Owning a holiday home is a wonderful way to enjoy time away whenever you want, but what do you do with your holiday home during those times of the year when you can’t visit?
One way to make the most of your holiday home is to sublet it and enjoy a bit of revenue throughout the year. Then, when you are not holidaying, you can take advantage of a rental scheme and let your property generate extra income.
There are many benefits to subletting, for example, covering your running costs, but there are a few things that you need to consider as well.
The amount of revenue you can gain from subletting depends on a few things:
You have first to consider how much you are personally going to be using your holiday home.
You will certainly not be able to sublet it when occupying it – Think about how much time you will be staying there each year, and you can get a better idea of how much you can gain from subletting.
How much will you use the property personally, and what time of the year will you release your unit for holiday bookings?
The first rule of owning a property is location. Therefore, the amount others are willing to pay to sublet your holiday home depends on its location and what specific amenities are nearby.
Suppose your holiday home is located near a lake, and there are many different water activities available. In that case, you may generate a higher income for it than for one in a secluded area with fewer amenities.
Think about your location and what specific features are available for that area.
For property owners that use rental sites such as Airbnb – save the hassle of maintaining your property while you are away with an Airbnb management company. One such company in Birmingham is Hello Guest. See how much money you can earn from your Airbnb rental property here.
- Professional cleaning and laundry services
- Hotel-quality toiletries and essentials
- Guest review management and inventory checks
- Property maintenance and renovations
- Performance updates
Find out how you can make more money from your Airbnb property, here.
The Home Itself
Your holiday home, how many bedrooms it has and how well kept it is will significantly affect the amount of revenue you can generate. In addition, it will need to be in relatively good shape for others to want to rent it out for their holidays.
If not, you may need to do a few repairs before offering it for subletting.
So, how many bedrooms does your holiday home have?
There are several benefits to subletting your holiday home and many agencies that can help you to keep it occupied throughout the year.
Understand that there is usually a commission plus VAT charges depending on the agency you use, and these charges will cover several needs, from marketing your home to maintenance.