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Top Tips on Letting Your Home

Tip 1: exposure is everything

Many agencies will tell you that they market your property on-line, but that means just on their own website. The world has changed. Air BnB, and the rest dominate holiday bookings and spend £millions to generate traffic.

So that’s where we market your property at no additional cost to you alongside all of our traditional marketing.

If you’re looking for maximum exposure without limiting your audience and managing costs, its best to advertise a property in as many places as possible. At Wight Holiday Lettings, we also have a lovely website, but don’t just rely on this to generate bookings for your properties. We also market your property on over 50 different websites, worldwide to gain the widest audience we possibly can and put your in front of millions of potential guests. More exposure means more bookings!

It really is the best of all worlds. Maximum exposure for no more cost. We do it all. If you’d like more information on how we manage our properties across so many platforms and deal with enquiries from multiple sources, please get in touch and see if we can help you market your property to greater effect.

Tip 2: location is key

Choosing where to buy your holiday property can be very tricky. You may be fond of a particular area and choose a property that suits your requirements, but this may not appeal to potential holiday renters. If you’re looking to maximise return on your investment, its best to do your research first. Find out what areas are popular with holiday rentals, even if this isn’t your preferred destination. The right property in the right location will book with ease, whereas something in a less popular area will have to be something spectacular to obtain as many bookings.

With years of local experience in our team, and living locally, Wight Holiday Lettings know the ‘hot spots’ to invest. We can give you unbiased advice and help you find a suitable property. Please get in touch.

Tip 3: less is more

Coming away to your own holiday home, filled with personal possessions, family photos and dozens of other reminders of home can be very relaxing for an owner, but for a guest, seeing so many personal items in the property can be a little off putting. The expectations of guests have shifted considerably in recent years, with people looking for more of a ‘hotel feel’ to their holiday rental, with matching furniture, sheets, towels, crockery and a minimum level of reminders that they are in someone else’s home. It’s important to have a fully stocked house, with enough plates, glasses and spoons for everyone and some additional items do make a difference, but it’s important not to clutter your holiday home.

Before holiday letting your home, we will arrange for a detailed inventory and schedule of condition to be drawn up, leaving nothing to chance. For advice on what you should include as a minimum inventory, please give us a call. We can also advise on safety regulations and minimum standards.

Tip 4: how to maximize bookings

There are some obvious things that help maximise the level of bookings a property will achieve, such as having a Sea view, but this isn’t possible for all properties. So, it’s best to try and include the other key features people are looking for. Allowing people to bring their pets can be a huge bonus to bookings and on average will generate 10% more bookings then a non-pet-friendly property. Short breaks have grown in popularity considerably in the last 5 years and offering flexible availability to potential guests will ensure you don’t miss the boat on this growing market. There are many other ways to increase bookings at your property, some easy than others to implement.

When we appraise your property for its’ letting potential, we will concentrate on bringing out its plus points. Sometimes some small changes in approach can bring big rewards. For more advice on what you could do to get more guests, please get in touch with us for a chat.

Tip 5: photos = bookings

We are flooded with thousands of images when searching for the perfect holiday destination and it’s very hard to make your property stand out above the others. For this reason, we use our inhouse professional photographer for all of our property images, to ensure that your property makes that required impact on the browsing potential guest.

There’s a lot an owner can do to help the effectiveness of the photos, by ensure that the property is well dressed, tidy, free of clutter and well maintained, as you’ll be amazed what people notice in photos.

Take a look at our images and compare them to some of our competitors! Talk to us about how we can better present and sell the benefits of your holiday home for you.

Tip 6: know your market

Depending on the location and style of your property, you will attract a different type of holiday guest. Properties near the sea will attract most people but particularly families with young children. Rural properties tent to attract slightly older guests who prefer peace and quiet to buckets and spades and may by there just to enjoy the local walking routes. It’s always best to think carefully about the key demographic that will be booking your home and where possible, make it more appealing for those guests. Adding children’s toys and beach equipment to family homes near the sea or including free walking map routes and a boot-room to a rural property will make all the difference to your repeat guests.

If you need advice on what you could add to you own property, please give us a call

Tip 7: understand your responsibilities

As the owner of the property, it is your personal responsibility to ensure that all safety and compliance requirements are up to date and in place. We can happily advise, assist and instruct works where required in order to meet all the legal compliance and manage all requirements for annual renewals, inspections, etc. Whilst the holiday rental market is still fairly unregulated, we believe its best practice to be ready for all eventualities and potential changes in legal compliance in the near future.

It really doesn’t pay to skimp on safety and leave things to chance. We only deal with properties that are compliant and meet our minimum standards. That’s exactly what our holiday homeowners expect. Contact us for more advice on what you need to do to be ready for your first guests.

Tip 8: managing your holiday home

If you’re lucky enough to live locally or on the same site as your holiday property, keeping on top of cleaning, laundry, maintenance, inspections, guests’ requirements, lock-outs, etc can be fairly straight forward. However, if you’re not in the area all year round, these things can be very difficult to handle remotely. We offer a fully managed service to take care of all the things you could worry about and all of the things you haven’t thought of that may crop up in the middle of the night. Its best to have a contingency plan for variety of likely problems and also have access to reliable tradespeople. Guests expect everything in their holiday rental to be perfect and delivering on guests’ expectations is vitally important.

For more information on how we take the worry out of holiday letting, please get in touch

Tip 9: pricing your property right

When deciding how much you’d like to charge per week or per night, its important to do your homework first and investigate what similar properties are letting for. There are hundreds of sites out there, with wildly varying pricing, so this can become very confusing. Getting the balance between what you need to achieve and what guests are willing to pay can be tricky.

We use a variety of pricing tools and methods to create an individual pricing appraisal for each property, based on size of property, style, area, access to local attractions, etc. We are careful not to overvalue your property, and risk it sitting empty week after week while other properties are fully booked.

If you’d like help pricing your property and would like a free appraisal, please contact us.

Tip 10: understand your financial benefits

There’s a reason that investment in holiday homes has increased substantially in recent years, and that’s down to two main points.

Firstly, ‘staycations’ is a growth market, which has seen a 3-5% increase in bookings for the past 5 years, with no sign of the market slowing.

Secondly, there are certain tax benefits that can be taken advantage of when investing in a holiday home, provided certain criteria are met. We can offer you some advice in this area if you’re thinking of taking the leap into the holiday letting market.

Are you maximising your returns and claiming for all the items that are tax deductible? It’s surprising how many experienced owners are not taking full advantage of the available reliefs. For more detailed advice on how you can profit from your investment, please give us a call.

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