You should be monetising your second home as a holiday rent…
With staycations being more popular than ever before, couples and families are looking to the beautiful areas of the United Kingdom to take their annual holidays. Whilst summer is peak season for these adventures, other special occasions such as Easter and Christmas also invite breaks away. And with holiday makers wanting more freedom with their stays, self-catering properties are proving most popular, with properties in touristy areas most sought after.
With that, there’s no better time to delve into the world of holiday homing, especially if you’re looking for an exciting new source of income. There are a variety of measures that need to be undertaken in order to proceed, below we outline the top priority things that should be processed, before renting out your second home as a holiday let:
Research the other holiday lets for rent in your area
Checking out the competition is an age-old tactic, but an important one. Ensuring you are charging a competitive amount for your offering is key.
Think about finishing touches
Personal touches make all the difference when it comes to holiday homes. It’s sensible to think about offering a welcome package of sorts, which may include everyday essentials such as tea and coffee. Personal touches add value to your business, the more details you offer, the more you may be able to charge.
Ensure you have your legalities in order
Insurance and mortgage advisors both need to be kept in the loop when you decide to make this exciting change. Ensuring you are above the law and not in breach of respective terms and conditions is highly important.
Promote Promote Promote
Starting to pull in your customers can be tricky at first, but it’s important to get the word out there, a new fabulous property is on offer for your holiday! Think about introducing your property to a local tourism website, or perhaps creating some professional leaflets.
So, we know what you’re thinking, in theory this all sounds fantastic, but that seems like a super complicated and extremely time-consuming process. Thankfully, the age of the letting agent means that there are ways around this. Choosing an agent that will be there to support you through the process is key, say for example you are in the Lake District area, Lakelovers are a great option for guiding you through the process. They allow you to be as involved in the process as you wish to be, they can handle absolutely everything for you, or if you’d prefer a more personal experience, they will be there to deal with the sides of things you’d rather not but leave the fun bits up to you!
Offering your second home as a holiday home can be both a profitable and fun experience for all involved, and believe us when we say, if you’re not thinking about it, you definitely should be.
