Luxury home accommodation business, UnderTheDoormat, has come up with some top tips to help homeowners to cash in on the rental potential of their properties this Christmas whilst they themselves are away, based on the findings of research conducted by Mintel.
The demand for a ‘home-from-home’ experience from people wanting to get away for a few nights in the UK or for a Christmas break is still growing. As a consequence, many more homeowners are seeing this as a great business opportunity to generate additional income by renting out their own homes whilst they themselves are away over the festive period. Understandably, many homeowners who haven’t done this before are not sure what guests might be looking for so might not market their property as effectively as they should to secure the highest rent.
UnderTheDoormat believes that a unique or special feature of a home could make all the difference between charging a normal and premium rent.
Research from Mintel’s Holiday Rental Property UK 2021 report uncovered the most popular factors that would most likely persuade people to choose one property over another for a holiday. Top of the list was a swimming pool, followed by a property that was unusual like a windmill or lighthouse, one that was in the style of a farmhouse cottage with exposed floors and beams or one that offers 5 star luxury. Mintel recognised that whilst a swimming pool in the UK is a rare commodity, a hot tub is likely to appeal to many of those wanting a pool.
Mintel’s research also highlighted other factors that would encourage consumers to pick one property over another:
• properties that are remote or off the beaten track
• properties that have a games room for things like table tennis or pool
• larger properties, for instance featuring 4 or more bedrooms
• ability to book local activities using an app or website
• providing bikes/e-bikes for guests to use
Based on this valuable intelligence, UnderTheDoormat’s marketing director, Annabelle Ottaway has three tips for people who want to get the maximum rent possible from letting out their homes:
“The first thing I would recommend is to conduct an audit of their property to truly uncover what features it has. Whilst fewer homeowners might have a swimming pool to offer, hot tubs are certainly now more commonplace. Anything that is unusual or can be styled to be quirky or provide downright luxury will ensure your property moves further up the pecking order. We often find that people look for homes that reflect the life they lead – so featuring anything in your home that showcases your personality will increase the chances of attracting a guest similar to yourself.”
“The second thing to do is to make it as easy as possible for people to discover all of the things that they can do in the surrounding area. Provide information about the property’s location and vicinity to the best restaurants, local walks or nearby tourist attractions.”
“Finally think about what else you can offer to make the stay more appealing such as converting a room into a games room with a table tennis table, dartboard or Scalextric. Make sure everything is in good working order. The same goes for bikes. Make sure you have three or four of them that are clean, in good working order and come with lights and locks. This is especially important for larger properties where the demand from extended families or groups of friends is likely to sky rocket this year now that we’re not living under the COVID restrictions that were in place last year.
“By investing some time and a little money, you can make your property stand out from the others, have a much better chance of being able to charge more and importantly get good reviews and returning guests.”
Homeowners who have properties in London that they would like to rent out on a short term basis from time to time can register their interest at underthedoormat.com