There are many reasons why people decide to set up and rent out their investment property as a holiday accommodation business. It could be a means of paying the mortgage on a retirement home prior to retiring. It also could be a way to provide economic stability when the property market is in a lull, turning a burden into an asset and maintaining your property until you’re ready to sell. Or it could just be an investment and an external source of income for you and your family.
The main difference between renting to holidaymakers rather than long-term residents is you exclusively have control over market costs and vacancies. Plus, at the end of the day it’s still your home. You can’t kick your tenants out for the long weekend, but you can make sure no one books it. Your presentation and location will determine your peak periods, which can all be priced at your discretion. And if you suddenly decide to sell, you have a property ready to market that is beautifully staged with no need to give notice to tenants.
Property is one of the better investments you can make and the South Coast is fast becoming one of the most desirable investment regions in NSW. Put these two ideas together and you will find there is a relatively infant market, with money ready to be made. So whether you own an existing property or are looking to break into the market, there is currently a niche waiting to be expanded.
Setting up a holiday home can be a very stressful venture without the right expertise, especially if you are time poor and don’t have the experience to establish or manage the property. Getting in a team of experienced property stylists to do your holiday home fit out and having a dedicated holiday rental agent is two of the best investments you will make in your holiday rental business. Property Stylists can have the fit out done in a matter of weeks to get you up and running and accepting bookings. They have the knowledge and expertise of what holidaymakers expect and what furnishings are the best for the holiday rental application. The way your property is presented in the online photos and when guests arrive and subsequently leave a review is key to achieving strong occupancy and a premium nightly rate year round.
Another key factor is having an experienced holiday rental agent who can market your beautifully presented property to their vast database of vetted holidaymakers. They will help you not only market the property but also manage it to keep it in peak condition and turning over so that you can enjoy it as a successful and profitable business venture.
?Article provided by South Coast Property Styling www.southcoastpropertystyling.