The owners of this Yorkshire B&B for sale reveal the pleasure and profit that having rooms to let can bring

After moving to Slaithwaite in 2009, she spotted a gap in the market for visitor accommodation. The now fashionable village was becoming increasingly popular and vibrant thanks to an influx of young people and professionals looking for somewhere more rural with good rail and road links to Manchester and Leeds.

Amenities sprung up but those visiting friends and relatives and others exploring the area struggled to find anywhere to stay and so when the For Sale sign went up on Spinning Mill House in Slaithwaite in 2013, Jane could see its potential.

She says: “There wasn’t a registered B&B in the village at that time and I could see that the house would make a great B&B, plus it also had a self-contained flat, which I knew would appeal to guests.”

Fortunately, her husband Michael agreed and they got the keys to the door to the 2,500 square feet house set over four floors in 2013. It has five bedrooms, two reception rooms, a kitchen, three bathrooms, a self-contained apartment at the rear and a courtyard garden plus parking.

Dating back to 1876, Spinning Mill House needed a lot of work but after a five month renovation, it was transformed into a beautiful home and is now a successful bed and breakfast establishment.

Permission to run the home as a B&B had to be gained from the local authority and smoke alarms installed along with emergency lighting and fire blankets.

“Some people thought we were bats for doing it and didn’t think there would be many bookings but it has worked perfectly for us,” says Jane. “We have met some really interesting people from and 97 per cent of bookings come from people visiting family and friends or on business in the Colne Valley.”

Guests love the original period features and Jane’s decor, which includes William Morris wallpaper and some very impressive curtains in Nina Campbell fabric bought for £250, which was snip as they originally cost £5,500.

The kitchen has mod cons and a bespoke ceiling hung pan rack by local firm Steel Dreams as Jane is a keen baker and cook. Catering for all diets at breakfast, including coeliac and vegan, has been a winner when it comes to attracting guests, along with the room rates, which are from £60 for a single room and £90 for a double room.

The self-catering apartment with kitchen, living room, bedroom and bathroom is from £70 per night for a single person and Jane says: “We get a lot of repeat business and some lovely comments on our Facebook page and Instagram account.”

She and Mike are now selling their home to downsize and retire and would like the property to remain as a B&B, though they accept it would also be a great family home. It is on the market for £550,000 with Ryder Dutton.

“B&B doesn’t suit everyone but we have loved it and it has given us a good income,” says Jane. “We have our own website and the self-contained apartment alone yielded £9,000 between January and June with very little effort as we were winding down and with the B&B that gave us a £25,000 annual profit, though there is potential to earn more.”

Jane’s recipe for success for anyone thinking of starting or buying a B&B include having attention to detail, sourcing local products and food where possible and being flexible

Having a good easy to navigate website with a facility to book and pay online is helpful as you avoid fees from using other websites if guests book direct with you. Great photography by a professional is also a must as is good wi-fi.

Attractive decor, tea and coffee making facilities and ensuring everything is spick and span and, by no means least, comfortable beds with good quality mattresses and bed linen are vital.

If you have a mortgage, you must inform your lender that you plan to run a B&B and you must tell your buildings and contents insurer so you are covered in the event of claim.

You will also need a fire risk assessment and heed what it says, which is likely to include installing smoke alarms and fire extinguishers/fire blankets.

As for tax, B&B is classed as a business but if you live in the property and have accommodation for six people or less, you should be excluded from paying business rates but you must pay income tax on the money you make, though you can claim expenses including a portion of your utility bills, water rates, insurance costs, repairs and marketing/advertising fees.

The amount of income tax on B&B earnings in a property that is your main residence can also be cut by the government’s Rent a Room scheme. The annual Rent-a-Room limit is £7,500, which means you can earn up to this amount before paying tax.

*For details of the sale of Spinning Mill House contact Ryder Dutton, tel:01484 506408.