Holiday homes are great investments if you want to make some extra cash over the holidays.
Unfortunately, many holiday homes don’t pay for themselves because holidays are so few and far between. Many investors struggle to rent out their holiday homes throughout the rest of the year when holidaymakers are on thinner ground.
Luckily, there are some great ways that you can make money from your holiday home during these times.
Here are 4 quick ideas for you to implement and make the most out of your investment:
(1) Advertise effectively
You can easily draw in holidaymakers during the year by implementing good advertising. Identify your target group and direct your marketing accordingly.
If bookings hail from a particular part of the country, for example, you can direct your advertisements to that area and target holidaymakers from there.
Ensure that the photographs that you list online and in newspapers portray the home in the best light possible!
You might even want to consider hiring a professional photographer.
Together with your photographs, you should make sure that there is a detailed description of the home and that you have highlighted the finer points. Remember that your spelling and grammar should be perfect as this will have an effect on the first impression of the advertisement.
Include a list of amenities in the area and it is also a good idea to list a few good restaurants in the area.
Don’t assume that a certain group of holidaymakers will be interested in your holiday home. People from all walks of life might find your unit appealing.
It is important that you focus on a specific group of people, especially if you live in a specialized estate such as a golf course, but remember to widen the horizons a bit as well.
(2) Kit out the home with comfort in mind
People go on holiday to relax and that is what you need to provide them.
Families usually go on holiday together, so remember to child-proof your house against anything that might harm small children.
Install a good television set, WiFi, comfortable furniture that you can afford and fresh linen along with new mattresses for the beds.
Word of mouth advertising is always going to be your biggest form of advertising and you don’t want people gossiping about the 40-year old cane furniture or the saggy mattresses in your unit.
(3) Stick to the rules
Holiday renters need to know what the rules of the body corporate are if the unit is situated in a complex.
Leave clear instructions on where they can and cannot park. Avoid renting out to large groups of students as this may turn into a noisy weekend and there is a good chance that they will disturb the neighbors.
Always remember that you will be held responsible for any rule breaking, not the holidaymaker. So, ensure that they know exactly what they are allowed to do.
(4) Manage the property
There are many benefits to using an agent to advertise in order to ensure that your holiday home gets a lot of attention. Use a reputable agent who is certified with the Fidelity Fund Certificate.
There are many fly-by-nights and con artists who won’t think twice about stealing your money and taking you for a ride. Keep a close eye on the unit and query water and lights as soon as you see the bill becoming higher than it usually is.
You can also ask the neighbor to watch things and report any inconsistencies that they might notice.