What are the benefits of farm diversification for holiday letting?

With now being the perfect time to invest in a holiday let, farm diversification is becoming increasingly popular. A great deal of farms have old buildings, such as barns and cowsheds, that are unused and unsightly, or even just spare land that people want to make use of. Optimising these by turning them into holiday rental properties breathes a new, profitable use into these existing assets.

The major plus point of creating holiday lets via farm diversification is the income that it can generate. Sykes can be there to advise you every step of the way, even before your properties have been built, which will help you decide whether this is the right avenue for you.

Things to consider before diversifying your farm for holiday lets

Are you able to run a holiday let business alongside your agricultural commitments?

As you are probably aware, holiday letting can take a lot of time and effort. Have you sat down to consider how much ongoing work there will be with running a holiday let and whether this is practical with the requirements that your farm already has?

If it is beginning to seem like more work than you can keep up with, this is where holiday letting agents come in. Agencies such as ourselves can take a lot of this weight off your shoulders with our Fully Managed Service, taking care of changeovers, maintenance, cleaning without you having to lift a finger.

Is it worth the investment?

Before rushing into anything, take time to consider how much it will cost to diversify your farm compared to how much income a holiday let would likely bring in. This will help you decide whether farm diversification is worth it or not.

Our Holiday Let Income Calculator will give an idea of how much you can earn from your investment.

There are various costs that must be taken into account ahead of farm diversification, from planning permission to different building costs, however creating a successful holiday let can make it all worth it.

Speak to the experts

Speaking to professionals within the various relevant fields will give you a better idea of whether or not holiday letting is the avenue for you, and what you will need to do if you do decide to diversify your farm for holiday letting.

Talking with insurers will make you aware of potential risks and the type of cover required, while a conversation with letting agents such as ourselves will help you decide if holiday letting is the right business venture for you by discussing potential income projections and what options you have going forward.

What is the best type of farm diversified holiday let?

Holidaymakers are forever looking for something different. Offering guests a unique and inviting property to stay in among a wonderfully rural environment like a farm can drive enormous bookings, regardless of where you’re based.

Converting existing barns, stables and cowsheds means that you’ve already got a sturdy and attractive structure to work with, requiring much less building work as you’re not starting from scratch. The traditional and rustic style of these properties proves popular with guests, as they offer a cosy getaway in a rural setting. Combining original brickwork and wooden beams with modern hints is a look that many successful holiday lets opt for.

Log cabins and lodges are another great way to create a rustic escape without breaking the bank. As they are often made of wood, they aren’t too expensive or difficult to build, and offer the real connection with nature that many holidaymakers look for.

The glamping trend has soared in recent years, and quirky properties such as yurts and shepherd’s huts are as popular as ever. As they are fairly simple and cheap to build, you can spare some of your budget to add some high-quality touches such as a hot tub, top-of-the-range cooker or a luxury woodburner.