4 Reasons You’re Not Getting Adequate Returns From Your Holiday Home
If you are not getting the return on the investment you had hoped for, there could be a few reasons. There may be an inadequate contractual agreement in place. You might also need to do some marketing or make some changes to the furnishings. If this is not enough, then maybe it’s time to address quality of service and environmental concerns. These four things can help increase your returns from your holiday home.
Lack of a Well-Written Contractual Agreement
As the owner of a holiday home, you are in charge of securing your property. Unfortunately, many owners do not take this responsibility seriously enough and end up with financial losses to make up for it later.
One way to avoid these unfavourable circumstances is by creating a holiday let agreement that includes allowed guest arrivals times and whether you allow pets. In addition, if there has been damage done to certain areas after someone visited without consent, this can also be mentioned within the agreement so that compensation may be sought accordingly.
Provide a detailed description of the property in your listing, including details on any improvements you have made to it recently.
Include information about how long you’ve owned the home and what kind of experience this has been for you as a landlord.
Include photos that fully show off both the interior and exterior when possible.
Offering up all this detail will allow renters to make an educated decision about whether or not they want to rent from you before moving forward with their application process.
Insufficient Marketing
Marketing your properties is the most critical part of property investment. It is what drives renters to your properties and entices them to choose you over others. Unfortunately, if you aren’t marketing properly, this could be why you’re not getting returns from these properties.
Post photos frequently with captions about each room’s amenities or any cool features within the home itself. This way, potential renters who may not have seen your home in person can get a sense of what the property looks like.
Include a map on every listing so that people know exactly where they are going without having to screenshot or memorize an address.
Ensure all images within each post are appropriately lit with no glare from harsh sunlight, as this could deter clients from choosing your rental.
Don’t forget about social media. Include links to Facebook/Instagram profiles next to the names of each room so that potential renters can see what it’s like to stay there before booking
Unappealing Furnishings
It is not just the interior designs that contribute to this. The exterior of your holiday home should also be well-maintained and attractive to attract potential customers. Make sure you have prominent signage in place, which will include a contact number for interested parties who would like more information about renting out your property.
Ensure there are no unsightly items such as weeds growing near or around it either. If possible, add potted plants, too because these look much better than plastic ones. You could even hang up a festive wreath during Christmas time if you want to draw attention from passers-by.
Quality of Service and Environment
There is no doubt you made a good investment in buying your holiday home. But if the returns on this investment are not what you expected, it may be because of reasons such as lack of marketing or unappealing furnishings. However, there could also be another reason: poor service and environment at your holiday destination.
You can never underestimate how important quality customer service and pleasant surroundings are for most tourists. Ensure that everything looks just right and feels inviting to guests – from the wallpaper to the toilet bowl. This seems like an obvious tip, but many people still fail to see its importance.
Conclusion
In conclusion, there are several reasons you aren’t getting the returns from your holiday home that you want. First, you can have a well-written contract, but if there isn’t enough marketing or an environment people will enjoy, then no one is likely to use it. Second, make sure whatever furnishings and decor items you choose are appealing, so guests feel comfortable. Lastly, ensure they get good service upon arrival for maximum satisfaction.
You May Also Enjoy
Housing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024
Westminster council must outline how their proposals on property boards will not hinder market
National Federation of Builders View on Chancellor’s Speech
Landlords and Tenants: A Balanced Relationship in the Private Rental Sector (PRS)
Government Correct to Head Off Climate and Nature Bill