Lifestyle buyers advised to enter rental market

Holiday home owners who are feeling the pinch in the current financial climate have been encouraged to let out their properties.

According to Shelter Offshore, the income generated from rental yields could help cover the cost of looking after a foreign residence.

Therefore, it has suggested that people who feeling the effects of the credit crunch consider easing the financial burden by opening their doors to tenants.

The online portal said the holiday market could be particularly lucrative, as rental accommodation is still in high demand.

Shelter Offshore commented: "Renting out your property can be a practical way to reap some financial rewards for having a lovely place in the sun."

The website added that using a property to generate money would effectively mean it is paying for itself.

This comes after DirectHolidayBookings.co.uk said a growing number of holiday home owners are already turning to the rental market.

Managing director Andrew Gibson said these people are using the rental yields to supplement their main income.

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