Many are trying to save money but another option is to look at how to make money. Renting out your property, to holiday makers can earn you some good money, whether it’s a holiday home or your actual home.
If you’re looking to make some money, renting out your own home, either whilst you’re away or perhaps just a spare room whilst you’re still there, may be your answer.
A key point though is you need to effectively market your property to ensure people know it is available for rent. You can have the best place, near a fabulous beach perhaps or near some fabulous country walks but unless people know about it, you will not have holidaymakers staying with you.
You also must sort out deposits, safety, landlords insurance and an official agreement.
Without these crucial details in place, a number of issues can arise. It is also essential to be aware of procedures to follow when becoming a short-term holiday let landlord in order to prevent problems for you and your potential guests.
So you may well be asking how do you list your home? How do you know how much to charge? What happens if your property is left damaged?
Another important point to understand is whether your property is located in a location that holidaymakers are likely to visit? If so, is this a better option than long-term letting?
To help answer these questions, watch our video Simon Dance from HouseTrip, Property Editor Julian Knight and case study Olga Fetisova who has rented her properties to travellers and gives her tips and advice so that you know exactly what to do if you’re considering renting your property or spare room to holidaymakers.
MoneyHighStreet comments: “Renting out your property to holidaymakers is certainly an option to consider if you are looking to make some money.
“It is vital though that you do plan and understand exactly what you are letting yourself in for. You must have all the necessary paperwork, including insurance in place to protect both yourself and your tenants.”