Holiday while your home does the hard work

As people increasingly look for new ways to boost their income, many British homeowners could be sitting on a mini-goldmine this summer, says Email4property.co.uk, with properties throughout the country now offering excellent potential for short-term holiday lets.

During a downturn, people often opt to sell, downsize or rent out homes long-term as a means of cutting their living costs. However, there could be a less drastic solution for those looking for a cash boost, says Email4property.co.uk. The UK’s largest online network of estate agents is highlighting ways that people can make their homes work for them, capitalising on the strong UK holiday market and providing income without significantly altering lifestyles.

More and more cost-conscious Brits are looking to holiday homes in the UK as opposed to making expensive trips abroad, and the increasing appeal of renting a holiday property closer to home has been further strengthened by a recent stream of television programmes focussing on the British Isles.

Tips for short-term summer rentals – by Email4Property.co.uk

Promoting your home

There is a range of specialist agents throughout the country that focus specifically on holiday rentals. They will have the knowledge to assess the rental potential of your home and advertise it in the most effective way. They will also be able to advise you on any legal obligations and provide general tips on letting your home. Listen to your agent’s advice on the local market and be prepared to be flexible on the rental income you expect to receive. To find the specialist agents in your area visit: email4property.co.uk/holidayproperty

Consider timeframe

Obviously you will need to find somewhere to live yourself while your home is being let out, so it makes sense to plan your own holidays or look for options to stay with family/friends during your chosen rental period(s). If your home is in a real holiday hotspot, which could yield a very strong return over the summer, it may be worth looking to rent yourself in a different location for an extended period in order to achieve the maximum gain from the local holiday market.

Managing your rental

It is always recommended that you arrange professional management of the home with your local agent. Unless you are remaining nearby or have trusted family/friends willing to manage the property for you, this is essential.

Look at what will attract holidaymakers to your town

The credit crunch has helped Brits to rediscover the wealth of holiday opportunities on their doorstep, which has led to a major focus on British travel on terrestrial TV. People are now increasingly looking to explore parts of the country they previously might not have ever visited. Traditional festivals, local carnivals and markets are all likely to attract people to an area.

Sporting credentials offer the winning formula

Summer sports have long been a source for short-term rental opportunities, and areas that are popular for sailing, surfing and golf will always have money-spinning potential for homeowners planning to let out their property. However, the arrival of the Olympic Games to London in 2012 and the Ryder Cup in Newport next year have increased the possibilities for sporting rentals. Host towns of major international events receive a level of exposure that extends beyond the occasion itself, and areas such as Weymouth in Dorset, the venue for Sailing at the 2012 Games, is sure to receive a renewed wave of visitors in the preceding summer seasons.

Those looking to simply take in the atmosphere of a traditional British sporting event may head north of the border for the Highland Games. Homeowners in Argyll, which hosts its games in July, can offer holidaymakers an all-round package that takes in Loch Lomond and some of the most beautiful scenery Scotland has to offer.

Steve Lees, Head of Marketing for Email4Property.co.uk, comments:

“People naturally look to their homes as a source of income during times of stretched finance, but often take drastic measures that are avoidable. Now many are finding that their home’s locality may offer surprising money-making potential – especially during the holiday season.

“The UK holiday market continues to thrive, as people cut back on expensive trips abroad. This offers homeowners in top coastal hotspots an obvious source of income in the summer months. But this renewed attention closer to home has spread the local holiday market out to less likely parts of the UK, with growing interest in cultural and historic locations. The arrival of some major national and international events has also worked to boost local tourism in many areas of the country.”