Your return on investment and profitability depends on how carefully you manage the property

In fact, holiday lets can be amazingly profitable, as a landlord you are able to charge higher rents for short-term holiday lets when a property is in a highly desirable location.

Yes holiday lets can be very profitable, but like everything, how profitable depends on how carefully you set up and manage the property.

If you choose a good property and have a steady stream of guests and manage your marketing and expenses carefully there is profit to be made.

Location Matters.

Holiday rentals live or die based on their location. Most people will pay over the odds to rent a cute cottage adjacent to a blue flag beach but would be reluctant to pay to stay in a standard house in the middle of a residential estate

Good Looking Properties Perform Better.

How a property looks is just as important as its location. Quirky, historic, or luxurious properties tend to be more popular among people looking for holiday lets. If you live in an ordinary, modern, three-bed house, it stands to reason you want to rent somewhere a bit different for your holiday.

Correct Preparations for Visitors.

As your guests will be staying in the property as a holiday you will need to ensure that you provide everything they might need to make their stay comfortable. You will want the property to feel welcoming and so you should put effort into the look and feel of the property.

Fixtures and Fittings.

In most instances a short term rentals won’t be your home, so be careful not to personalise it too much.

Rules and Regulations.

All kinds of property rentals have some level of compliance to contend with and holiday rentals are no different. You may need planning permission, health and safety issues and any legislation you need to be aware of if you want to get into holiday letting.

Where to Advertise Your Holiday Property.

Word of mouth, Social Media, Listing sites, do you need a website, Google maps, Google business…what do you need and what works.

Advertising and Attracting Customers.

Marketing and advertising your holiday let is the key to success with this kind of strategy. As there is a high level of turnover in holiday lets advertising and getting a stream of steady customers is more essential than it would be for say a buy to let strategy.

Promoting Your Holiday Rental.

Once your property is ready to rent to the general public, the next step is to create a listing and get your property out there. The more you shout about your holiday let the more chance you’ll have of keeping a steady stream of visitors coming. Remember, photos sell a holiday let, so your photos need to be top-quality. Dress the property to impress.

Imagine you are trying to sell the place, so stage it to suit your ideal guest. Write some suitably persuasive advert copy to accompany your photos. The aim is to let guests know what to expect, paint a picture of an idyllic getaway where they can forget all about the stresses and strains of modern life.

Self Management Versus Property Management of Holiday Properties.

Do you do it yourself or use a property manages or bookings agent…or maybe a bit of both. You need to consider your time and what suits you. Should You Allow Pet, How do you vet guests..all considerations

Financial Considerations.

How much should you charge without being too expensive or too cheap, how much to allow for marketing, what will I need to keep aside for repairs and maintenance, gardening and cleaning and what is the cost of insurances. All questions you need to ask.