Tourism residences: How to choose?
Investing in buy-to-let properties, especially in tourism residences, allows you to diversify your income and to build up an asset base, with profitable tax advantages. But the big question is: what investment to choose?
Investment in tourist residences offers you an attractive return (approx. 4%) and the option to spend your holidays in your own or another residence, from one to three weeks per year, at a minimum cost. All of these properties are furnished and provide many services such as household service, laundry, dry cleaning facilities and restaurants.
First of all: The Location
Never forget the golden rule of real estate, which counts especially for tourism residences: as it is the case with all purchases, the location is the main criteria to take into account. Whether it is a seaside resort or a mountain residence, the access to activities and services is essential. A residence located 20 minutes from the nearest beach will be less demanded than another one which is located by the seaside. When we talk about ski stations, we must consider snow conditions. The higher the residences’ altitude, the longer the ski season will be – so a favourable occupation rate goes along with it. Furthermore, do not underestimate the importance of summer activities (swimming pool, spa, hiking…) which are going to increase the property attraction during summer months. Finally, the access by car and by transport must be optimal in order to convince the holidaymakers.
The key is the operator
The choice of the operator is an important criterion as well, because it will be him who assures the sustainability of the investment. The operator has to find the tenants and collect the rents. In addition, he will take in charge the management and the maintenance services. It is therefore important to make a good choice of the manager, in order to guarantee all of these services during the period of the lease. It’s clearly preferable to choose a recognized group who has already proven its competences in the past and is still managing more than 300 residences worldwide.
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