postheadericon Things to keep in mind while renting home to tourists

If you want to rent your holiday home to tourists, it is important to set the rental rates before putting your holiday home on the market. If you want to manage your business personally, it’s up to you to set up the rent. Doing it properly is essential to get abundant requests and reservations. This simple guide can be used by those who have never rented before or by those who are trying to position themselves competitively on the market. We will also give you information on the best way to show your rates when you publish online.  In order to know more about oak bay luxury homes you may always go for the official websites.

Discover the Competition

There are factors that can attract tourists to a particular property when they are booking their vacation. These are variables that can affect rental income. We advise you to pay attention to property advertisements similar to yours on the internet and take a look at the rental prices of other properties. Finding properties similar to yours will give you a realistic idea of ​​how much your rent income will be. The comparison points include

  • The position
  • The number of bedrooms
  • The type of property
  • Special facilities (such as the swimming pool)

If you have fittings or fittings you may be able to increase your rent income even further. We suggest looking at properties similar to yours. Try and find out how many properties in your area have a similar standard. By comparing your property with vacation home listings, you may find that you own a luxury property that can be rented at a higher price.

The points of comparison, to be careful of, include

  • Type of property
  • Special features
  • Luxury facilities
  • Maintenance and decoration standards
  • Proximity to hot spots or in a highly requested area

It is also worth taking a look at the areas that are comparable to each other, such as an area that targets a similar market, and has properties similar to yours (for example, places similar to a half hour car), to confirm your results. Note one of the most common mistakes that owners make when they set the rent for their holiday home is to set prices that are too high or too low. If you set a rent too high It is unlikely that someone will book a property too expensive, especially if they have the opportunity to book a solution, practically identical and not far away, unless. Sometimes it is possible to increase the price if you offer special facilities or services to travelers. If you are thinking of doing so, put yourself in the traveler’s shoes and ask yourself “this is an additional cost for the guests?”.

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