Long Term Holiday Rentals: A Short Guide
Owning a property and using it for short term and long term holiday rentals is an excellent way to generate income and maximise your return on investment. While short term holiday letting is a popular strategy, have you ever considered the benefits of using your property for long term holiday rentals?
In this blog, we’re exploring the benefits of using your property for long term holiday letting and how this strategy can increase your income.
The Benefits of Long Term Holiday Lets
High Occupancy Year Round
Using your property for long term holiday rentals out of peak season can be a transformative investment strategy. In peak season, Airbnb properties will likely see high occupancy due to the volume of people visiting the local area who are looking for a home-away-from-home. This leads on to give you an increased and steady income for a large portion of the year. But, what about those out of season months? By opting to promote your property for longer term holiday rentals up to 1-month, you’ll attract people visiting for corporate stays or for work, increasing occupancy and therefore your income!
A Reliable Income Stream
Unlike short term holiday lets, long term holiday rentals will provide you with a consistent income. With a guest in situ for a longer duration, you have a guaranteed income for a longer period of time that means you can better rely on the income coming from your property.
Maximise Your ROI
By keeping your property well occupied, you are guaranteeing yourself a steady income from your initial investment. While you won’t have the flexibility of using your property so frequently when letting out for long term holiday lets, you will maximise the return on your investment in your property and enjoy a steady cash flow.
Potential For Property Management
Whether it’s managing short term or long term holiday lets, the management can become a full time, 24/7 job. So you might want to consider a holiday let management company like Grandeur Property. As experts in property management, we understand the time and frustrations that can come with looking after a holiday let.
By hiring a specialist holiday let management company, you can delegate all the day-to-day tasks that take up your time. From guest communication, cleaning and maintenance, to marketing and listing your property. We can take care of everything for you, giving you back time, money, and freedom.
Choosing to run your property as a long term holiday rental has a great number of benefits, from maximising the ROI of your property to increasing your cash flow. While this could mean your property is occupied for most of the year, the benefits to your income and time are ten fold!
If you’re looking to use your property for short term or long term holiday lets, let us help you explore these investment strategies for maximising your income! Contact us today to discuss your property, requirements, and how we can help.