Tips on Renting Your Overseas Property

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Renting Your Holiday Home

When you rent your holiday home, there are a few factors that you should consider. If you are new to renting property, and don't know about these aspects, read on. Here is an easy to follow guide to renting out your property abroad:

Furnish the house

You can get a higher rent on your holiday home if it is furnished well. A home with classy fixtures is likely to attract more people than other properties. Go for furnishing and colours that are neutral. Furniture should ideally be of medium to high quality, and preferably something that does not require a lot of maintenance.

If you want to add new features to your holiday home like a hot-tub or a pool, compare the outlay costs with the extra rental income that the additions are likely to bring in. The new additions should not clutter the space. They should complement existing fixtures and enhance the appeal of your holiday home.

There are a few essential items that every house should have - first aid kit, contact details of the local emergency services, a safe for valuables, central heating or air-conditioning (choose based on the climate) and swimming pools. Including a washing machine, ironing board and iron, hair dryer and fresh linen will make your holiday home more comfortable to live in.

Responsibilities to take care of before renting

Find out whether you are legally permitted to rent your property short-term. Enquire with the local authority or the president of the community where your property is located. Most complexes and communities have rules that residents (even guests) should be aware of. Read up on them and prepare handouts about the rules so your guests understand their responsibilities.

Take out liability insurance that will cover you against any damage guests may cause during their stay. Note details about tenancy, reservation, and terms and conditions in a booking contract. Check whether your property follows the security measures that all houses in the community are required to abide by. Find out if you have to adhere to a minimum vacant period clause.

Deciding the price

Based on the accommodation you plan to rent and its location, identify the market it will appeal to - it could be to large families, small families or couples. Enquire about the prices being quoted by owners of properties similar to yours. Some of the prices to find out about are - seasonal prices, additional charges, charges per week, discounts, special offers and short term leases. You can then decide prices based on fatcs.

In cases where a customer cancels at the last minute, you can promote the slot as a special offer. Ensure that you clearly state that this is a special price, so people know that your holiday home rent is generally higher. When deciding the price, keep in mind the money you require to break even. This will allow you to make changes to your prices when you offer deductions or add welcome gifts.

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