With changes in UK tax policy, smart property investors are shifting to the vacation rental market to avoid the hit of a higher tax bill. The new law taxes long-term rental landlords on revenue, while short-term rentals—categorized as a business—are taxed on profit.
Originally from Australia, Matt Elder relocated to the UK to be closer to his wife’s family. Since the move four years ago, Matt has been a real estate investor focused on long-term rentals. Inspired by changing tax regulations, he recently expanded to the short-term rental market. With one successful vacation rental property under his belt, Matt is in the process of purchasing another with plans to renovate in the new year.
Today Matt shares the details of his Airbnb property, explaining why he chose the location and what short-term rental-specific considerations he made in the renovation process. He discusses why he chose to cater to families as his niche and how a channel manager facilitates his ability to list on multiple platforms. Listen in for Matt’s best advice around remote management and how to work with your competitors so that everybody wins!
The changing regulations, taxes in the UK
Matt’s Airbnb property
Matt’s vacation rental niche
How Matt handles remote management
Airbnb vs. Booking.com
The benefits of using a channel manager
How Matt found his cleaners
Email [email protected]
Email: [email protected]
This episode is sponsored by Hostfully.com where you can create a custom digital guidebook for your guests!