How to start letting your holiday home

How to start letting your holiday home

Learn how to let your holiday home successfully

Many holiday home owners want to make a bit of money back from their property in order to help pay for some of its running costs or boost a pension back home. In order to be successful at the holiday lets business, there are three areas which you need to consider. These are your preparation, your marketing and your management.

Preparing your home to be let

When preparing your house you need to think about the market that you would like to attract, whether that is couples, singles or families and how long the season runs for in the area in which you have bought. Create a spread sheet and list out all the costs involved in running the property. Also research the cost of the insurance that you will need as well as any taxes that you may become liable for. Then total up what you think you may be able to achieve as a rental income. With these two sheets completed, you will have built up a fair idea as to the financial implications of letting your property.

On a more personal level, look around your home through the eyes of a holidaymaker. Is there anything else you can add, either from a furnishing perspective or a little added extra service you can supply, for example, a small welcome hamper that will give you the edge over your competitors.

Become a marketing expert

When you start to market your holiday let, always bear in mind the financial work that you have covered in your preparation and ensure that rental prices will cover all your overheads (remember to include utility costs and cleaning).

If you are advertising online, make sure you have taken some beautiful pictures of the property. Try to set the scene using props of the sort of holiday idyll you are selling. An easy example is if your home has a pool, arrange the sun beds and drape some towels. Also make sure that the information you provide is up-to-date and list suggestions for day trips in the local area. Make sure you tell all your family and friends too, as referrals are a great way to gain additional bookings.

Managing your home as a holiday let

Remember when dealing with your holiday lets, you need to be business-like. Ensure you are friendly and professional when dealing with bookings and answer any queries quickly. Always provide a contract and an inventory and make sure that deposits/balances have cleared your bank before providing keys.

In the changeover period, have the property thoroughly cleaned and ask the cleaner to check that the welcome pack/information guide is complete. Lastly, keep all your marketing details up to date and fill in the availability calendar so that prospective clients know when the property is available.

Most importantly make sure that just for a few weeks every year you leave the property empty so that you and your family get to spend some quality time enjoying your second home.

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