Welcome to Part 1 of our 2 part series on increasing the rental value of your holiday property! Be sure to sign up to our mailing list so you know as soon as the next post is published!
To increase the rental value of your holiday home, you need to not just enhance the appeal and desirability of your property, but also carefully make use of the information that’s available to you.
Now, by ‘increase the rental value of your holiday home’, we’re not simply talking about the ‘per night’ charge, but rather the per year income. This is, after all, the real value of your holiday home.
If you can only rent out the property for one week per year at €500, then the yearly rental value of that property is just €500.
With this in mind, we hope these tips will help you to increase the per year rental value of your property by helping you to generate more bookings, higher per-night charges, and more repeat visits.
Of course, all of these methods involve some time, but you’ll be glad to hear that not all involve money. Some will not directly increase the rental value of your property, but should indirectly lead to results (such as more positive reviews from past guests) which will enable to you increase your rates further down the line.
Included in this document are a selection of ideas, from the obvious (which are often overlooked), to a few tactics that you might not have thought of.
Collect Customer Details
If you know the email address and postal address of your past guests (as well as those who’ve contacted you about your property but not booked a stay yet), you can contact them in the future, and let them know what’s happening. If there’s a fiesta next month and you haven’t got any bookings, shoot out an email and let people know what to expect from the fiesta. Sell the experience, and you may just get a booking!
Keep Everything Spotless
One of the first things you can do is make sure all areas of the holiday home are free of tarnish and grime. A dirty, scruffy property will not attract higher rental costs. Make sure you’re paying attention to the details. Is the dust removed from the corners of the every room? Have all cobwebs been swept away? If you have plants and flowers, make sure they’re alive and well. Oh, and air-fresheners please.
Improve Your Description
You’re not selling a house here, not are you selling an accountancy service. You’re selling an experience. So make sure that when a potential visitor reads about your property, they feel the excitement, and they truly understand that staying at your holiday home will provide them with the exciting, relaxing, luxurious, or homely experience they’re looking for. If you’re not a confident writer, considering hiring a copywriter to put this description together for you.
Make the Bathroom More Luxurious
As one of the more intimate rooms in the home, the bathroom should make your guests feel pampered. Ensure the bath and shower are clean, in good condition and that the mirrors are adequate. A tired floor can be revitalized inexpensively with a range of floor tiles. Then turn your attention to the smaller details. Include some quality products (shampoos, soaps, hand wash etc), as well as some luxurious towels and bath robes. Including these items not only saves valuable packing space for your guests, but also adds a more ‘quality’ feel to their stay, which they’ll rave about when they return home.
You may request people stay at least 5 days, but perhaps this isn’t the best offer. What if flight companies have deals which make a 3 day stay more appealing to your potential guests? If so, consider offering deals that fit within these parameters.
Check Your Appliances
Again, in an attempt to make your guest’s visit as seamless as possible, make sure everything from the kettle to the fridge, to every light-switch and bulb in the house is in good working order. The addition of washing machines and dish-washers add value, and gadgets such as sandwich toasters and bread makers are attractive novelties. And it goes without saying, get air-con installed. For many holiday-goers, air-con is a non-negotiable feature of a holiday home.
Don’t Ignore the Outdoors
Landscaping a front or rear garden and maintaining the lawn and plants is a winning strategy. If there is no garden as such, the outdoor space should be kept tidy. The availability of parking on the property is also a valuable selling point for visitors.
Research Flight Times
Customer service does not simply revolve around the property. If you check online and see that the only flights on a Wednesday or Thursday arrive at 11:30pm, which makes getting to your property via public transport (or even taxi) difficult, arrange for airport pick-ups and drop-offs for your guests, so they have no reason to say ‘no’ to your property when searching for a place to stay.
Protect Your Guests
Additional security for families is never a bad thing and installing an alarm system and a safe, is often a good-selling point for the holiday home brochure and website. After all, many people now travel with laptops, iPads, phones, and a whole host of other expensive items. Make sure your guests feel safe leaving their belongings in the property while they go to the beach.
Fresh Flowers Sell
A smattering of fresh flowers in the kitchen and lounge are a welcome sight and can add an attractive spray of colour to the property. This shows your guests that you care, and that the property has been checked over very recently.
Set-up a Facebook page
Most vacation testimonials sit in a dusty book on the telephone table. Create a Facebook page for your business and put all the positive guest comments on the site for all to see. Encourage your guests to post their holiday snaps to the page, and to share the page with their friends. In the future, you’ll then still be able to reach your old guests, letting them know of changes you’ve made, or discounts that are available in order to bring in more bookings.
Make Booking a Breeze
Don’t try to collect every bit of information you can from your guest when they’re booking. Make things simple, quick, and as relaxing as possible. you don’t want to turn them away just before they hit that ‘Make a Booking’ button.
Our next blog post will contain even more tips on increasing the rental value of your holiday property. Be sure to sign up to our mailing list to take advantage 🙂
Whether you implement all of the above ideas, or just a few, you should hopefully see an increase in the yearly income of your rental property. Remember, it’s all about attention to detail. The detail of the property, and the detail of the information you have at your fingertips.
Good luck, and please do let us know how it goes!
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