Static Caravans for Rent – 8 Things to Know Before Renting Static Caravans
Renting static caravans are the best options to opt to make money without putting much efforts. The difference between the rich and the poor is that the rich make their money their work whereas the poor work for money.
Investing in property can be a great way to make that money work.
Buying a Static Caravan is a dream second home for many people. But it can prove to be a great investment as well. You can make it a cash cow that pays for itself when you are not occupying it for vacationing with your friends and family.
You could use it as a holiday getaway when you feel like it. Or even rent it out to other people who want an affordable holiday getaway home, earning a bit of cash in the process.
Initially, the idea of renting out your static caravan can be an overwhelming one. Without proper guidance, it may feel like you are allowing strangers in your home and are afraid of what they can do to it.
In this article, we would help you with the process of how you can try static caravans for renting purpose. We discuss the top things that you must be aware of before renting out your static caravan.
1. Check for Static Caravans for Renting’s Permission
Every place has its own set of rules. Although most holiday parks allow caravan owners to rent out their properties, some do not allow this. These holiday parks for sale have strict guidelines on who can be a member and who can come and stay.
The rules for letting out a property may be complicated at some locations. You may need to go and contact the site operators yourselves in person, who in turn may charge you a service fee for rendering the services to your tenants.
So, before you spend any time, effort, and money preparing and advertising your static caravan in order to put your static caravans for rent, make sure that you are fully aware of the applicable rules involving renting out your static caravan.
2. Count Your Certificates before going for Static Caravans for Rent
Before hiring out your caravan, as a landlord, you are required by law to make sure that you have all the necessary certificates in place. These certificates are needed to be on the right side of the law.
Such certificates for renting out your static caravans may Include a:
- Gas Safety Certificate – Make sure that the gas applications installed in the caravan are up to date with the safety requirements. You must ensure their safety check periodically and on due dates. Always keep a copy of the gas safety inspection certificate in the caravan and with yourself to present it to park operators, tenants, and even legal authorities asking for it.
- Electrical Safety – Many static caravans have been reduced to ashes due to poor wiring, short circuit, open wires, faulty appliances, and many other reasons. A safe, proper, and fixed electrical installation is necessary for the safety of the tenants, and their and your property. This certificate proves that the wiring within the static caravan is safe. You may also need to get a P.A.T. (Portable Appliance Test) for appliances that are older than one year.
- Carbon Monoxide (CO) Safety – This is a lethal gas that is colorless, odorless, and tasteless. Within closed spaces, carbon monoxide is may form due to any reason. Inhaling CO in even small quantities can be extremely dangerous. Prolonged exposure to high doses of this gas has proved to be fatal in many cases. That is why a working CO detector is a must in all static caravans.
- General Safety Advice – Place clear instructions on how to use a fire extinguisher and how to activate a fire alarm in case of an emergency. Fire safety should include:
- An Easily accessible and up-to-date fire extinguisher.
- A regularly tested fire alarm.,
- The latest copy of the fire risk assessment done by the park operator.
After collecting all the necessary permits and certificates, make sure that you paste a copy of those inside the caravan.
3. Remember that the Rental Income is Taxable
The rental income that you will generate by giving your static caravans for rent is taxable. Therefore, you must declare this income in your tax returns to inform the HMRC. This may be an unwelcome surprise.
The plus side of informing the HMRC is that you can claim most of the costs associated with hiring out caravans as expenses. To know about this in detail you could always visit the HMRC’s page on Furnished Holiday Lettings.
4. Scan the Market Rate before Setting Up Your Rent
A proper leasing strategy is very important to reap the maximum benefits. Every landlord has a value in their mind that she/or he would like to charge as a rental. Mostly this value is not based upon the going rate, but rather what you wish for.
But the market forces do not let you charge a rent of your choice. You may find that after research the going rate for static caravans for renting out is far less than what you would have anticipated.
By browsing through the rental market, you can get an idea about the pricing of the property. Make sure that the price of your caravan is based on the facilities in it, its age, and the condition of your model. Other factors that affect the rental value are location and the desirability of the holiday park.
5. A Good Marketing Strategy
All the safety obligations are useless if no tenant wants to rent your caravan. A good marketing strategy is thus very important if you want to go for static caravans for rent. There is a wide range of paid and free options that you could use to promote your caravan.
Public platforms like Craigslist and Gumtree may charge a fee. But these are reliable and viable options considering the amount of traffic they have on their sites. Utilising these for putting your static caravans for rent may be a good choice.
One of the other ways of promoting your caravan can be through placing ads in the local newspapers or advertising boards.
No matter how important, all the safety parameters are secondary for potential tenants. The first thing that any tenant wants to see, is the scenic environs. Capturing and sharing beautiful pictures of the caravan helps you attract more audiences.
6. Hire an Agent or Become One
If you have time on your hands, and you do not have a problem talking with strangers, you could oversee the leasing process yourselves. But on the other hand, if you are not very extrovert or you are running short on time, then you could always hire an agent for static caravans for rent.
The hiring of an agent is also beneficial as they already have all the information on local rules and park policies. They could also help you with better rental prices by foreseeing the peak season when most other caravans would be fully occupied.
7. Ask for an Upfront Security Deposit
Putting your static caravans for rent may be a ricky thing if you don’t ask for an upfront security deposit so always go for it. Whether the tenants are coming for a short stay or a long time, they may use your caravan and its assets in a very harsh manner. This may cause some serious damage to your property, and you may have to spend time and money to get them repaired. So, asking for a security deposit upfront is always a great option.
8. A Well-Stocked Static Caravan
Well-stocked static caravans for rent can make the stay of your guests hassle-free. But well stocking your caravan does not mean filling it up with useless things.
Some useful stuff that you could provide your- guests with
- Basic groceries
- Nuts and other dry fruits
- Air Conditioner
Always make sure that you are comfortable with the tenant you are allowing to stay in your caravan. There is no need to rush into letting out the caravan and enter into a bad deal, after or during the stay.
For repeat business, you must aim for good feedback. This not makes you feel like the proud owner, but will also open doors to an increased customer base for your business of static caravans for rent.