holiday business advice

Owning a vacation rental business can be profitable, rewarding and exciting, providing that lettings owners maintain an eye on the changing nature of the market. It’s now more important than ever that owners of vacation rentals understand the demand that is out there in order to maximize their ROI.

‘During last year’s recession we saw growth in the sector, much of which was in France, Europe.’ says holiday lettings expert Wendy Shand. ‘This suggests to me that the vacation rental market is not only growing but is positively buoyant, despite the economic downturn’ she adds.

France remains a firm favorite when it comes to holidaying in Europe which is reassuring for those who have invested heavily there, what has changed though is the nature of the demand, the competition and the routes to market. Owners who have been in the business for 5 years or more say that it was easy to rent out their vacation properties early on but the last 3 years have been far more challenging. For many though, the money that they derive from their holiday let is really their bread and butter so it’s vital to get it right. So how exactly can house owners improve their chances of creating a very successful holiday lettings business?

I think that the first step is to know whether your holiday rental is a business proposition or a love affair. If it is the former and it needs to make you money then you need to treat it as such and manage the demands of the market. If it is the latter and you want to keep your taste in interior design or sofas then you may have to make do with a lower rental income.

And the market has changed very much. The days of bring your own sheets and towels and ‘trés rustique’ being a euphemism for something not very charming have long gone. Market demand is following the ’boutique hotel’ trend and is after something as comfortable if not more comfortable than their own homes so houseowners are well advised to bin ‘granny’s old sofa’ and invest in modern furniture and inoffensive colors. The Provençal-style rag rolled paint effects from the ’80s are offputting and you’re much better off with muted colors, preferably from an upmarket range.

Clever house owners are keeping on-trend and are creating a boutique gite which is complete with the fluffy white towels, high quality bed linen and the luxury toiletries. In doing so, these marketing savvy owners are keeping ahead of the competition and delivering added value for their customers which is very appealing in today’s market.

Wendy Shand started her business when her two year old son fell into an unenclosed swimming pool whilst on a family holiday. Wendy spotted a gap in the market to provide families with baby friendly holidays.

Wendy also gives holiday lettings advice and offers a free business guide to help fill those empty weeks.

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Filed under: Certified San Diego Home Inspector

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