In the UK, the holiday rental market has increased by 3% in the last year, so if you’ve got a holiday home on which you're hoping to make a profit, read on...
Netflix has taken a leap into the home renovation genre this summer when it released a whole season of Stay Here in mid-august. But the show is not just about home renovation. In it, designer Genevieve Gorder and real estate expert Peter Lorimer visit vacation rental properties all over the USA with the aim of helping owners to maximise profit. Here’s what we learned from the show:
Even if you’re planning on staying in your own second home from time to time, when it comes to the interior design it’s all about your guests. You might be really into red leather furniture but that doesn’t mean your guests are going to love it - and they’re the ones putting money in your pocket. Take down photos of your family and friends to make it a place your guest feels at home, even if it’s just for a long weekend.
As Peter Lorimer says, more beds = more heads, and more heads means more profit. The show sees Gorder and Lorimer make bedrooms out of what used to be offices, dining rooms and even home gyms. The more people you can sleep in a property, the more you can charge for it - it’s simple maths.
Making money from a holiday rental is all about the views - those Instagram opportunities. The first thing people see is the front of your home, so make it look inviting. The same is true of views from your property into outside spaces. Making the most of gardens, balconies and terraces is a great way of creating extra living spaces in the house and of making the property more visually appealing for guests.
Keep it local
Your guests have chosen to stay in your home because they want to visit the area around it. Bringing some of the character of that area back into your home is a great way to get those good reviews and return visits. Lorimer swears by keeping some local delicacies in the fridge ready to welcome your guests, and Gorder always leaves space in the house for a book of recommendations. Find out what attractions make your locale unique, and send your guests there for a memorable experience.
The listing for your rental is absolutely crucial to getting people to make a booking.
No one wants to stay somewhere that looks dingy and unloved. If you can afford it, splashing out on a professional photographer is an expense you definitely won’t regret. If not, photographer Chris from Stay Here has a few suggestions:
Let there be light!
Let in as much light as you can. No one wants to go on holiday in the dark - show them what your place looks like when it’s bright, airy and welcoming. It’ll also make for more flattering photographs.
Shoot from the corners
Standing in the corner of a room to take a photo will maximise the amount you can fit in the frame, making the space look roomier.
Snap to impress
If your property has an amazing garden or a pool, make that the first photo people see when they open the listing. The most impressive feature of your house should have pride of place.
If you don’t live near your holiday rental or you don’t have time to manage it yourself, a property management agency could be a great way to go. They can do the day-to-day management of the property, cleaning and laundering sheets. They can also help you with marketing, making sure the listing is top notch, the guests are happy and the good reviews pour in.
Optimize your mortgage
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