Exciting, challenging & worrying.....
These are just some of the emotions felt on the journey to buying a second home for personal or holiday rental use. Stress is another term frequently used. This does not have to be so, however, if you plan and adopt the right approach to the venture.
Below you will find a list of considerations that need taking into account before you start the journey and a few highlighted comments. We provide all the support you need in this process and help to eliminate the hurdles.
KNOWING WHAT YOU WANT OR NEED: It's surprising what people think they want and what they actually buy. Sometimes correct, often wrong. Asking the right questions initially prevents future problems.
SEARCHING: The obvious ways are all online, with "Onthemarket.com", "Zoopla.com", "RightMove.com" etc. but these sites do not have all listings especially holiday rentals who are always nervous of cancellations if their properties are seen on estate agents sites.
PROPERTY VISITS: Always difficult at a distance. Refining choice and even subcontracting the visits can reduce the time spent and isolate likely candidates.
PURCHASE AND FINANCE: Asking the right questions can avoid problems later and using the best services can streamline and get the best deals.
POST PURCHASE: Then the fun starts. Decking a home out correctly for rentals is a science-based on years of experience. Even the simplest things like bed types and mattresses can make or break a rental.
PRESENTATION: Whatever you do, this is a pivot between that few fleeting seconds of online consumer attention that secures the interest. Photography is the number 1 requirement to get the best results online. You may have to spend hundreds of £'s on a home and furnishings. Don't skimp on bringing people to see the investment.
GETTING BOOKINGS: This is a hot space and many agency will clammer for your property. The question is which should you choose and why. Or should you go it alone? In which case, where to market your home, what software do you need, how to account for it, how to take payments and more.
MANAGEMENT: Often the Achilles heel of rentals and companies. Great cleaning on turnarounds, overall management and problem-solving is incredibly important. DIY or use a company?
ALL THE REST: There is a lot e.g: taxes, dealing with guests, door locks, monitoring devices, commissions, communications, the list is endless.
SECONDHOMES CAN ASSIST YOU ON ALL OF THE ABOVE. WE HAVE SIGNIFICANT EXPERIENCE ACROSS THE HOLIDAY RENTAL SPECTRUM