How can you use your holiday home to earn some extra cash? Holiday homes tend to be expensive to maintain when you’re not there, and especially if you only visit once or twice a year. As well as paying for basic upkeep, you may also be spending a lot on bills, a mortgage, and extras like maintaining a broadband connection and a TV license. By letting out your holiday home, you can still enjoy the benefits of having one, while using it to make what can be a significant amount of money every year.
First Things First
The first step you need to take to realising the value of your holiday home is to try and get an estimate of its value for the local market. This means looking at what other properties are being let in the immediate area, and how you might have to invest in renovations to bring it up to the same standard. It’s also important to thin about what the best features are for the house, and how this can be enhanced. In most cases, it’s best to seek advice from a professional letting agency that can help you to shape the best possible advert and placement for your home. For example, you can advertise with Cottages Direct and other online letters, with the aim of finding the unique selling point for your property.
Do Your Homework
It’s worth spending a lot of time on the advertising campaign for your property before you officially put it onto the market. Having a strong online marketing campaign is particularly important if you want to reach a large number of people. Again, going through an established online letting agent can make a big difference here. One way of boosting attention for your ad is to use Search Engine Optimisation, whereby keywords and links are used to help bump up your rankings. Moreover, you can enhance the quality of your advert through professional photographs, and providing as much information as possible about the house and the area. For overseas holiday homes, it can be an idea to have a local agent that can provide different languages and local expertise.
In addition, you may have to make some significant renovations to your holiday home to bring it up to scratch. For example, you might want to make a home more suitable for families by adding in child cots, high chairs and toys. Alternatively, you can turn a one bedroom cottage into an attractive romantic getaway. In general terms, it’s always a good idea to get any lingering jobs out of the way before you start letting out a property, which can include re-grouting bathrooms and painting rooms.
A Word of Warning
Be careful, though, to avoid some common mistakes when it comes to letting out a holiday home. These can include making it available for one off events like a wedding, whereby it might get damaged more easily. You also want to be careful about setting up rental insurance and public liability insurance in the case of malicious or accidental damage. Some holiday home letters are also wary about letting out their properties to young all male or all female groups.
Rob James is a well seasoned traveler, he loves nothing more than Holiday Cottages in the UK, at least twice a year. Rob can be found blogging about his experiences in many different places around the globe, from France to Tailand and further afield!