The holiday rental business is worth billions of pounds a year, but the market is increasingly competitive. To run a successful holiday rental business you need to know your target market, and it is no good trying to attract everyone, just one or two well-selected target markets will have a far greater appeal.
This increased demand for holiday rental properties gives a fantastic opportunity for property owners wishing to supplement their income. To rent a property in Bracknell as holiday rental prospects could be financially profitable, but to succeed in a
holiday rental home company, entrepreneurs must first understand the market. Here are some things to think about.
Location
A good location is crucial for successful holiday business, just as it is for buying a home. Holiday visitors will seek popular destinations or appealing vacation areas that are easily accessible. While renting a holiday cottage in an isolated location may seem romantic, visitors will not flock in big numbers if it is not in a desirable location and is difficult to reach. If you’re thinking about buying, using property search engines to learn about the local housing market will offer you a decent sense of how long houses normally stay on the market, as well as the location’s appeal.
Property
To be consistently booked, your home must be appropriate for the region and the needs of your vacationers. Depending on the location, guests will expect various issues to be addressed. This winter, for example, homeowners will need to make sure that their home is adequately heated and insulated to keep guests warm.
Outdoor space should be a concern if you want to maximise attention in the spring or summer. The pandemic of Covid-19 has sparked a strong craving for outdoor space. Families will be drawn to vacation houses with outside spaces where they may unwind. Consider what your visitors will want the most in your location and meet their wants.
Interiors
The interior of your vacation home, like its exterior, is vital. Styling and arranging your property is an excellent initial step, as it ensures that the photos on your listing stand out from the start. Making your house appear fantastic will go a long way toward persuading holidaymakers to reserve it.
While there is no one-size-fits-all solution, consider the type of person you want to attract and what they are likely to like. Light colours and colour coordination are good principles for calming guests, but researching similar holiday rental properties in your area will help you style your ideal holiday rental offering.
Installing materials and flooring that are durable and likely to hide stains is a good investment on a practical level. This winter, families may bring muddy boots in after excursions in the woods or countryside, so choosing sturdy materials that resist wear and tear can make life easier for the homeowner.
Promotions
It’s pointless to have a fantastic holiday rental property if you can’t contact your potential guests, therefore effective marketing is critical. It is recommended that you take high-quality images of your property that can be shared online, so make sure it looks its best. According to Expedia Group’s ‘What Travellers Want’ study, travellers clearly want to visualise their stay.
57 percent of respondents felt that detailed images would increase their confidence in booking a hotel. Arranging for a photographer to shoot the property is a nice first step, but taking photos that are well-lit and highlight the property’s distinctive qualities will also work.
Laws and regulations
The rules and regulations that relate to vacation rents are another important consideration for people considering letting a property for holiday rental. To be classified as a ‘Furnished Holiday Let’ in the United Kingdom, you must follow a set of guidelines. It must be furnished and available for 210 days per year to qualify as a holiday let, and it must be commercially let for at least 105 days per year to qualify for ‘furnished holiday let’ tax status.
Furthermore, single lets cannot be for more than 31 days in a row. There are also responsibilities and obligations to consider in terms of health and safety, mortgage implications, and insurance issues, particularly if you hire a maid or clean. It’s critical to review all of the specific rules and regulations that must be followed in order to legally rent your home.
Property management
Managing a vacation rental property can be a time-consuming chore, but there are a number of tools available to help you. Installing a key safe or a smart lock in a secure position that visitors can access without you being there is a top priority for individuals who want to manage the property themselves. This is a low-cost method of allowing guests access to the property, as picking up and dropping off keys may be done remotely and with minimal effort.
It will also encourage repeat bookings if the home is clean when guests arrive. Hiring a housecleaner may be the most convenient way to prevent unwanted feedback. In this situation, professional cleaning services for short-term rental homes are available, which will ready the house for new guests.
Additional considerations
Finally, having a good WiFi connection is critical. While many people seek to ‘get away’ when staying in a vacation rental, this no longer means foregoing access to the internet. Whether it’s for late online browsing, seeking for local information, or for guests working away from the office, individuals will require a reliable internet connection.