Do you wish to rent out your property but lack a solid plan? If yes, then you are in the right place! Renting your holiday home or property could be immensely satisfying while at the same time very profitable. Thousands of property owners are already doing this. The success of letting your property is measured in terms of the income earned and the number of positive reviews and the occupancy levels. So, what are some of the steps you can take to run a serviced accommodation successfully?
- Treat it like it is a business
To be successful in renting your property, you have to treat it like it is a business. You should have a marketing and operational plan, not to forget a budget. You should also have targets for occupancy. Remember to track the expenditure with the help of budget and cash flow analysis.
- Market and promote wisely
You should choose the right agency to market your property. You can consider using an Airbnb Management Company, like Pass The Property. They market well and across a number of platforms, Airbnb, Booking.com etc. They also know what works and what does not. They also track the Return On Investment (ROI) for the property. They have some of the leading marketing channels for those who want to lease their property.
- Build a booking system
Having a robust booking system for your property will increase your potential to get more customers. Besides, it will demonstrate to your guests that you are a professional property owner. If you can’t develop your own booking system, you can use that of Airbnb Management Service Companies, Pass The Property. Their system shows a flow through the booking process and includes a rental agreement which comprises a set of Terms and Conditions. They have a professional system that will show the documents which you will send to your potential customers. They will also track progress of each booking across all platforms.
- Consider an Attractive Package
You should consider an attractive package for your guests. Remember that the guests choose the property based on the features and facilities that are available. You should ensure they are attractive to increase the number of your inquiries and the subsequent conversations. Remember to have a look at the photos of your property and ensure they are appealing as well as enticing. Make the guests feel they will enjoy their holiday at your property.
- Add value
Remember to add value to your property. This can be achieved by upgrading your facilities and your features. Remember to replace that old TV with a new flat screen one. Wi-Fi is a must, and Netflix would be an added bonus. You could also consider creating a gourmet kitchen. It is crucial to exceed the rising expectations of your guests.
These simple steps will surely help you to achieve a high occupancy level and perhaps allow you to increase your rental rates. Letting your property is a great decision that will have a positive impact on you. It is a great way to turn your financial leak into a money-making asset. In case you are wondering how you will achieve this success worry no more. Pass The Property is your answer to all your property renting and serviced accommodation problems!
Get in touch
To talk about this, or any other of our amazing properties, or if you’re interested in increasing your rental yield for any of your own properites, please get in touch today on 0333 301 0787 to see what Pass The Property can do for you.