Made a decision to let out property? It has all the attributes of a potentially successful holiday let. Now you have more decisions to make:
This is the second part of our advice guide on how to successfully earn income from a holiday home letting. To read the first part, click here.
Now decide on the following to get your holiday home ready
- Creating the interior: holiday guests are more discerning than ever. WiFi, multiple TVs, baths as well as showers and quality finishes will help sell your property (unless you market yours as a true “get away from it all” retreat – and even there, guests must feel comfortable). One of our owners took a year to renovate his Victorian groundfloor apartment in Llandudno, specifying quality finishes everywhere. His aim was to give guests something more luxurious than even the best hotels – view The Alderley here to see the result.
- VisitWales Grading: All grading schemes have their quirks, and a five-star rating doesn’t necessarily guarantee sell-out holiday homes. Yet a favourable grading gives potential guests an instant view on what they’re likely to experience. Together with visitor reviews, it’s one of your biggest selling points, especially when reinforced with good quality photography. Before you let, have an idea what level of grading you’d like to go for. Some requirements of a higher grade may not make economic sense to you, depending on your circumstances. Five-star ratings require a dishwasher, for example. Download VisitWales’ grading guidelines. An accredited agency such as North Wales Holiday Cottages can arrange this for you at a reduced rate.
- How you’ll manage your holiday home: Make sure you have the essentials covered. Key delivery and handover, cleaning, fresh towel and linen supply, maintenance and emergency repair, and any welcome packs or kitchen restocking that needs to take place. Being a popular destination, North Wales has an established and competitive “niche” industry serving the holiday let sector. If you’re not based locally there are local suppliers you can use. If your letting agency is local to the area they will be able to advise you.
- How you’ll market your property: You could choose to promote the property yourself. Many people start with family and friends but can easily find themselves getting sucked into “mates’ rates”. To broaden your reach and find actively-looking holidaymakers ready to pay your rates in full, you need a professional marketing agency. They will have the experience as well as existing marketing channels and customer databases to promote to. North Wales Holiday Cottages has 50 years’ experience – that’s a lot of know-how, and plenty of loyal customers! Agencies will present your property in the best light, with professional photography and text, descriptions that include the selling points holidaymakers are looking for. Some agencies don’t demand “exclusive” selling rights. In other words, you’re free to promote your property and book holidays too. They only charge commission on bookings they secure. So you’ll not be out of pocket.
In the final part of this series we'll cover the things you need to consider once the first bookings start coming in. Exciting stuff!
Click here to read the final part of the article
If you’d like free, impartial advice, call North Wales Holiday Cottages on 01492 582492 or email us here.