It can feel like a big step deciding to rent your property for short stays, especially when you’re unsure how to get started, prepare your home for guests, handle check-ins/outs, and everything in-between.
To make things a little easier, we’ve created this guide to renting your property for short-term rentals, so you know exactly what to expect when listing your property online.
Why is now the perfect time to rent out your property as a holiday rental?
Over the last 12 months, life has been a little crazy. But now is the time to enjoy where we live and explore places we love to visit – as well as those we’ve never been before.
This means that more and more Brits are opting for a ‘staycation’ and are holidaying in the UK. They’re seeking adventure and secret hideaways that give a regular weekend all the excitement of a trip abroad.
Taking the plunge to rent your property as a short-term rental is exciting, but when you’re getting started and going it alone, it can feel a little daunting to get set up and running smoothly. If you’re feeling a bit overwhelmed, then this guide has all the info that you need to know!
What are the benefits of short term letting?
If you have a second property, choosing to let out your home can very quickly deliver various benefits. Unlike a long-term tenancy agreement where issues with tenants can arise (both in finding them and keeping them), deciding to rent your property as a holiday rental can maximise your income and give you the flexibility also to use your property when you wish to.
Remain in control of when your property is available
This means that if you fancy a weekend away, you’re able to block out your property’s calendar from potential guests and enjoy your home. Whilst, if you were to find full-time tenants, you would be unable to use your home for a weekend away, special occasion or if you simply needed a place to stay while travelling or working.
Increased revenue
Unlike a standard £XPCM, guests will pay higher prices for a weekend away compared to the costs per calendar month.
Plus, depending on the location of your property, there are plenty of opportunities to take advantage of additional income. For example, when local events draw more visitors to the area.
Flexibility
If you’ve been considering selling your property but you’re waiting to see what the market does, or you’re not quite ready to sell yet, then a short term rental is a great option to make some money from your property in the meantime—offering you the flexibility to hold onto your property and sell it when it suits.
The benefits for guests
As well as lots of benefits for you as a host, there’s also lots of reasons why someone would choose a short-term rental over a long let. Perhaps they’re renovating their home over a few months or are visiting an area for a few weeks, making their stay-away more affordable than a hotel stay.
A home away from home
When they travel, some people want all the comforts of being at home, and this isn’t something a hotel can offer. Whether it’s a fully-fledged kitchen for some baking when the mood strikes or the space to entertain friends & family that isn’t a sterile hotel room, short lets offer a home away from home.
Privacy and space
Similarly, a family will find themselves feeling cramped very quickly in a hotel room. Especially if their home is being renovated and they’re used to a larger space. A short term let gives them the full use of a property and the privacy of being at home.
Smooth check-ins
Whether you use a key lock or greet your guests in-person to manage your check-ins, the process can be much more streamlined than a hotel. Guests aren’t confined by check-in times and restrictions and instead can choose a convenient time that works with their plans.
Flexibility and cost
If a guest is looking for a place to stay for several weeks or even months, but aren’t looking to commit to a long term rental, then the cost of staying in a hotel or bed & breakfast would quickly mount up. However, with a short let, it is much more affordable whilst giving them the flexibility to carry out their plans.
What happens when you rent your property with Places To Be?
If you’re interested in opening up your property to future guests, whether it’s for weekends away or medium lets of up to six months, we know it can seem overwhelming at first.
But don’t worry, here at Places To Be, our team can manage the entire process for you! From cleaning and greeting guests to marketing your property across multiple platforms.
Getting your property ready
We’ll visit your property to get to know you and what your property needs. We can guide you on everything from interior design and amenities to decorating and cleaning.
Marketing your property
Our team work endlessly to maximise your potential income, getting your property in front of potential guests with optimised listings across multiple booking platforms – from AirBnB to Zoopla. Plus, we’ll also list it here on our very own website.
Housekeeping & Maintenance
A clean and tidy property regularly comes up on a guest’s list of priorities, especially after the last year! We use a thorough checklist process to inspect, clean (including disinfecting) and reset your property before new guests arrive. We’ll even take care of restocking any guest and cleaning supplies too.
Plus, we can take care of maintenance services from waste management to boiler servicing.
Guest experience
It’s the little details that add up to an excellent experience for your guests. From welcome gifts to parking permits, we can cover it all to ensure your guests leave happy and eager to return.
Pricing & Occupancy
Using a dynamic pricing tool, we are constantly on top of the demand for the area and properties like yours. We work hard to ensure that your property is filled with happy guests to maximise your revenue. You’ll always have access to your client calendar, so you’ll know who is staying and when – As well as monthly updates on expenditure, occupancy and most importantly, income!
Your peace of mind
Ultimately, we want to make sure everything is taken care of for you. Our vetting process helps to ensure high-quality guests and a security deposit is taken on every booking. We inspect your property after check-out and will address any issues immediately. We are constantly striving for 5-star reviews and monitor guest feedback.
Ready to host your property with us?
There’s been a lot to contend with over the past 18 months; however, the future’s looking bright. If you’re interested in putting your property in the short term rental market, then get in touch with our expert team at Places To Be.
Contact our team today if you’d like to chat more about what we can do for you and your property. We’d love to walk you through all your options and your foray into the world of short term letting.
