6 Thing You Need to Know About Holiday Let Management

Do you have a house or any form of property that’s left unoccupied for most of the year? Are you looking for extra ways to earn that does not require you to always be hands-on? Then it may be time for you to venture into the holiday let market.

Gone are the days when travellers looking for a place to stay have no other choice but to check into a hotel. The number of people who are opting for self-catering holidays in the UK alone made a huge leap from 6.22 million to 7.23 million between the years 2015 and 2017, according to statistics from Visit England. This number has been steadily skyrocketing, which is why this is the perfect time for you to capitalise on it.

Having your own holiday let is, undoubtedly, a lucrative investment. It does not require the overhead costs that most businesses do, and you don’t even have to be there personally all of the time!

However, in spite of the many perks of owning a holiday let, there are still some occasional hiccups that you may encounter along the way. Most people who own and manage lets don’t live near the place, and this can be especially challenging when you need to take some time and look after your property.

If you have been looking to manage your holiday let, or are planning on having someone else manage it, there are a few things you need to know before you get the ball rolling.

#1 Be clear about your lease terms.

Are you planning to let your property be rented for a short time only or for long term? It is important that you are clear and direct about your lease terms, so that you won’t encounter any problems in the future.

The best tip that we can give for this is to have a calendar ready. This calendar will pretty much serve as your guide for your potential clients. Through a calendar, they will be able to know which dates are not available, and how long they can stay.

A common problem that happens among holiday lets is overbooking. Especially on those days when the demand is higher, it can lead to people booking for dates that have already been reserved. This is why it is important for you to keep your calendar updated, and to inform clients if their dates have already been blocked off on the holiday home’s calendar.

If the property is something that you want to use sometime in the future, be sure to block off those dates for yourself! After all, it would be nice if you can get to experience what your visitors will be living in once they choose your holiday home. From this, you will be able to know which features to improve, and what rooms need to be looked after more. Think of it as an ocular visit for your business, with leisure on the side.

#2 Know your place.

We’ve already mentioned that you should conduct oculars at least thrice a year, but you should not limit the visit to the holiday home.

People who are coming to your place to visit will appreciate it if you can tell them about the place. They will most likely be asking it anyway, so it will be best if you are ready with suggestions. These include what activities they can do around the area, what interesting places they can visit, and any other things that will make their stay more enjoyable.

We recommend that you have these places and activities displayed on the holiday home’s page already, so that it will attract more people. You should also take note of the means of transport around your area. Take note if there are nearby trains or bus stations for them to go around the city easier.

Market your place well, since it will get people excited to visit your holiday home. Don’t go overboard though, and promise fairy tales to your clients! Let your property be a star on its own.

#3 Repairs and maintenance.

Before the busy season rolls in, make sure that your holiday home is in tip-top condition. It will be a huge turn off if the place only looks good in photos, but does not really provide comfort and enjoyment to your visitors.

It will be best if you can have a go-to repairman and cleaner that you can trust to look after the home. These are preferably people who live near the holiday home, and can clean up after the place and repair anything that gets broken.

A fault that can be easily avoided in this venture is that some holiday home owners only do a major clean-up of the place once a year. This is a big mistake because you would want to gain the loyalty and appreciation of those that rent your home, and presenting them with a worn down place. It will not just ruin their experience, but it can destroy the reputation of the holiday home as well.

#4 Have house rules ready.

As much as you want your visitors to feel at home and comfortable with their stay, it is important that you think about the long term effects as well. After all, this is your property and your business; It is only right that you set some guidelines to make sure that your visitors and your property are both safe.

Set boundaries. If you are someone who doesn’t want the stains and smells that come with food on a stove top, that you can prohibit cooking. Of course, you should do this only if you provide an alternative for them, like delivery numbers or at least a microwave.

There are also the basic ground rules like penalties for breakages, overtime fees, corkage fees if your place is a short-term resort style, and many more. We recommend that you sit down and think about what can go wrong if your visitors get a little too rowdy and careless. It is important that you are ready for any situation, so that you will have the paperwork to refer to in case it happens.

Another important thing that you need to put your foot down on is payment terms. It will be best if you can require a no-refund reservation fee once the clients have booked the date, so that you have assurance. One other option is to require full payment up front, if your place has gathered enough trust and has accumulated a good reputation over time.

Be crystal clear about your payment terms so that you will avoid any misunderstandings in the future.

#5 Take advantage of technology.

Technology is readily available to us, and there’s no reason for you not to utilise it for your holiday home. From security to leisure, there is something that has been innovated for your convenience and enjoyment.

A surveillance system is already a given, so that you can monitor if there are any emergencies or accidents that will happen. You don’t need to install them in every room; Just in the entrance and in the living room. Be sure to let visitors know that you have surveillance cameras in these places, though!

Some people who are on holiday tend to want to rent out places to get away from the hustle and bustle of daily life. While you should take advantage of technology in the house, keep it to a minimum so that your visitors can enjoy their time alone or with their loved ones.

Another way you can take advantage of technology is by marketing your holiday home online! Build a page on it on social media platforms, and highlight its best features. You can also ask for testimonials from past occupants, so that it fosters trust in those that are viewing the page.

#6 Build a good reputation for your holiday home.

There is really no better way to market your holiday let than through word of mouth. If someone has a good time staying at your home, they will most likely recommend it to their friends and family! Even photos that they post online can make a huge impact, and cause a butterfly effect.

This is why it is even more important that you make sure that they get more than their money’s worth at your place. A happy client will undoubtedly speak well of your holiday home, which can induce others to take interest in it as well.

Do you have a space or home that you want to let out? Get started with Host North Yorkshire! We offer unique, flexible, and a guaranteed way for you to earn through your property. Drop us a quick message so you can start earning today!