So everything is now in place in regards to looking after your property, if you have decided to use a full management company to do everything for you all you now need to do is sit back and let your property earn its keep, if however you have decided to make the most of your properties earning potential and manage the holiday rental bookings yourself then there are a few more things for you to do…
Obviously by deciding to rent your holiday property you want your property to make you money but remember that you must set a sensible rental tariff to attract holiday guests.
Researching into rental tariffs is essential, you don’t want to be the most expensive but at the same time you don’t need to undervalue your self catering holiday rental accommodation.
Compare prices of other rental properties in your area, speak to other owners and agents, some agents have been known to charge up to 50% commission on each booking, so this gives you an ideal position to undercut on agents prices.
Remember that people looking to book their holiday accommodation direct with the owner will be looking for the best prices possible, so bear this in mind when setting your rental tariff and handling your enquiries.
On deciding your rental tariff, there are a number of factors to consider these include:-
• Location – are you near the beach, town centre, popular resort?
• Size of property, how many bedrooms, how many can your property sleep?
• Swimming Pool – Private or communal
• Transport Links, are you close to the airport , local attractions
• General Standard of the Property
• Local Amenities
You can also vary your rental charges to suit the time of year, high, low and mid season. You will find that you will have more enquiries for certain times of the year in particular school holidays, bank holidays, Christmas and Easter.
Once you have ‘set’ your rental tariff, test the water, these prices don’t have to be set in stone, offer repeat clients discount, discounts for recommended friends, late availability specials and much more to make your property the one that they want to stay in!