Jun 22 2010
Renting Out Your Holiday Home Successfully
With the housing market always changing and the country embracing new leadership, it can be a tough time for renting out your holiday home. Its not just people who are new to the holiday home market that can find it difficult either, it can be extremely difficult for those with years of experience in the industry.
So to aid those struggling with renting out their holiday home, here are some top tips
It may seem very obvious, but location is still the single most important factor; if youre buying to rent then make sure you properly consider the rental market your property has before buying. Decide if youre looking for an all round let or a seasonal one (places like seaside properties tend to be seasonal).
You should also consider the local public transport links, facilities available to the general public and proximity to any local points of interest, shops,. etc.
But what if youve already purchased your property? Here are the rest of the tips with that in mind.
Propety Furnishings
If you spend money on your property you need to always ensure its spent as wisely as possible. Choose furniture that is reasonably neutral in taste and colour, dont go for anything loud or brash that could put off potential renters. You also want to look for heard-wearing, tough furniture that wont need replacing too regularly. You should be aiming for furnishings (including electrical items) that are mid-ranged in terms of quality and price; anything too cheap and youll be constantly replacing them, too expensive and any damage or breakages during the rental period could end up costing you a fortune. It should also be noted that if you do purchase lots of expensive furnishings, this may have an impact on your holiday home insurance policy.
Price to Rent
You should try and get your pricing as spot on as possible, too high and youll end up with empty weeks, too low and youll lose money – have a look what other properties in the area rent for and use this to gauge the general area you want to be aiming for. Have a look at similar properties and talk to local agents; dont be afraid to change your pricing and experiment with what works if youre having difficulties.
Promotion
This is arguable one of the most important factors; you can get everything else spot on but if people dont know about youre property than youre going to find renting it out extremely difficult. To make sure your property is well promoted using digital and physical adverts and free listings, as well as utilising a rental agency to help you find potential guests for your property.
Photography
If youre going to be spending money on promotion then you certainly dont want that money wasted by using poor photographs; make sure they are clear and show the property in a positive light. If you cant take decent quality photographs yourself, hire a professional it may cost more in the short term but will certainly help you create genuine interest in your rental property.
Keep the property clean and tidy!
Another point that may seem obvious but its surprising how many people dont do it; keeping your property clean and tidy can make a huge difference during viewing for potential renters. Keep the house clutter free and minimal, although it may be a good idea to leave books, games and DVDs, etc. should your renters have a few rainy days.
Get Insured
Its extremely important and advisable to make sure you have holiday let insurance to protect yourselves and your guests. Make sure to shop around for your insurance quotes too, they can very dramatically by company and youre much more likely to find an inexpensive insurance for holiday homes if you make the effort to properly look around, getting quotes from numerous different companies.
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