1. Choose the location carefully
Do some research to find out which areas are popular for holidaymakers and look at any other holiday homes in the area. Do you want the home to be near you or in another country? Either way, you need to know what is in demand and what is already available. Can you see yourself enjoying a holiday there with your friends or family? Is it likely people will be interested in renting your property out for a holiday?
2. Know the rules
Make sure you know the local laws and follow them. Think about tax and health and safety regulations and make sure when you set up the property for rent that you’re compliant with all those rules, too. Sometimes you’ll also need a different mortgage for a holiday rental compared to a normal house, so make sure you do your research. It’s a good idea to get insurance for your property too, and make sure that it covers anything from small breakages to serious damage, like damage from a flood or fire.
3. Get organised
You’ll need to find a way to make sure the property is well maintained and kept clean between guests, so have a think about whether this is something you can do yourself, or whether you’ll need to hire some professionals to do it for you. There are loads of great new start-ups that can help in this situation, like AirSorted, who will even manage the letting process for you on top of the maintenance and cleaning, so you can just sit back and enjoy the rental income!
4. Make it easy for your guests
Make it easy for potential guests to find you, see when the property is available and to know how much it will cost them. Create a welcome pack which includes information about the area – include things like where is good to eat and what activities there are to do. Are there any maps and tourist guides for the area? You could also give them a how-to guide for appliances like the shower and oven as it will make it easier for them to settle in and feel at home. It’s always nice to include a homely touch – like a bottle of wine or some biscuits laid out for your guests on arrival. It’s the little things that all add up!
5. Learn as you go
Leave a book at the property for guests to write messages in for you and future guests, and give them the option to give you some feedback. If anyone has a negative comment or experience, take the time to listen and take their feedback on board, it might be really useful to you for improving the experience of your future guests, which will ultimately improve your reputation, and you’ll get more guests come and stay in the future, too! Make sure you stay at the home yourself to get a feel for it and see what is missing and what could be improved, and any little bits and pieces that might be missing.
Shieldpay protects both buyer and seller in any transaction so that you can deal with anyone, anywhere with total confidence.
How do we do it? We verify the identity of both sides, funds are held securely in the Shieldpay vault and only released when both sides agree they’re happy. If anything doesn’t go to plan, we help out with any disputes!
Find out more about Shieldpay, or let us know your thoughts by leaving us a comment or chatting to us on Twitter, we'd love to hear from you! 😉