Can I rent out my holiday lodge?
When you are not using your lodge as a personal holiday home, you have the option to rent it out, giving you an extra source of income. Using your lodge for multiple purposes can be highly beneficial, dependent on what you want to use your lodge for and how often you will use it.
Is a park right for me & how do I get the best value for money?
There are key points to consider when choosing the perfect lodge for you including annual site fees and location benefits. If it’s an investment in your lifestyle that you’re looking for, a leisure lodge is for you. Take time to talk to site owner and gain an understanding of the local area. Ensure that your lodge has a variety of facilities for a holiday environment. Romansleigh Park features facilities such as a club bar, games room and children’s play area.
What is the best location for a lodge?
Choosing the location of your lodge is of upmost importance if you’re looking for that extra profit. Self-catering accommodation in areas such as North Devon is in high demand so there is lots of potential for income.It’s also important to consider the travel distance between your home and holiday lodge. Most leisure lodge owners live a maximum of 2.5 hours from home.
When can I use my holiday home?
You need to ensure you have checked the months of the year that the park is open for use. Romansleigh Park is open 12 months a year. If you are renting out your lodge, half terms are the perfect time to do so. Many people are opting to stay in the UK for a retreat as holidays have become increasingly expensive during these times of the year.
What influences the cost of a holiday home?
Holiday homes vary around the country with location being a key influencing factor for costs. The range of facilities offered by a park also influence the price of a lodge such as entertainment rooms, pools and useful holiday amenities.
What are the main costs?
You will need to consider annual site fees and maintenance charges. It is advised that you consult a financial adviser to clarify what your goals are and any limitations to your investment.
For running costs, insurance can typically be £300-400 a year, LPG gas, electric and water are all metered and will depend upon your use, you may wish to purchase a TV licence.
Can I sell my lodge investment?
Of course, you have a range of options. You can sell privately to someone you know, via an internet lodge selling service, an estate agent or to someone else on the park. Please note that standard policy for leisure parks will be to obtain 10% of the resale price. If you cannot find someone to purchase your lodge, or you need a quick sale, we may also be able to purchase your lodge back from you. Whatever the case, we’ll help you find a solution that’s right for you.
How long do lodges last?
Like any ownable asset, the lifespan of a lodge depends largely upon its treatment and maintenance. Each lodge will vary in finish, however most are typically of timber frame construction. The manufacturer often provides warranties, up to 40 years for the roofing system and 10 years for the external clad. Most aspects of a lodge can be replaced or maintained as if it were a bricks and mortar property.