Buy to Let - too good to be true?

Discussion in 'Motorhome Help for the Beginner' started by realworld, May 20, 2009.

  1. realworld

    realworld Deleted User

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    +0
    Hi all

    I'm looking into renting out our existing, 1994 Swift 610 Royale, fully paid for MH via Motorholmes. I know demand will be lower for this than for a newer model, but it will be prices accordingly. If that works out, maybe I'll also lease a new model in the hope of generating a bit of income.

    So - given the obvious drawbacks of:
    - Letting someone else use our pride and joy (I'm over that already!)
    - Limitations on availability for our own use (Just needs a bit of planning)

    What else should I be considering? Does Motorholmes have a good reputation?
    It all seems a bit 'too good to be true' at the moment - being able to claim costs of the MH against tax while generating an income - there must be more of a catch, musn't there?

    Please let me know!
     
  2. hilldweller

    hilldweller Funster Life Member

    Joined:
    Dec 5, 2008
    Messages:
    28,873
    Location:
    Macclesfield
    Ratings:
    +35,120
    Well you said it.

    It only takes one bad hirer with a duff CC and it all ends on tears.
     
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