At Friday Flats, you can choose from two letting models: Independent or Premium.
In the Independent model, you are the host. We take a 3% commission off the daily price you yourself set. From a taxation and regulation perspective, you are the landlord, with full responsibility for income or capital gains taxes as well as possible VAT. Taxation policies vary by country and can change over time. The Independent model is a good choice for anyone with the opportunity and interest in providing accommodation.
In the Premium model, we take care of the day-to-day details of being a landlord (pricing, marketing, key management, customer service and cleaning), so that you can concentrate on what’s important to you. We charge 30% of the accommodation return (guest fee after expenses). We cannot guarantee a specific level of profit, as it is dependent on the property itself, its location and the active season.
We are also interested in results, so we will do everything we can to drive sales and a profit. And if your property does not turn a profit, there will be no charge. From a taxation and regulatory perspective, we are renting the property from you and paying you 70% of the accommodation return as rent. We charge VAT to the customer, and all you need to do is report your profit to the tax man.
In short: you can get a profit out of your property with little effort.