Have you considered Holiday renting your property? – if so here are some things you need to know…
Please Watch our short video as our Property Managers walk you through.
When holiday renting your property, there are a few key decisions you’ll have to make.
The first and most important is whether you want to look after the property yourself or use an agent.
For owners who have a lot of time, are keen to have a personal involvement and looking for a hobby, managing the rental yourself might be the way to go. Your property will need to be spotlessly clean and fastidiously well maintained. It needs to be attractive so catch the eye of guests who have a lot of choice. And of course you need to find your guests which usually means making your own website with professional photographs and enticing descriptions. You might choose some portal websites also but these come at a cost of course (some charge booking fees, most charge percentages). You will need to manage your reservations carefully and spend a fair bit of time chatting with your guests before their stay, during their stay and sometimes afterwards too. You will be responsible for immediate maintenance issues and even those dreaded after hours call outs. And you will need to meet and greet with keys in hand! You will need to consider some legal details such as pre and post inspections, security bond, written agreements with your guests. You should source the correct insurance specific to short term rentals – this is important.
Other owners want to enjoy a hassle-free approach and prefer to use a professional, local rental agency. This takes the pressure off them. In our business we handle the marketing and this is everything from on-line bookings via our stunning website, site optimisation strategies to industry promotions, vet potential guests at the reservation stage and manage guest arrivals & departures. All maintenance issues are sorted out by our maintenance manager, cleaning is coordinated by our housekeeping manager and our Inspectors check gardens and pools as well as cleaning and maintenance prior to our guests’ arrival. Everything is overseen by our Property Managers. Sometimes guests need our assistance and sometimes in the middle of the night. We are available. Guests feel comfortable talking to us about difficulties that we can sort out, rather than chatting to an owner directly and feeling so embarrassed, they simply chose not to return. Most of the properties we holiday let have a high recurrent clientele, evidencing that guests are happy.
Holiday renting your property is a great way to earn income, while having the flexibility to use it yourself, when you want to. There are tax deductions available which are always helpful. And of course they cover expenses that you have regardless of whether you rent or not, such as Council rates or if you have an apartment, Body Corporate fees.
If you would like more information please contact us today, we can offer your some guidance and give you our thoughts on the likely income achievable for you.