Most of you will already be aware of the changes coming into play on 1st April 2023.
The current rules for Self catering properties is that they must be available for rent for commercial letting for 140 days or more in the 12 Months prior to assessment. In those 140 days it must have been let out on a commercial basis for at least 70 days. This doesn’t include letting to friends & family, they have to be paying guests.
The new rules from 1st April 2023 changes this to the property must be available for 252 weeks in a 12 month period and actually let for 182 days on a commercial basis.
This will be an issue to certain properties that have a short season. Therefore you need to make the absolute best efforts to keep you rental nights as high as possible.
You need to look at your own property and see what you can do to increase your bookings.
What reason do people have to come to you area?
What’s your cancellation policy?
Are you photographs up to scratch, do they do the property justice?
Do you allow pets?
Have you considered a Hot Tub? You won’t make money on this purchase but it could help increase you bookings and extend your season
For more information you can read further here on the Welsh Government Website https://businesswales.gov.wales/non-domestic-rates-self-catering-properties-wales