The Choices We Make
This Estate only contains a handful of rural houses and cottages, and we rarely have one vacant. In the next few months a pretty two bed cottage will be coming empty, and we have been debating how best to relet it.
There is a trend to turn such properties into holiday lets; our neighbours, The National Trust on the Calke Abbey Estate, have done this with every property which comes empty. They take a deal more managing but produce a greater income. Andrew and Caroline have built a holiday cottage here at Staunton as a diversification from their farming enterprise, and it is immensely popular. It is set in the woodland above the Hall and sleeps six.
Then there is the ‘executive’ market, letting to high income business people, often seconded to the area on one or two year contracts. They demand a high ‘spec’, but are prepared to pay a high rent.
Finally there is the ‘traditional’ market, people for whom work or family ties make this particular area the most suitable. They are unlikely to be able to afford the highest rents, but will probably stay longer. They are also more likely to become part of the local community, contributing to local events and organisations. Having weighed it back and forth this is the route we’ve decided to follow, so it will be ‘word of mouth’ and local advertising in due course.