As the market for self-catering holidays grows, so does the demand for accommodation.
More and more people are choosing to holiday in cottages simply because they are a home away from home and provide a sense of freedom that you don’t get when staying in a hotel.
Many people let cottages for holiday makers to stay in, because it can be quite a lucrative venture.
If you are considering letting a cottage, firstly you need to work out whether you are using a property solely for renting purposes, or whether you just plan on renting it when you are not occupying it these are two very different endeavours.
Whether your property isn’t being used enough or if you bought it for the future, it’s absolutely no use sitting there not being used turn empty property into excellent profit!
Think about your price range carefully, if it’s too low then you are missing out on potential return, but if it is too high then your cottage may be as empty as it would be if you weren’t renting it. Take into account the things it’s going to take to run your business, because it is a business. Utility bills, cleaning services, maintenance, basic supplies, expensive extras (if you’re targeting the luxury market) and much more. This will help you decide on a price range.
If your cottage has something special, is decorated in a quirky way or is located in a unique spot then play on this when you market it. This is your USP â€“ if you have found a niche in the market then utilise it as much as you can because this is what will differentiate you from the thousands of other holiday cottages out there.
If you decide to let your cottage, then going through an agency may be beneficial for you. Agencies have the expertise and contacts to allow you to make the most out of your business and some will offer free photography, advertising and marketing within your fee. Some will also provide caretaking and cleaning services for you.
Letting your cottage can be a great investment for you and your family, now and in the future. Many people treat this venture as their pension scheme. Once you retire you could continue to let your cottage and use the income as a substitute for your pension or sell the property and use the money as your pension for as long as you can.