If you are a landlord and considering getting into the holiday lettings market we thought that you may find the following information useful. Do bear in mind that this area of property rental is rather complex so you may wish to obtain some professional advice.
Where to buy a holiday rental property?
There are so many possibilities. In deciding where to buy a holiday let you need to consider whether it is going to be situated within reasonable distance of where you live or not.
Do you prefer it to be situated on the coast or in the countryside? Properties with a sea view can usually attract a premium rental but, of course, you may have to pay more for it.
Booking and Enquiries
In the early years, you may wish to advertise your holiday let through companies that specialise in such properties and accept that you will need to pay them a commission. Once you are established you may be able to advertise the property independently. In any event, you will no doubt want your own website.
When you receive an enquiry you should respond to it quickly as this will look professional. Do follow up enquiries from people that say they will get back to you once they have made a decision.
When a booking is made ensure that all the paperwork is completed as quickly as possible.
There are different ways that you can accept a deposit and payment with one of the most popular ways to pay a deposit and the balance being by way of online banking with the customer arranging payment directly into your bank account. Another way is to use a PDQ machine that accepts debit and credit cards.
You may also wish to take a security deposit.
Greeting your customers
Agree an approximate arrival time so that you can be on hand to greet them with tea and cakes on hand. Another nice little touch is to have the likes of an initial supply of bread, milk etc. available on arrival.
Have an information pack in the property covering such things as basic rules, where things are located in the property i.e. brush and pan, contact numbers in case of an emergency and places of interest.
First appearances count so make sure the property is clean and tidy. If bedding and towels are provided make sure that they are replenished with clean ones when the previous guests have left.
A lot of people research holiday accommodation by using the likes of the above so encourage people to leave reviews about their stay in your holiday let.
The above list is not exhaustive but hopefully it provides a few useful pointers.