I’m not sure if it really is applicable, to sell a Holiday House as a business? We’re trying to get a higher price in a very depreciated market – the price is a must in order for it to breakeven. The house is getting a 9.6% GRY based on the applicable sale price – averaged over the last two years. There have been a huge amount of mortgagee sales in the area forcing lower valuations from banks, not to mention a bank enforced zone LVR 70/30 ratio just to throw a spanner in the works. Any suggestions would be awesome. Tamara :)
A bit of a tall ask unless you have the property operating as a business ie. you need to be selling more than the house but also the business entity (this takes out all of the comparable house sales as it’s listed in the business sales with solid turnover, management, advertising, rent, maintenance, goodwill etc as part of the business.
If it is purely an air b&b or stayz proposition, then the barriers to entry are low and the house next door is 50% cheaper.
Hi Matt, yes it is a tall ask, but to achieve results in this market one must think outside the square. It is run through a business structure of sorts, more like trustee company actually. Good points, thanks. Especially since I manage it plus website. Goodwill is the space I need to check for validation. Thanks.
You must be logged in to reply to this topic. If you don't have an account, you can register here.
