Letting Out of Season

There are two sides to every holiday let: a peak season and an off season. For most properties its all go during the summer with plenty of bookings and changeovers to deal with, but during the winter it can become very quiet indeed. The problem is that most lenders won’t lend you a mortgage that you’re able to pay out of season, so how can you make the most of your quiet times?

Lower Your Prices

Most holiday lets do significantly reduce their prices during off-peak times; the simple equation is that it’s better to have somebody in your property than nobody at all. Make sure that the administrative costs of having someone in off-season don’t outweigh the rent they’re paying but charge a price which might entice people to think outside the box for their holiday.

Be Flexible

Things run a bit differently in the off season and flight timetables, amenities and public transport schedules are a bit haphazard. If it’s easier for your tenants to stay for nine days rather than stick to a Saturday changeover then that might be ideal, especially if you haven’t got anyone coming in the following week. Flexibility will allow you to pick up more tenants that you might have done otherwise.

Look Long Term

You might find it’s easier to pick up a long term tenant off season than lots of holiday business. They’ll expect to pay more like local rent prices than the usual tourist mark-up so don’t be afraid to drop your price if you find someone who’s interested in taking your property for the whole season. You may still need Overseas Property Insurance or UK Holiday Home Insurance if you’re letting to long term tenants, however, so don’t assume you’re covered.

The off season is always a difficult period for landlords and some places definitely suffer worse than others. Don’t be afraid to drop your prices considerably to get tenants in and think about long term tenancies; it might solve all your problems in one go!