How to get the most from holiday rental property revealed
Wednesday, 14 Nov 2007 10:18
How to get the most from holiday rental property revealed
An increasing number of Brits are purchasing overseas properties, either as a holiday home or retirement destination.
A large number also buy property as an investment, letting out property in desirable areas to holidaymakers.
However, some investors could be missing out on the maximum returns for their investment, either by mispricing their property or advertising incorrectly.
Here Holiday-Rentals.co.uk offers readers some advice on action they can take to maximise the profit from their property:
Furnish the property ready for rental: Simple decoration with lockable areas which meets health and safety requirements are recommended, with the option of luxury items (hot-tubs, log fires, air-con et al) can also attract higher prices.
Advertising is key: Letting agents are the established method of showcasing property but the internet can save costs and bring property to a wider audience – allowing investors to display information such as photos, text, maps, rates and an availability calendar.
Ensure the price is correct: Research comparable properties and have an idea of a target audience before setting a price, with discounts for off-peak travellers.
Have contracts prepared: A professional and efficient service will give a strong impression, generating repeat custom and avoid problems.
Respond promptly to enquires: Ensuring auto-replies are set-up, preparing standard response e-mails for enquiries and updating an availability calendar regularly can all improve service.
Flexibility is key: Allow guests to vary the length of their stay, even out of season and be adaptable when it comes to check-in times and changeover days.
Have a local contact: A local contact sets holidaymakers minds at ease, 'meeting-and-greeting' clients and solving problems quickly.
Provide feedback: Leaving a guestbook and encouraging feedback can help to sell the property in the future.