Are B&b's The Next Harbinger Of Economic Doom?

[RufflesTheGuineaPig]

Indeed. What's the score with commercial b&b's, can they just be used as residential, i'm thinking they'd need a change of use, but is that just apply for a bit of paper pay a few hundred for the priviledge sort of thing.?

I was thinking conversion to HMO.

Lot's of double rooms, mostly en-suite, with some other shared facilities.

If a B&B charges £30 a night, and averages 20 nights a month, income is £600 per room.

You could rent them out under HMO for £300 a month but with ZERO running costs. Say 10 room at £300 a month, £3000pcm. £36000pa.

[geezer466]

Indeed. What's the score with commercial b&b's, can they just be used as residential, i'm thinking they'd need a change of use, but is that just apply for a bit of paper pay a few hundred for the priviledge sort of thing.?

Generally you can get a change of use back to residential particularly if that was the properties primary use before it became a B&B. There are exclusions though.

Some holiday resorts designate some street's as being in the holiday area, this will be areas close to attractions such as piers or theme parks where the predominant use is for holiday accommodation. Such places probably cannot be converted back.

Also as a significant part of the slumlord problems come from low quality HMO's which were previously b&b's most if not all councils will not grant HMO licenses unless some pretty significant alterations are made. One is the availability of floor space per tenant, proper all construction ect.

[Jolly Roger]

You could rent them out under HMO for £300 a month but with ZERO running costs. Say 10 room at £300 a month, £3000pcm. £36000pa.

Ten HMO tenants? Sounds like a hassle-free passive income. Where do I sign?

[motch]

Generally you can get a change of use back to residential particularly if that was the properties primary use before it became a B&B. There are exclusions though.

Some holiday resorts designate some street's as being in the holiday area, this will be areas close to attractions such as piers or theme parks where the predominant use is for holiday accommodation. Such places probably cannot be converted back.

Also as a significant part of the slumlord problems come from low quality HMO's which were previously b&b's most if not all councils will not grant HMO licenses unless some pretty significant alterations are made. One is the availability of floor space per tenant, proper all construction ect.

My idea was to look at a large b&b and returning it to residential, but not HMO, area would be classed as holiday area, Great Yarmouth, near Pier and beach. Would be used by me and partner, with possibly renting out to 1 or 2 lodgers. Price under £180k but with LOADS of living space.

[Sellotape]

I would hazzard a guess and say - Great Yarmouth?

All over Norfolk, but mostly North Norfolk/Broads it seems.

[RufflesTheGuineaPig]

Also as a significant part of the slumlord problems come from low quality HMO's which were previously b&b's most if not all councils will not grant HMO licenses unless some pretty significant alterations are made. One is the availability of floor space per tenant, proper all construction ect.

Ten HMO tenants? Sounds like a hassle-free passive income. Where do I sign?

If it was a 10 room B&B, you could probably get 5 flats out of it easily.

Also HMO should be relatively easy to get in many of the old B&Bs if the rooms will be big and will have their own en-suite.

You'll probably already meet all the fire regs from when it was a B&B.

I expect many B&Bs, especially if they have parking, will be worth more as development land.

[Theberley]

As a Bed and breakfast owner - there are 3 reasons bb's are up for sale

(1) people took on the business - and it is a business if you want to make any money out of it - without much idea of what was involved - I have local people here who are desparate to sell but can't due to the economy who have realised this isn't the industry for them.

(2) - inability to pay their mortgage during the downturn

(3) retirement - or illness

Trouble is the image of the industry of staying in someone's home and full of doilies! - take a look at any of the bed and breakfasts in Harrogate and in most cases they out rank hotels on tripadviser! no 27 harrogate even has in one room your own in room sauna!

The advantage of a Bed and Breakfast or Guest Accommodation is quiet if you are working as most won't take stag and hen parties or large groups who spend all night drunkenly running up and down the corridors! Every BB, Guest Accommodation and Guest House I know has free wi-fi, breakfast included, high quality toiletries, 24 hour access - and hosts who are on site whenever you need anything.

I would also point out that BB's who appear in 4 in a bed choose to be on it, are filmed over 3 days and have absolutely no say over editorial content. The vast majority of BB owners I know would never consider going on that program for fear of being edited to look foolish.

The days of owners stating you have to be back by a certain time, shared bathrooms, and limited breakfasts are long gone.

[motch]

The days of owners stating you have to be back by a certain time, shared bathrooms, and limited breakfasts are long gone.

i'm thinking, Only Fools and Horses, the lads trip to margate, about 20 years ago, love it!