How much work is holiday letting and how much involvement do I need to have?
Marketing your property online can be a lot of work and, whilst it is easy to generate an income from a property, most owners operating their own marketing channels do not maximise their income or optimise the performance of the holiday let.
Answering enquiries, responding to feedback, processing bookings and security deposit payments can all be time-consuming, whilst setting, adjusting and monitoring prices without the data from a large portfolio of similar properties is extremely difficult.
Paying a commission to a holiday letting agent will, of course, increase your overheads, but an established company with a good reputation will almost certainly be able to generate a far greater level of income for you, and will handle every aspect of the enquiry, sales and booking process so you don’t have to.
Managing housekeeping yourself can certainly help to keep costs down. However, before making this decision, you should always consider every aspect of the role and the associated costs. Having bedding and towels professionally laundered can be costly, whilst being available to clean and ready your property 7 days a week can be a bind.
At StayCotswold we have partnered with several trusted housekeeping partners that will charge a fixed fee for a changeover, where time, laundry and cleaning products have already been factored into the price.
It is sensible to assess your personal commitments, the costs and the value of your time before deciding whether holiday letting is for you and whether enlisting the services of a professional agency is sensible. It is also a good idea to talk to a reputable holiday letting agent before making a final decision to establish how their services are structured and whether there are any hidden costs.
If you’re looking to generate a second income from a property, a holiday let could be the perfect investment. You can make a healthy profit and have somewhere for your family to escape to for weekends and holidays.
To find out more about our services you can call 01993 259444 or email owners@staycotswold.com
