Investing in property to let out during the holidays
Renting out your property for the upcoming holiday season is an ideal way to maximise on your return for your holiday home. We’ve put together a quick guide for you to consider when preparing your property for guests including how to price, maintain and insure your holiday home.
Pricing your holiday listing
Even though it is the festive season and holiday homes are in high demand, take care not to overprice your listing in an attempt to secure a good income. Pricing too low can also give the impression that your property may be sub-standard, so you’ve got to get it just right!
Consider the following when pricing your holiday home:
- Where is your property located? Is it a tourist hotspot, a quaint village, near a beach or other attractions?
- What features does your property boast? List any unique selling points such as boutique-style décor, ocean views, hot tub, swimming pool, pet-friendly environment or modern/recently renovated rooms.
- Who is your target market? Is your accommodation suitable for a couple, singles, families or for younger, budget-constrained guests?
Make sure to search for properties in your area to analyse what the pricing is in relation to the features and amenities that those properties offer.
Furnishings and maintenance of your holiday letting
When it comes to furnishing your home for letting out, take a step back and put yourself in your guests’ shoes. People who are on holiday want to relax and put their feet up without the worry of damaging any items. Choose furniture that’s easy to clean and durable and all appliances should be simple to use and well-maintained.
As you may be hosting a few guests from abroad, consider installing an air-conditioner that would help them adjust the home temperature to their ideal comfort level.
Test the property
The best way to test the readiness and quality of your holiday home is to offer a test stay to your friends or if it’s not your permanent residence, to stay over yourself and pretend to be a guest. Complete every step from booking the home to checking out. This way you can decide on whether the property is suited for a long, festive stay or if it needs more work done.
Where can you list your holiday home?
Once you’re happy with the quality of your property and are ready to have guests over, consider listing your property online for the best reach. Prepare the following information and assets for online publishing of your listing:
- A description of the property
- High-quality images and videos – consider hiring a professional photographer
- Contact information
- Any need-to-knows such as thorough directions if your property is not particularly easy to find
- Links to reviews from previous guests
The following websites are considered great for listing holiday homes in South Africa:
- Airbnb – once you receive a reservation, a 3% fee is charged
- com – A 15% fee is charged
- Facebook Marketplace – free to list the property
- SA Venues – a referral fee is charged per reservation. The fee will be calculated once you list your property.
- Afristay – free to list the property
- Tripadvisor – 3% fee charged per booking
Investing in a holiday property with SA Home Loans
If you don’t yet own a property that is suitable for letting, consider adding an investment property to your portfolio.
There are a number of home loan options available to you such as our 20 year Variable Home Loan, 30 Year Home Loan or Edge Home Loan which is a unique product to SA Home Loans where only the interest is payable for the first 3 years.
For more information on our home loan products, contact our expert consultants on 0860 2 4 6 8 10 or fill out the Contact Me form via the tab at the top of our website.BACK TO BLOG HOME >