With the housing market always changing and the country embracing new leadership, it can be a tough time for renting out your holiday home. It’s not just difficult for those new to the market either; we’ve seen very tough times for novices and the ‘experts’ alike.
So to help with renting out your holiday home, here are some quick tips
It seems obvious, but the most important element in successfully renting out your holiday home is location; so make sure you’re considering the rental marketing before you buy the property. Figure out if you’re looking for a year round property rental or you’re happy just letting in seasonal peaks (seaside rental locations often dip in the winter for example).
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 you’ve already purchased your property? Here are some tips with those people in mind.
Furnishings
Any money you spend on the house, you need to spend very wisely. Choose furnishings that are neutral in tone and colour; try and avoid any loud colours that could turn-off any potential renters. You should try and find hardwearing furniture that won’t require regular maintenance or replacement. Aim for mid-range for furniture and electrical items, you want them to be of a good quality and don’t want to be replacing them all the time, but conversely, you don’t want to have to replace very expensive items for the house. It’s worth mentioning too that very expensive items might increase your holiday home insurance policy.
Price to Rent
You need to make sure you price your rental property correctly if it’s too high you’ll struggle to fill the property and too low and you’ll end up losing money. Have a look at the prices of similar rental properties in the area and don’t be afraid to experiment with your pricing structure until you get it right.
Promotion / Advertising
This is arguable one of the most important factors; you can get everything else spot on but if people don’t know about you’re property than you’re going to find renting it out extremely difficult. Ensuring your property is promoted well isn’t too difficult as long as you’re happy to spend a little bit of money; take out adverts online and in local papers and hire a rental agent, who will help dramatically with listing and publicising your property.
Strong Photographs
If you are spending money on promotion then you don’t want to ruin your listings with bad photography; make sure you use bright, clear photos that show off the property well. You can always consider taking on a professional photographer if you’re finding it tough to get good quality photographs; it may cost a little more but it will definitely be worth it when it comes to listing your property.
Keep the property clean and tidy!
Another one that may seem obvious but keeping the property clean, tidy and free of clutter is an extremely important part of successfully renting your property. Keep your property clutter free, although it’s probably advisable to leave DVD’s, etc. in case your renters suffer bad weather and need to stay indoors – little touches like this can make all the difference.
Get Yourself Insured
It’s extremely important and advisable to make sure you have holiday let insurance to procect not only your guests, but your financial security as well. Make sure to shop around for your insurance quotes too, they can very dramatically by company and you’re much more likely to find an inexpensive insurance for holiday homes if you shop around and get quotes from several sources.