With interest rates set to remain low, and real estate still one of the best performing types of asset, more people are looking to buy a property with investment in mind.
Our sales team reports an increase of people looking for a property that can earn them an income – both in capital appreciation but especially rental returns. But how to ensure that you are successful in attracting holiday rentals in what is a fairly competitive business these days?
The key is choosing a property that is well located (for transport and airports) as well as one that is appealing to a large target market in that area – and is perhaps that little bit better than many of the rest.
Can you offer a something different, like cookery classes or bikes to borrow? Consider locations that offer year-round appeal (golf, mountains, cities).
You need to invest in presenting it and marketing it well – on the leading holiday rentals portals – and make sure you have a good management system in place on the ground to deal with guests and any problems that might arise.
Also, keep it legal: check out insurance, safety guidelines and any local restrictions on short-term rentals.