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Making the Most of Your Rental Property

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January 1, 2011

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There are thousands of properties available for rent in popular holiday destinations, offering varying standards of accommodation, one of the reasons why Spain is fast becoming know for its high standards in holiday homes. Think five star hotel luxury with the added benefit of more space, a kitchen, private pool and someone on call should you need anything. This is the latest requirement and a typical family’s ideal of what their holiday home should provide these days. The most popular rental properties, those that get rented out year round, are the ones that meet a certain criteria for the perfect rental. The property must provide a home from home feel giving thought to details of what one would expect to have.

Gone are the days of sparsely furnished homes with the odd piece of cane furniture and a few pots and pans thrown in the kitchen cupboard for good measure. The quality of furnishings play an important role and will directly influence the weekly or monthly income you can earn from a property. Choosing the right look, the right colours, and creating a comfortable place to stay without cluttering the property is important. Consider investing in quality, durable furnishings from the outset so that you’re not faced with replacing items after just one season. It’s better to think long-term investment and offer a good quality product so that your property can compete well against the ever-increasing supply of rentals. Furniture stores can be quite limited in terms of choice and sometimes it pays to shop around to achieve the best results. Enlist the help of a professional and you could save yourself the hassle of doing this yourself.

What must be in the property?
Bed configurations that enable flexibility, whether it’s a family booking or perhaps a small group of golfers, the apartment or villa should be adaptable to personal requests. A good tip is to purchase single mattresses that zip together to form a double bed when needed.

Double sets of sheets and towels are necessary for a same day turn around, (a check out at 10am followed by a check in at 2pm), and a locked cupboard is essential for storing extra laundry. Bathrooms should be ensuite with plenty of clean towels, preferably of good quality and plain white are always more stylish. A set of good plastic tumblers (normally used on luxury yachts) for out door use can really save on breakages. You can buy good quality, dishwasher safe plastic cups now that are great for use around the pool area. If there are kids in the party it’s better to avoid any possible injuries. Buy two sets of beach towels so that the bathroom towels don’t get spoilt.

When furnishing the property make sure there is adequate seating in the lounge and dining room. If you have a three-bedroom apartment there should be seating for six around the dining room table and sofa area.

Luxuries that ensure your property becomes a popular rental
Satellite TV, DVD player, a fully stocked kitchen, hot tub and comfortable out-door furniture are a given if you want to provide a top quality rental. Rooms decorated to a high standard which are specifically designed for universal appeal in stylish colours of ambient white, cream and beige are particularly now. If you create an overall base of neutral colours you can have fun with adding strong Mediterranean accents for the soft furnishings such as burnt orange and yellow or colour-ways of soft ocean colours. The choices are endless!

It’s important to create a look with longevity, something stylish and trendy, that can be updated with the without fuss or expense.

Tips on how to manage a successful rental holiday home
The added rental income from letting out your holiday home is the icing on the cake. However there is a great deal of work to be done before you can reap the benefits of a rental income. Getting yourself a property manager to oversee the process is key to a professional holiday home rental. It is paramount that the property is kept in perfect condition throughout the season, not only to protect your investment, but the quality of the product you are offering will determine whether your guests are happy or not. The property manager can handle rental enquiries and bookings as well as dealing with the clients demands during their stay. Dealing with these requests from overseas is not always practical so it’s worth considering hiring someone locally. That someone should have an army of qualified local trades people such as plumbers and electricians at their finger tips that they can call on day or night to fix any problems.

There’s no room for error where holidays are concerned, for example, booking dates should be accurately tracked and properties should be cleaned and properly presented prior to guest arrivals. Special requests should be noted and meeting clients with keys at unsociable hours is part of the job. Inevitably the hot water or air conditioning will break at some point and it’s essential it is fixed immediately. Paying guests aren’t interested in excuses. Having someone on hand to take calls if something does breakdown or a local number for the client to call should they need to know directions to the local supermarket should be part of the package.

Essentially providing this service will ensure clients come back again next year!

It’s now common for luxury properties to offer a personal 24-hour concierge service to their paying guests. Services included are restaurant reservations, yacht charter, car rental, baby-sitting services, in-house catering, advice on where to shop, flower delivery, daily maid services and more. The emphasis today is to provide a personal service, second to none. Not all rental companies are offering this kind of personal service but in the long run it ensures that the holidaymakers have an excellent experience and will recommend the property to friends and will no doubt return again and again.

If you need advice on sales, renovations, rentals or property management contact:
Kay Perry
Tel: +34 659 387 383
www.keychoicemallorca.com


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