Investors should let out holiday homes Published: 04/08/2008

Holiday home owners could stand to earn between £3,000 and £12,000 per year in rental income, according to research.

Currently, there are around two million properties owned as second homes in the UK and owners fail to realise the lucrative financial benefits they could gain from people looking for homes for rent over the holidays.

A study by holidaylettings.co.uk reveals that over 600 holidaymakers spend half as much as they do on self-catering holidays than on hotels.

But they then spend more than double on eating out, local attractions and grocery shopping than those who stay in hotels.

Second home owners stand to make significant amounts of money in rental income which can go towards paying their mortgages.

But currently, just one in five second home owners rent their properties out to holidaymakers.

Holiday homes in areas such as Newquay, Bude and Padstow in Cornwall get higher than average rental incomes.

Other popular areas include the Lake District, Croyde and Dartmouth in Devon.

Ross Elder, managing director of holidaylettings.co.uk says: "There is a symbiotic relationship between holiday home ownership and tourism and this needs to be harnessed and encouraged by the government, home owners, tourist boards and local economies. Letting out your holiday home is one of the simplest solutions for raising additional income as well as contributing to the local economy of your chosen location, even in your absence."

Search now for properties to rent  © Copyright.