DIY OR USE AN AGENCY?
One of the second home challenges, when a property is rented, is how do I successfully generate bookings and ensure the experience is hassle-free and profitable?
This is very much a personal decision and comes with a lot of questions related to your financial situation, your personal position both in terms of time, where you live, your experience with technology, your capacity to deal with guests and operational management control. We cover some of these points below:-
Things to Consider
There are a few
Second-home holiday rentals can be rented in one of several ways:-
a) Use an agency to market your home and you organise the cleaning and maintenance yourself.
b) Use an agency to market your home and they organise all the cleaning and maintenance with their own staff
c) Use an agency to market your home and they organise all the cleaning and maintenance with a third party company, who could also be selected by yourself.
d) Do the marketing yourself and organise all the cleaning and maintenance with a third party company or by yourself.
A lot to be considered
There are hundreds of agencies (also known as managers), some small and local and some large and global but with also with local offices. They all rely on one thing: properties to rent. Homeowners are extremely important. Some offer a full service which can be attractive to a full "hands off" investor or an owner who lives a long way from their second home. Some agencies just offer marketing and can leave the owner to take care of the rest. There is, of course, a big difference in fees as all companies will expect a commission on each booking. Some can be as low as 15% and some as high as 35% just for the bookings and marketing, excluding cleaning and linen changes. A few agencies provide guaranteed fixed lease fees too.
DIY - GO IT ALONE
Things to consider
The three problems for a new owner are a) How to get bookings b) How to deal with guests and in particular problems c) How to manage the cleaning and linen change over and maintenance.
Please download our pdf above (coming soon) to read how to review your options and to assess the best personal route yourselves. Until then please feel free to contact us.