How do you choose the right type of holiday let management for your needs? In this blog post, we’ll break down the various types of holiday let management options available to hosts.
You’ve bought or own a holiday let and are ready for guests! Your next step is to choose whether to manage the property yourself or use a holiday let management company. Both options have their pros and cons. Your choice will depend on various factors, such as your proximity to the property, the amount of time you can dedicate to the business, and your experience in holiday letting. To help you consider all the options and make an informed decision that works best for you. This blog post will discuss the various types of holiday let management options available to hosts.
Why use a holiday let management service?
It’s no secret that managing a holiday let is a lot of work. Involving marketing, booking, maintenance, cleaning, guest communication, and financial management. You may not have the spare time or the expertise or live close enough to handle all these aspects effectively. This is where holiday let management companies come in. They can help you manage your holiday let more efficiently.
Three different types of holiday let management
Fully managed holiday let management
This type of management takes care of everything, including guest communication, cleaning, property photos, maintenance, inspections, and so much more. You can even choose a provider local to your holiday let’s area. That way, they can inform guests about local attractions and amenities. This will make guests’ stay memorable whilst you have peace of mind knowing that your property is in good hands. Here are a few ways holiday let management companies can help you make your role as a property owner easier and maintain consistent bookings.
Hassle-free management
This type of holiday let management can be very hands-off. You, as the owner, will rarely deal with customers directly. You can avoid dealing with day-to-day management tasks such as cleaning, maintenance, and guest communication.
Increased bookings
Expect a higher volume of bookings with a professional management team. They can use their experience and resources to market your property effectively. Advertising and marketing a holiday let on your own can be daunting, and knowing where to begin is challenging. It’s very easy to spend a lot of money on advertising and marketing campaigns that don’t get any results. This is where holiday let management is extremely valuable.
Better guest experience
A professional management team can provide a higher standard of service to your guests. They will ensure their needs are met and resolve any issues promptly. Providing your guests an exceptional stay can result in positive reviews for your property, attracting new customers and encouraging past guests to return.
Expert advice
A reputable holiday let management company can provide expert advice on how to maximise the potential of your property. They can even include suggestions for renovations or upgrades to increase appeal to guests. You will also be updated with holiday let rules and regulations, such as fire safety, electric, and gas safety.
Trust and support
We believe working with a holiday letting agency you trust and feel comfortable with is the most critical factor. Establishing a positive relationship with your chosen agency is vital to running a successful holiday let and ensuring your guests have the best experience possible. Some agencies even offer dedicated managed service specialists who will become intimately familiar with your property, inside and out.
What are the downsides of fully managed holiday let management?
Many positives come with using a holiday let management company, although it’s not for everybody. There are a few potential downsides to consider. Some cons include the higher cost associated with fully managed services. Decreased control over your property. Less time for your use and no use over certain holidays, and the possibility of miscommunication with the management company. Some owners may find that a fully managed service aligns differently with their needs and preferences.
Self-managing your holiday let
Self-managing a holiday let means you the property owner or host, take care of all aspects of renting out your holiday home, from advertising and booking to cleaning and maintenance. This can involve a lot of work, but it also allows you more control over the process and potentially saves on management fees. Here are the pros of self-managing your holiday let.
More control
Self-managing your holiday lets you control how you want your property to be marketed, managed and maintained.
Higher profits
By self-managing, you can cut out the middleman and keep the profits. You can also adjust your pricing and marketing strategy to maximise your income. While avoiding management fees may appear to be an obvious decision to increase your earnings. It is important to consider the benefits of using a reputable agency to gain exposure for your property and secure your first set of bookings, especially if you are starting out.
Flexibility
More control over your property allows you to stay there whenever you want without worrying about restrictions or allowances. You can also allow your friends and family to stay at the holiday let without using up your allowance to book the time out. However, it’s important to note that this option can lead to the loss of actual revenue weeks. Some agencies offer different owner booking allowances to cater to this, so such options are always worth considering.
Personal touch
When you self-manage, you can add a personal touch to your guest interactions and create a more memorable experience for your guests.
Learning opportunity
Self-managing your holiday let can be a valuable learning experience, as you’ll gain firsthand knowledge of the industry and learn important skills like marketing, guest management, and property maintenance.
What are the downsides of self-managing your holiday let?
However, it can come with some downsides, such as the potential for increased workload and stress and the need to handle all aspects of the property management yourself. Additionally, you may not have access to the same resources and expertise as a professional management company, which could impact your ability to provide a high-quality experience for your guests. Finally, if something goes wrong, such as a guest damaging the property, you will be solely responsible for handling the situation and any associated costs.
Listing only holiday let management
Listing only holiday let management refers to management where the host handles various tasks such as guest management, property upkeep, emergencies, cleaning, and other related tasks. However, to find guests for their property, they would typically use the services of a listing agent, website, or other platforms.
In exchange for using these platforms to list their property online, hosts usually pay a fee of around 10-20%. Listing only your holiday let has the benefits of going solo whilst getting your property seen and booked. Many companies will tailor a management package to your needs, so it’s always good to research each one thoroughly.
While some hosts prefer to manage everything independently, others prefer professional management services. Ultimately, the key is to find management that provides the necessary support, expertise, and flexibility that works for you. We hope this article has been helpful; you can let us know what you think in the comments.
Peak District-based holiday let management and support team
If you are considering holiday let management in the Peak District we can help you.
We offer a complete end-to-end support service to ensure your holiday or short-let property realises its full rental income and occupancy potential. We operate using our Peak District teams and providers who understand the importance of knowing your local area better than anyone.
Here are a few ways we can support you:
- A complete property management support service, including cleaning and linen supply.
- A rolling 3-month contract, so no long-term agreements.
- 24/7 guest support services and full listing management.
- Competitive management fees.
- Full access via your client portal.
If you have any questions about any of the above, you can contact us, and we will help in any way we can. We hope this article has been helpful, and we thank you for your cooperation!
Matt & Kerry Clayton
Pass the Keys – Holiday Let Management in the Peak District