Many people with second holiday homes obviously consider renting them while they are not being utilised from the owner, family or friends. By doing this they could cover a few of the costs associated with maintaining the house to make an additional 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. - Accommodation
Equipping Your Premises
When you venture to the holiday property business, it could be tempting to try and limit your initial set-up costs by offering the minimum of furniture and equipment. Nevertheless the advice I have collected from seasoned holiday homeowners is...don't cut and try corners! Furnish and equip your premises along with you are able to possibly afford.
Obviously you're concerned about getting a good return on your investment. The fear that some holidaymakers from hell will wreak havoc along with your possessions might deter you from equipping your holiday house to a higher standard.
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.
In most cases people prefer - and expect - their holiday accommodation to be superior to their very own homes. They are more likely to look after your property if they feel you have taken a lot of trouble to make them feel welcome and comfortable.
Ensuring all of the beds are comfortable is definitely an absolute must. A lack of sleep is enough is ruin anyone's holiday. One owner advises: " Sleep in every single bed in the place! I needed several complaints about a bed during my first year of renting out - and when I next visited my property I realised the complaints were entirely justified." - Accommodation
Bear in mind that many holidaymakers regard certain items - like a microwave oven, satellite TV and tumble drier - as crucial in a vacation property, even though they may not ask them to at home.
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 if you store personal things in the property which are not for the use of your tenants! Many owners find a polite notice, asking tenants not to use particular items, works better. Generally, holidaymakers will respect the owner's wishes. A better solution, if possible, is to store personal items with friends during lets.
It's wise to have removable and washable covers (or throw-overs) on the three-piece suite - particularly if your property is probably the hotter regions of Spain.
As one property owner pointed out: "People can be found in from your beach or terrace and take a moment covered in suntan oil. It took me ages to determine why my suite was filthy every time I visited."
Exactly the same owner continued: "You'd be amazed at what tenants can do. I've had pictures stolen, frying pans apparently used as hammers, the kitchen workbench (wood) used as being a chopping board. Among my buddies had her portable barbecue lit inside the lounge, leaving a very black ceiling! "
This owner's motto is: Be ready for the worst...even though it doesn't normally happen. In seven many years of holiday letting, nearly all her experiences have already been positive!
Using Letting Agencies
Weigh up the cons and pros of using a letting agency to deal with your bookings. The advantage of handing responsibility over to an agency is that they generally deal with all the practicalities for you - from the booking enquiries and money transactions to the maintenance and cleaning of the property.
This is great 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 within a Mediterranean coastal resort in July/August).
Be sure you understand specifically what price the company wants 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 inside your property.
Also check precisely what services the agency provides. Some provide different degrees of service, depending on how much you're willing to pay and also on whether there is a local manager handling certain aspects of your home letting for you.
after and before each does and let this add a full inventory inspection, ask if the agency inspects the home ? Do they really check tenants into your property and let you know that the various major appliances work? Are they going to organise running maintenance and repairs and supply written reports? Are their staff on 24-hour call-out in case of emergencies?
Be sure you understand specifically what you're getting for your investment - as the cheapest agent isn't always the very best or most reliable. If they can recommend a good agency - or if they can advise you which companies to avoid, talk to fellow property owners in the area to see.
Decide whether you desire the same agency to take care of your premises, swimming pool and garden. Many owners prefer to use a different pool maintenance company and/or gardener so there's somebody else keeping a watchful eye on the place within their absence.
The gardener might be able to tip you off...and vice versa if the agency isn't doing its job!
Appointing a home Manager
If you decide against employing an official agency - and also you don't live locally - it's vital to appoint a home manager. You need a reliable and responsible person who lives within easy distance of your own holiday home. You are able to normally find someone willing to achieve this for a small part of a high street agent's fees.
Their duties ought to include a weekly check in the property, arranging to get a thorough clean pre and post each group of visitors, handing over and collecting keys and generally sorting problems.
Consider paying your neighborhood manager to accomplish extra duties, such as shopping, gardening, writing welcome cards etc. Many homeowners find this worthwhile since it lets them examination around the visitors - both to see that every is well off their perspective (which all's well with your property! )
Keep in close connection with your manager who must never give your house keys until given the go-ahead on your part.
Many owners have encounter difficulties after appointing friends as caretakers...complaints from dissatisfied tenants can lead to friction between owner and erstwhile friend! Maintain your property letting as businesslike as is possible.
Cleaning
NEVER under-estimate the value of this vital element of holiday letting. Wastepaper bins that haven't been emptied, sweet wrappers lurking inside a far corner beneath the kids' bunk beds and greasy cookers all amount to an odious commence to anyone's holiday.
It's necessary to have good, reliable cleaners entering the house between lets - many owners send them in for a mid-week clean as well. 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 part and parcel of the business.
If they ever reapply, if you keep a record of phone, addresses and names numbers, you can turn down any "undesirables". Gradually you should be able to build up a loyal band of great customers who come back to you year after year
