Journal
How to Set up a Holiday Let Business
Setting up your own holiday let business can be such a rewarding experience however, there's a lot of things you need to consider when starting your journey. First, you must think about the type of property you want to purchase, how you’re going to decorate it, how much involvement you would like and how you would like your property marketed. We have created a helpful guide outlying the most important things to think about when starting your holiday letting journey...
Is it worth the investment?
Absolutely! Even after the ease of all Covid restrictions in the UK and abroad, demand for staycations are still on a record high! During the lockdown, more and more people explored their own home country and enjoyed what the UK has to offer. The most recent Office for National Statistics survey proves this by stating that 52% of people surveyed, still want to have a staycation in the uk, despite easing of restrictions.
The house
Possibly the most important part of your whole letting journey!
You need to put yourself in the customers shoes. What does the customer want?
Your property may have the most gorgeous interior, however, if your property has a displeasing exterior it may cause users to click off the photos and not look at the interior Make sure you keep this in mind when choosing the property you go for!
On-site parking
Guests love convenience. Having a designated car parking space or drive is a really important amenity to have. The ease of being able to just pop open the boot,unload all of your belongings and put your feet up.
In busier months, you don’t want your guests spending hours trying to find a car parking space near your property, if a guest is driving around for hours trying to park, it doesn’t give the best start to their holiday.
Location
Don’t just choose a house that appeals to you, you have to think what future guests would like. Most guests will want to be close to local attractions or amenities and may not want to travel a lot during their stay. Once you have chosen your perfect location, do a bit of digging and see if lots of people come to stay in that area, and what do they do when they visit? By doing this, you will be able to figure out what type of customer base the area will attract, which will help you decide what type of property to purchase.
Not sure on the location or need a bit of inspiration? Take a look at our handy guide to local Estate Agents in Yorkshire:
Amenities
You want to choose a location that has amenities that are open all year round. If you choose somewhere that is only seasonal, i.e. they only open for the summer, guests will be less likely to book your holiday let as there will be less for them to do. It will also ensure that you will get consistent bookings throughout the year and more income.
Pet Friendly
In the lockdowns of 2020 and 2021, many families purchased a pet, on average, around 43% of the UK now own a dog and more and more families are taking their pets on holiday.
The demand for pet-friendly properties has surged since lockdown. 43% of the UK now own a dog. Families are choosing to stay in the UK instead of jetting off abroad. and are choosing More families are wanting to explore the UK and discover some local walks With gorgeous beaches, picturesque towns and vast fields, it really is the perfect place to bring your four legged friend!
Photos
Customers first impressions of your holiday let will be from the pictures that they on your properties page online. Its vital that these photos are of an exceptional quality to ensure you stand out from the crowd.
Pricing a holiday let
Make sure that you do your research! Find similar properties in the area and gauge a price. Don’t choose a flat rate for the year, think of the most popular times and how you can optimize your income.Think of your USP’s what makes you stand out? Do you have a hot tub or a log fire, generally, you can charge more for these amenities.
Our team are here to guide you on pricing, we will look at similar cottages in the area to create an ‘average price’ Our team also use a dynamic pricing tool to price your cottage. Our system uses market leading technology to change the price dependent on demand, we research the market daily, this will automatically adapt our prices daily to ensure they are at the best price possible for you and our guests, we can make hundreds and thousands of price adjustments daily ensuring that you always get the best possible price for your cottage.
Managed services (how much involvement do you want?)
Managing a holiday let is more time consuming compared to traditional letting. The high guest turnover means that more time is required for check- in/check out/ cleaning and maintenance. YCC offers different ‘managed services’ tailored to your property. You need to ask yourself how much involvement you would like to have in your holiday cottage. We can have as little involvement as you wish. If you live far away, our Managed Service options can help put you at ease knowing that we will cover everything!
Here are some of the services that we offer:
- Cleaning, laundry change & refresh
- Security checks
- maintenance / repairs
- 24-hour emergency guest helpline
- Legislation documents and renewal
- key collection
Marketing
An experienced holiday letting agency, YCC can help you gain the bookings you deserve. We have a large team of experts who are experienced in following market trends and remaining a step ahead of the competition. We will feature your property on over 300 partner sites, ensuring that your cottage gets the best exposure!
The majority of guests will book their holiday cottage online and find you via search results. There is so much competition at the moment, It’s essential to have high visibility. If you were to try and market your property by yourself, you might find it difficult as you will not have the same search engine optimisation as bigger agencies. YCC is able to offer great online exposure, whereas your personal website might not even reach the 5th page of search results such as ‘holiday cottages in Whitby‘.