Costa Calida Holiday Lettings.co.uk & have compiled the following guide to assist you in the smooth running of your property rental business, helping you to maximise your property revenue potential, with the minimum amount of effort Whilst every care has been taken to ensure the accuracy of the information provided, we do stress that this is simply a guide to property rental management, and in no way a substitution for your own detailed research.
Laws regarding property rental and taxation issues vary from country to country and it is essential to confirm your legal and fiscal obligations for the country that your home is located in, before you commence letting your property
What should I include when furnishing my property?
Please make sure you have adequate insurance cover whilst the property is unoccupied, or during periods when the property is let as a holiday home, is not generally available under a standard household policy. However, as these insurance policies are specifically designed for Spanish holiday homes they include cover for these periods There are some specific distinctions between owning a Spanish property and your main residence; therefore you need to have an insurance policy which takes these into consideration
Take a step back and keep in mind that you are running a business. No matter what your budget, try to ensure that your fixtures, fittings and furniture are robust, easy to clean and of the best possible quality. Try not to include sentimental items (unless you have a lockable area in which to store them), as they may unfortunately be broken.
Try to replace any items that are broken as quickly as you possibly can. General furniture & flooring; this needs to be robust and easy to clean. Wooden or tiled floors are an excellent idea and will save you money in the long run. Washable throws for soft furnishings are more hygienic and easier to replace than the soft furnishings themselves. Kitchens Dependant upon your budget, aim to fully equip your kitchen.
Take a look around your own kitchen and consider everything that you would wish to have at hand. A dishwasher, microwave, washing machine and tumble dryer are always desirable, but remember, some of these items can be costly to run for large groups of guests. If providing all of these items, remember to reflect this cost in the rental charges.
Ensure that the entire kitchen area is easy to clean. When considering cutlery, crockery, glassware and other kitchen equipment, make sure that there is enough for at least double the maximum amount of persons staying. Making sure that you have ample pots, pans etc are that they are sufficiently big enough to cope with the job in hand Bathrooms; Ease of cleaning should be your main factor. A mirror and an extractor fan are desirable, if at all possible. A basket for dirty laundry shows that you have considered the small, but important points. Nobody likes the look of a mouldy shower curtain, so try to ensure that such items are cleaned or replaced regularly.
Provide a comfortable, good quality bed with freshly laundered linen where appropriate. Think about providing bedside tables, lamps and adequate storage and hanging space to make your guests life more comfortable during their stay. Clothes hangers are a good idea too.
Will you provide these or will your guests be expected to bring their own? If you do supply the linen, consider the cost of laundering after your guests have departed. Make sure that every bed has at least two sets of linen, so that you have a spare set for changeovers, and there must be a good supply of towels, table cloths, kitchen cloths/sponges etc, if applicable to your particular rental property Outdoors it is always a good idea to provide outdoor furniture if at all possible, along with a barbecue, and washing drying facilities if the outdoor space permits.
Gardens should be kept in good order and easy to maintain. Think about the safety of your guests and whether you may need to erect fences to keep small children and pets in, or perhaps you may need to incur additional costs to comply with relevant swimming pool safety standards etc Sundries the property should be lightly furnished with home comforts that will suit all tastes, i.e.; books, videos, games and so on. Be careful not to over furnish, remember that although this may be your home for a certain amount of time throughout the year, it's also your business.
What should I include in the information pack? An inventory of furniture and equipment (including condition) is a must, as this will enable you to prove their existence should anything go missing after a rental. A sample inventory page is available on Rental management documents.
A user guide showing how to use any equipment etc, i.e.; the best way to use the hot water and heating system, how to light a fire or how to use the cooker. This will not only ensure that your guests have pleasant stay, but will help to reduce expensive equipment breakages and unnecessary fire risks. It may also result in lower utility bills! Safely stored candles and matches are always a good idea in the event of a power cut. House keeping including general information on points like rubbish disposal, noise restrictions, emergency services and a twenty-four hour contact number.
Local information is always useful, such as how to find the following: Chemist, hospital, supermarket, restaurant, entertainment and perhaps the local tourist information office Top tips Keep furnishings simple and avoid clutter. Ensure the property meets health and safety requirements, but consider wow factors which will give your property the edge Dress your property. Great pictures are essential - prepare each room, set tables, etc., and include pictures of outdoor space.
Provide testimonials from past guests, too Ensure the price is right. Know your target audience, research comparable properties and run offers to attract off-peak travellers Be prepared for bookings. Have a rental contract, keep track of all dealings in writing and have policies for damages, refunds and cancellations.
Reply promptly to enquiries and keep your online availability calendar up-to-date Have someone available locally to meet and greet clients, sort out cleaning and changeovers, and deal with problems. Go the extra mile. Include or supply a welcome pack of goodies and provide a file of local information with maps, nearby attractions and restaurants. See if you can get discounts from local suppliers for your guests - e.g., 10% off watersports equipment hire - in return for recommendations
Owners are advised to take advice on their taxes from a qualified tax accountant or consultant. Costa Calida Holiday Lettings.co.uk does not advise on taxation.
Some countries have legislation specifically relating to holiday rental properties and this changes at different times. It is important that you identify exactly what is needed by way of licences in your location and continually review such legal responsibilities to ensure that you are operating within your areas legal framework