Hot Tips For Renting Your Holiday Home
Lots of people with second holiday homes obviously consider renting them while they are not being used from the owner, family or friends. This way they could cover a number of the costs associated with maintaining the house and make an extra income. As it is well worth taking into account the experiences of those people who have trod this path before, i thought the information I collected below would be valuable to those considering renting their holiday homes.
Equipping Your Home
When you venture to the holiday property business, it can be tempting to try to limit your initial set-up costs through providing the minimum of furniture and equipment. But the advice I have collected from seasoned holiday homeowners is...don't cut and try corners! Furnish and equip your premises as well as you can possibly afford.
Obviously you're concerned about getting a good return on the investment. The fear that some holidaymakers from hell will wreak havoc together with your possessions might deter from equipping your holiday home to a higher standard. - Beach
If they can see these are things which the owner obviously cares about...it's human nature, those who've been in the business for years have found that most holidaymakers take greater care with furniture and other more personal items.
Generally speaking people prefer - and expect - their holiday accommodation to become preferable over their particular homes. They are more likely to look after your property if they feel you have taken a lot of trouble to make them feel comfortable and welcome.
Ensuring all of the beds are comfy is surely an absolute must. An absence of sleep is enough is ruin anyone's holiday. One owner advises: " Sleep in every single bed inside the place! I needed several complaints regarding a bed during my 1st year of renting out - so when I next visited my property I realised the complaints were entirely justified."
Be aware that many holidaymakers regard certain items - such as a microwave oven, satellite TV and tumble drier - as crucial in a vacation property, though they might not exactly have them in your own home.
If you store personal things in the property which are not for the use of your tenants, it's not a good idea to keep them in a locked cupboard...it just makes people curious and they may try to wrench the door open! Many owners locate a polite notice, asking tenants to not use particular items, works better. Generally, holidaymakers will respect the owner's wishes. If possible, is to store personal items with friends during lets, a better solution.
It's wise to have removable and washable covers (or throw-overs) on your own three-piece suite - especially if your property is one of the hotter regions of Spain.
As you house owner revealed: "People are available in from your beach or terrace and take a seat covered in suntan oil. It took me ages to determine why my suite was filthy each and every time I visited."
Exactly the same owner continued: "You'd be very impressed at what tenants can perform. I've had pictures stolen, frying pans apparently used as hammers, the kitchen workbench (wood) used as a chopping board. One of my friends had her portable barbecue lit inside the lounge, leaving a really black ceiling! "
This owner's motto is: Be ready for the worst...although it doesn't normally happen. In seven many years of holiday letting, the majority of her experiences have already been positive!
Using Letting Agencies
Weigh up the cons and pros of using a letting agency to take care of your bookings. They generally deal with all the practicalities for you - from the booking enquiries and money transactions to the maintenance and cleaning of the property. That is the advantage of handing responsibility over to an agency.
This is ideal for owners who don't possess the time - or inclination - to deal directly with customers themselves.
The main drawback of using agencies is that they charge a substantial commission for their services, so reducing your profits - sometimes by as much as 25-50%.
Some agencies will guarantee a set income for some types of property in high season (e.g a villa with private pool inside a Mediterranean coastal resort in July/August).
Make sure you know precisely what price the agency intends to charge clients - and what commission they want to take. Dissatisfied clients who feel they've been overcharged by greedy agents are more likely to cause problems in your property.
Also check precisely what services the company provides. Some provide different levels of service, depending on how much you're ready to pay and also on whether you do have a local manager handling certain aspects of your residence letting to suit your needs.
Ask whether the agency inspects the property after and before each does and let this include a full inventory inspection? each let and does this include a full inventory inspection, ask if the agency inspects the house ? Do they really check tenants into your property and explain how the different major appliances work? Will they organise running repairs and maintenance and offer written reports? Are their staff on 24-hour call-out in the case of emergencies?
Make sure you know exactly what you're getting for your money - because the cheapest agent isn't always the very best or most dependable. Talk to fellow property owners in the area to see if they can recommend a good agency - or if they can advise you which companies to avoid.
Decide whether you would like the identical agency to take care of your home, pool and garden. Many owners would rather use a different pool maintenance company and gardener so there's somebody else keeping a watchful eye on the area inside their absence.
If the agency isn't doing its job, the gardener might be able to tip you off...and vice versa!
Appointing a Property Manager
If you decide against utilizing an official agency - and also you don't live locally - it's vital to appoint a property manager. You want a responsible and reliable individual who lives within easy distance of your holiday home. You are able to normally find a person willing to get this done for a small part of a higher street agent's fees.
Their duties needs to include a weekly check from the property, arranging for a thorough clean pre and post each group of visitors, handing over and collecting keys and generally sorting out problems.
Consider paying your neighborhood manager to do extra duties, like shopping, gardening, writing welcome cards etc. Many homeowners find this worthwhile as it enables them to examination in the visitors - both to find out that all is well off their point of view (and this all's well along with your property! )
Keep in close exposure to your manager who must never hand over your home keys until due to the go-ahead on your part.
Many owners have come across difficulties after appointing friends as caretakers...complaints from dissatisfied tenants can cause friction between owner and erstwhile friend! Keep your property letting as businesslike as possible.
NEVER under-estimate the importance of this vital aspect of holiday letting. Wastepaper bins that haven't been emptied, sweet wrappers lurking inside a far corner underneath the kids' bunk beds and greasy cookers all soon add up to an odious commence to anyone's holiday.
It's necessary to have good, reliable cleaners going into the house between lets - many owners send them set for a mid-week clean too. Besides, going down well with your visitors, it gives you an excuse to keep an eye on things.
Don't expect your property to stay in pristine condition after the letting period. There'll often be visitors who leave a mess behind them, break things, trample your plants etc. It's all parcel and part of the business. - Beach
If they ever reapply, if you keep a record of phone, names and addresses numbers, you can turn down any "undesirables". Gradually you should be able to develop a loyal band of good customers who come back to you year after year