Turning Your 2nd Property Into A Profitable Holiday Rental

What is the first thing that comes to your mind when you think about holiday rentals: A sandy beach hugging the blue ocean? The sounds of wild birds singing in the garden? A remote cabane in the woods?

While all these thoughts are appealing — and we’d love to pack our suitcase right now and spend some quality time in one of those dream-worthy locations —, when you consider holiday rentals as a landlady, you need to think in terms of profitability. Let’s be clear about one thing: Creating a profitable rental should never distract from the beauty and magic of the place. On the contrary, holiday rentals need to be appealing, comfortable, and convenient to attract tenants. But, as a landlord or landlady, you must also think of recouping the costs of purchasing a home and managing it.

Maximize the number of sleepers

A variety of factors can influence the rental costs for your holiday home. The most important of all is the maximum capacity of the property, aka how many people can physically sleep in it. That’s precisely why you want to focus on bedrooms with double beds or bunk beds whenever possible. It is fair to say that comfort and convenience should also be part of your calculations. There is nothing to gain in turning your rental into a giant dorm. However, replacing single beds with alternatives that allow for additional sleepers could double the headcount.

One thing to bear in mind is the number of bathrooms. Ideally, you want one bathroom for 2 to 3 occupants. So, if you are ready to increase occupancy, you should match the bathroom facilities too.

Add a smart home hub

Why not create a home away from home for your guests? A smart hub can serve a variety of purposes in a rental property. First of all, as a landlord or landlady, it ensures you can keep everything under control. A smart home system can keep you informed about any anomalies and issues before they can affect your guests. You can also leave the property to manage itself, using heating, light, and motion sensors. Therefore, your guests will always arrive in a perfectly heated and lit house, even if they arrive in the middle of the night. You can also use smart displays to check they have arrived safely or authorize access when you are not on the premises to welcome them.

Prepare a welcoming gift

Some guests need to travel a lot before reaching their holiday destination. Flight delays and traffic can postpone the arrival time. Put yourself in their shoes: They may be finally arriving in the middle of the night. A simple welcome hamper with enough for a quick snack and breakfast can put your guests at ease and help them relax. Most people bring their own toiletry products, so it’s no use adding full-size body lotions and creams. Instead, focus on introducing the local specialities with a handful of snacks and delicatessen from the region. Guests could also pre-order their hamper as they book, so you can be sure to get them something they’d like.

Are you ready to dip your toes into the holiday rental business? In addition to choosing the appropriate location and taking professional photos, holiday rentals need to focus on strategies that can increase booking costs. We strongly recommend improving headcount, smart tech, and your welcome package to make a difference.

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