– We rent out the cabin primarily for financial reasons, says Thor Holand. He is originally from Steigen in Nordland, but has sold the farm and moved south. In 2015, he finished his cabin in his home municipality, at the far end of the sea on Engeløya. – But it costs money to have a cabin, even if electricity costs in the north are not as high as further south, he says. So for two years, Holand has rented out his cabin. And he’s not the only one. SHARE THE BENEFITS: In addition to being economical, Thor Holand believes it is important to rent out his cabin, so that others who cannot afford a cabin themselves can live the cabin life. Photo: Thor Holand Large increase in available cabins Norway is a nation of cabins. According to Statistics Norway, there are around 450,000 cabins and holiday homes in the country. But now more and more people choose to rent out their cabin or holiday home. Between 2018 and 2022, the number of holiday homes and cabins for rent on Finn.no increased by around 25 per cent. Figures from Finn.no In 2018, Finn.no had 19,707 advertisements for letting holiday homes, the figure for 2022 was 24,837 – an increase of 26 per cent. Finn.no has never had more traffic on holiday homes and cabins. An increase of 3 percent so far this year compared to the same period last year. They see that more people rent out their cabin for a longer period than before. So far this year, they have seen a 17 per cent increase in advertisements for year-round rental of cabins and holiday homes. – Owning a cabin is much more expensive than many might imagine. Due to increases in interest rates and electricity prices, combined with higher prices for goods and services, it is almost twice as expensive to own a cabin today than it was just a few years ago, says Silje Sandmæl, consumer economist at DNB. Among other things, she has calculated the costs per night for owning a cabin. – Based on an average use of the cabin, it quickly costs you NOK 2,000 a night, she says. MANY OPPORTUNITIES: According to Silje Sandmæl from DNB, Norwegians are becoming increasingly creative when it comes to renting out assets to increase their income. Photo: DNB This is how you can earn NOK 10,000 tax-free from renting out You can earn up to NOK 10,000 by renting things out before you have to pay tax. Silje Sandmæl, consumer economist at DNB, says that the easiest way to do that is to take a round at home and see if you have things that you think others might be interested in renting. – Maybe you have a cloud machine, some tools, a good camera, a tent, a car or a boat, kayak or canoe. It could be anything, but I would recommend that you take a tour at home yourself or your parents and see what options you have, says Sandmæl. Want to rent out for a long time For Thor Holand from Steigen, selling the cabin is out of the question. In order to be able to keep it, renting is therefore important. – There is money to be made. We have mostly rented out for short-term rentals. Anything from three to ten days, says Thor Holand. Another person who is looking around for someone who is interested in renting the holiday home is Stene Førsund. He and his partner live in Sandefjord, but this autumn they took over their mother-in-law’s small farm Bø in Vesterålen. – We prefer to see the house in use. The worst thing is that it remains dormant for a long time. Then it can be affected by frost damage, mice and other things, says Førsund. – At the same time, it is demanding and having to maintain a cabin in northern Norway. So renting is a decent source of income so that we break even in any case. Among the many people who want to rent out their cabin or holiday home, Terje Berge, commercial director at Finn reise, sees a particular increase in long-term rentals. HOPE THEY AVOID SALE: Stene Førsund would like to avoid selling the holiday home in Vesterålen. Therefore, he and his roommate hope to rent out the cabin as much as possible. Photo: Stene Førsund – Going to zero in any case So far this year, long-term rentals on Finn.no have increased by a further 17 percent compared to the record year 2022. Although he does not earn as much from renting out his cabin for a year as from short periods, Thor Holand sees clear advantages in long-term rental. – We have made it available for long-term rental because it is comfortable not having to clean and wash every three days. Especially when you are not there yourself. As of now, he has not received any inquiries about long-term rentals. Neither has Stene Førsund. But before he and his roommate took over the mill in Vesterålen, it was rented out for longer periods. – The income per month was very limited, but it goes around in any case. And if you are now considering whether to rent out your home or holiday home, director of Finn reise, Anette Syversen, has a call for you: – Now is a good time to rent. This applies to both cabins and holiday homes, but also properties in the big cities. We are entering a travel season where city breaks become relevant again, especially after Easter. If you have an apartment or a house available in the cities that you want to rent out in the future, that is also an option, she says. IDYLLIC: The white building is the cottage of Stene Førsund and his roommate. Next to it is the Red Law. Photo: Stene Førsund
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Expensive electricity and higher interest rates make it expensive to have a cabin. That is why record numbers want to rent out their holiday home – news Nordland
