Do you have the perfect little beach shack or townhouse that you only get to enjoy during the holidays or the occasional weekender away from the city? Or have you considered buying an investment property to let as a short term Holiday Home? In this blog we’ll review all the little details you might not have considered that are involved in getting started or improving your ROI on your hard earned investment!
So you don’t yet have the perfect property and are wondering what guests look for in a Holiday Home in the Margaret River Region?
It’s easy to fall in love with a home and be guided by your heart when choosing an investment property. However, this property will primarily be used as a Holiday Home that you might only use yourself for a few weeks of the year if at all - so you need to consider a few things;
Location, location, location!
Beach side, central in-town, bush setting? Different locations will appeal to different guests and your budget may dictate your choice on location. We are blessed in the South West with beautiful beach weather throughout summer, however a beach-side property might require some strategic marketing in the cooler months. Holiday Homes located in the heart of town can achieve good occupancy year round if managed well. Some of our Holiday Homes located in a bush setting draw in guests in the depths of the Margaret River winter…. think a glass of local Cab Sav by a wood-burning fire! There are lots of little things to consider when choosing your investment property but if the location is right you could enjoy a great occupancy year round!
Property type and size
Spotted a beautiful, large home which could sleep 10-12 guests? We see homeowners going through the motions of obtaining Shire Approval to rent out their Holiday Home and might only end up getting approval for 6-8 guests due to the various rules and regulations that are currently in place - keep this in mind when considering a property. There may be a higher demand for these larger properties for groups and large families visiting the region but it can be a more complex process when seeking Approval, one of the benefits of using a Property Management Company is that we can help you with this process along the way! What look and style will draw in potential guests? Guest are on holiday, if you have a little studio or a townhouse that can sleep 2-4 guests you might want to go for a more luxury/romantic feel for the interior of your home: something a little bit special and unique! Is you home large enough for families? Board games or a trampoline in the garden are always a winner!
Age of the Holiday Home
Older, character-filled properties can be very popular with guests, especially if there are quirky or unique features, however you will want to do a little bit of homework with these type of properties - the chances of maintenance issue popping up can be much higher with older homes and the chance of your phone ringing too! Getting a call to resolve a plumbing issue just as you sit down to dinner...! Another reason why you might want to consider putting your Holiday Home in the hands of a Property Manager! Newly built and modern homes can draw in guests, especially if the bedding configuration and decor appeals to your target market.
So you’ve found the perfect Investment Property in a beautiful location and chosen all the little finishing touches! Shire Approval is in place and you’re ready to go! Now what…?
Photographs are vital!
These are the first glimpse potential guests will have of your hard-earned investment and guests will either scroll on by or click to see more. It’s so important that these are beautiful, clear, high quality photographs. We recommend using a professional photographer with experience in photographing Holiday Homes for short term Holiday Accommodation. Your mobile phone camera just isn’t going to cut it!
Listing your property!
You might be a wizard on the computer and breeze your way through adding images and information to the various booking platform out there, but which platforms do you use? What content do potential guests want to see? This is when an experienced property manager can be helpful - Do you have the time for trial and error or do you want to get bookings locked in place and the great reviews rolling in? Content is key: what sets your Holiday Home apart from the one along the street - tell your potential guests why they want to book your place!
Choosing your rates and length of stay
You might have a figure in mind of what your home should achieve per night but chances are this will be a little off from what is realistic depending on a few factors; property location, number of guests that the home can sleep, nearby competition. You will need to do your research of what is being achieved nearby and with similar homes to yours. If your price is too high your occupancy will likely reflect this and guests will simply choose to stay in that house along the street, however if your rate is too low you could potentially attract the wrong type of guests. We are spoiled in the Margaret River region with world-class surfing events and fine-food festivals, these are times when you might consider a longer minimum stay to achieve great, long bookings. It can be a fine line when choosing the right rate for your Holiday Home, an experienced property management company can take the guesswork out of this vital step!
Cleaning and essential items
You want to keep guests coming back, have glowing reviews and be highly recommended? Your Holiday Home needs to be spotless! Crisp, fresh linen and fluffy towels are the essentials and maintaining a high standard is the bar which needs to be kept consistent if you want to keep great reviews bringing in future guests to your home. Choosing a professional cleaning company with experience in cleaning Holiday Accommodation can be a great way to go when deciding on who keeps that high standard upheld. Is your home a higher-end luxury property? Your guests might expect a little extra when staying at this type of property or if you have a beach shack or simple family friendly home you could consider having a BYO linen option; this way you can keep your nightly rate competitive and appealing and have the option for guests to add linen for an extra cost if they prefer.
Communication with your guests
Guests can have very different expectations when it comes to communication, you might have a guest who you just won’t hear from at all prior to or during their stay - or you might have guests who want to know all the go-to places in the region so they can plan their itinerary, or are just excited about their holiday and want to have a bit more of a personalised experience. Guests also want to access the Holiday Home at a convenient time for them and this needs to be easy, your guests will likely have just sat in a car for several hours - checking in needs to be simple! Lockboxes are a safe and convenient way to store keys for your arriving guests - providing clear information on where to find and use the lockbox is essential for a smooth check in. Must-know information about the home to make guests comfortable on arrival, how to turn on the hot water, for example, or where to find the firelighters to get the fire going etc are all so important for that initial experience for guests. Regardless of what your guests seek from your communication; it is essential that you are approachable, available, and your communication is clear, concise and most importantly… friendly - your guests are on holiday! If you can make it seamless for them you can expect a great review!
So you’ve read through all of these tips and are feeling excited to get started? A little overwhelmed? Or you live in the city and just don’t have the time to invest in making your Holiday Home listing as great as it can be? Using a Property Management Company for your Holiday Accommodation can be the perfect move in getting the best return on your investment!