If you want to rent your holiday home to travellers, it's important to set your rental rates before you put it on the holiday rental market.
We advise reviewing similar properties advertised on our site and have a look at the prices that they rent for. This will give yourself a realistic idea of how much rental income you could earn. Points of comparison include:
- Type of property
- Number of bedrooms
- Number of bathrooms
- Facilities offered
- Standard of upkeep and decor
- Proximity to tourist hot spots
It is unlikely that anyone will book an overpriced property, especially if they can get something identical in the same area for less. Sometimes you can increase your prices if you offer a special facility or service to travellers. However, if your rental rates are too low, travellers might assume that there is something wrong with the property and that the owners are trying to cover it up.
We also advise setting your rental prices for the different seasons. If your market is relatively year round, then you may only need to charge two different rental rates. If your market is seasonal then set higher rates during peak season, and lower rates off season to attract fill up guests.
Wherever your property, you should always check the school calendars and charge extra for the summer break. Off season charge extra for other school holidays such as Christmas, Easter and the spring and autumn half terms. If you market your property to travellers from outside the UK, you may wish to check the school holiday periods in these countries too. It’s also acceptable to charge more for special days that make your area in demand, such as festivals or events.
A Complete Guide to Marketing Holiday Homes Online