

Invest in a rental property this year, and remember to enjoy your own staycation as well.