Rental Management for Overseas Property
Once you have managed to find your perfect holiday home, one of the important decisions that must be made is whether to save the holiday bliss for your own exclusive use or make the most of your property as an investment opportunity by renting it out.
When renting out properties as holiday lets, it is important to decide how long you wish to rent out your property for and what level of income you would like to receive from it. Linked to these decisions are questions concerning legal and tax issues in your property’s country of origin, maintenance issues and the marketing of your property.
Marketing and advertising properties can seem like a mammoth task, but there is a plethora of help and advice to ensure that renting your property online is a beneficial experience. You can advertise your property through Rivermead Global where our partners will market your property for you. Rivermed Global are also offering assistance on long term lettings especially in Egypt.
It is essential to make sure that your property stands out from all the others. This is particularly important in locations where there is much competition and our team can make sure enquiries are converted into bookings.
Top 10 Rental Management Tips
- Understand your market:
Know your target audience and the prices of similar properties as well as alternative accommodation in the area.
- Advertise your property:
Advertise where your property will be seen. Reputable holiday rental websites are a cost effective way to get the exposure you need. They can also manage booking enquiries which can save you time.
- A professional service is key:
It is important to respond to all enquiries within 24 hours or you risk losing the booking. Don’t give a potential customer the time to change their mind.
- Radiate a holiday vibe:
Professional photos, detailed descriptions of your property and its surroundings really help set the scene.
- Be flexible:
Put some holiday rental rules in place such as week-long minimum stays during the peak seasons. It is important to be flexible at other times to profit from those taking weekend breaks and cheap flight deals.
- Rental contract:
This is an absolute must. Make sure a contract is in place with your customers to ensure that both parties know what to expect and are aware of the rules!
- Have a guest book so they can write down their holiday experience for other guests to see.
- Furnishing for your rental property:
Furnishing your property is crucial as it can often make or break someone’s holiday and a well furnished property is a key to repeat bookings. If your guests like your property they are more likely to return and also recommend to friends and family, which can make your life easier on the advertising. Most people think “it’s a rental property” I will put cheap furniture in, big mistake as the furniture is usually badly made, cheap looking and won’t last long. You will end up having to take your property off the rental market while you refurnish which could cost you thousands on flights out, replacing all the furniture as you can’t find matching items etc… it’s false economy. Furnish with solid and robust furniture which can withstand a lot of wear and tear without looking old and damaged, also think about which items your guests may need, to make their stay as comfortable as possible. Ensure your holiday home meets health and safety requirements. We offer a great furniture service if you are looking for furniture in Cyprus or Egypt.
- Have a local contact:
It is beneficial to have someone to ‘meet and greet’ your guests. It is important to have a cleaner to make sure your property is clean for when your guests arrive and it is also good to have someone available locally to deal with any problems. It will be a weight off your mind if something needs sorting out.
- Little extras can go a long way:
We advise to include a welcome pack of basic information on local attractions, activities and transport.
We have staff on the ground to take care of the rentals and we will be charging a 10% management fee per month.
If you would like more information on letting your holiday home, contact us today.
Looking for Holiday Rental?
Well Placed Apartments, one of Rivermead Global’s partners are an independent rental company who are becoming one of the best in Egypt for renting out private properties through major tour operators and their own website, they also cover Turkey, Cyprus, Tunisia and the USA. Please click on the banner below to visit their website.