Grading your property

Setting a realistic price for holiday rent is the key to ensuring high occupancy and satisfied customers who will return again and again. Setting the rent too high will ultimately result in complaints from customers who do not feel they have had value for money. Setting the rent too low will result in loss of income and therefore make your holiday cottage venture unsuccessful. The amount or rent you will be able to charge will depend largely on the grade given to your property.

Using a holiday company

If you decide to pay for the services of an agent to let your cottage for you, it will be their job to grade your property. It is entirely up to you whether you agree with the agent or prefer to market your property at a different price to that recommended. However, it is important to realise that an agent has lots of experience with regard to grading property and will have inspected hundreds of houses. The agent will be able to use past experience as a comparison when setting the grade for your property. Some agents will allow you to set your own pricing structure (providing this is not ridiculous, and they feel happy that they can achieve bookings at your chosen level), while others will insist that you go with their grading and pricing structure.

Using a holiday let company

Holiday let agents each have their own methods of grading property, and the system they use will be explained both to you and to any prospective holidaymakers. The grading system is there to enable customers to make an informed choice on the type of holiday they wish to book. Without grading it would be difficult for customers to have an idea of the facilities on offer or the standard of the accommodation.

Although in today’s society a lot of people have access to the internet and can therefore view the accommodation before booking, grading is a good way of helping those people who do not have internet access or those who choose to book their holiday using a brochure. Grading also makes the whole booking procedure much easier, as a prospective holiday-maker can request specific details of high-graded properties if they require luxury or low-graded properties if they prefer basic, low-budget accommodation. The grading system cuts out the need to sift through thousands of holiday properties when perhaps only 50 will be of interest.

The facilities you offer in your accommodation, together with the décor, fixtures and fittings, will all have an impact on the grading your property receives.

Grading systems

Some agencies grade properties using a ‘star’ grading system. The more stars the property has the more luxurious the accommodation. Others use symbols or numbers that refer to a pricing grid which varies depending on the facilities on offer. An even simpler way is to say in the brochure or on the website exactly what the agent’s view of the property is, for example ‘Comfortable’, ‘Good Quality’ or ‘Outstanding’. Each agency will have its own system and this will be explained to you if you request their services.

Assessing accommodation

The number of guests your accommodation can sleep will also have an impact on the price you will be able to charge. However, this does not necessarily mean that a property sleeping eight people can command a higher rate than one sleeping only four. The internal décor and the number of facilities on offer will be a deciding factor on the rental you request. This is where added luxuries can pay dividends. It is always important to go that little bit further and provide extras to appeal to holidaymakers who will be prepared to pay more for luxury.

Every agency will of course want to ensure that the properties they have on offer meet high standards, as this is their way of generating business. Like you, an agency relies on bookings and satisfied customers returning to them. It is vital that the agency you choose grades your property accurately and commands the best price for the accommodation based on its sleeping arrangements, amenities, facilities and, of course, location. Some companies enlist the English Tourism Council to train their representatives in order that they can accurately assess and grade the properties.

The following is a list of some of the things that may have an impact on the grading your property will receive.

Location

This is probably the most important factor. A Property in a good location can ultimately command a higher price than one in a less desirable area. Good locations are:

• Near to a good beach.
• A character cottage in a romantic or picturesque setting.
• A city base, particularly near to London, Edinburgh York, etc.

Generally, people choosing a holiday property are looking for accommodation that is different to what they have at home. They may be looking for adventure in a converted lighthouse romance in a thatched, chocolate-box cottage or simply luxury in a man house with a pool. If, however, your property is a two-bedroomed terraced house in a windswept location do not be deterred. Having a property in a less desirable location may not command maximum rentals but, if you furnish it correctly and add the right amount of quality facilities, you will still be able to find guests wishing to rent it. Your initial task of making the property appeal to holidaymakers may be a little harder with a property in a less desirable area but it is by no means impossible.

Décor and furnishings

It is important that your property does not appear shabby. Often a lick of paint is all that is required to bring a house up to a good standard and can make a huge difference to its grading. Chipped paint and peeling wallpaper will not please customers and these are problems that must be addressed. A dirty worn suite and threadbare carpets will not have the desired impact, nor will poor-quality bed linen and towels, so invest wisely and buy furnishings and linen that will stay looking good.

Fixtures and fittings

A lot of people are loathe to spend vast amounts of money on new kitchens and bathrooms in a property that is being rented out. However, it is always a good idea to invest in quality fixtures and fittings. They need not be the most expensive but by paying a little bit more and settling for a mid-range rather than a budget range will pay dividends in the long run. Not only will the quality be obvious, but the fixtures and fittings will stand the test of time and stay looking good for longer.

When choosing fixtures and fittings it is worth bearing in mind that short-term lets to holidaymakers are generally a safer bet than long-term lets in terms of your property being cared for. There is, of course, always an exception to every rule, but I am of the opinion that people on holiday, while they may not spring-clean the property, are usually happy to look after the house and its contents, and in my experience short-term lets do not seem to get the same abuse as those that are long-term.

Facilities

People on holiday are usually looking for a home from home but with added luxuries. For example, someone who does not own dishwasher will be impressed to find one at their holiday accommodation. Generally, anything that will make life easier will be a welcome addition to the property. An automatic washing machine, tumble dryer and teasmaid would be worthwhile investments. Other facilities which may increase your property’s grading would be a freezer (in addition to a fridge) cable television, music system, games consoles, etc.

Properties with luxuries such as a gym, snooker room or a swimming pool will almost definitely be able to command maximum rental, provided of course that the rest of the property is up to standard.

Choosing an agent

When choosing a company to market and let your property, it is important that you request details first to read at your leisure, so that you are confident you have chosen the right company. Some companies concentrate on certain areas of the country and may refuse to take on a property outside their preferred location. Others prefer only character cottages in romantic settings. It is important to shop around before choosing an agent. Letting agencies differ and each one will offer its own incentive. Get a feel for the company by browsing their website and seeing how many bookings they have generated for the properties they are already marketing. Look at the different grading and pricing structures and of course be aware of the costs and charges incurred for the company’s services.

A good agency will offer help and support both prior to your property being advertised and after. It is important for the agency you choose to be confident that the property is of a good standard and that it will generate lots of bookings.

When you have decided on which agency to use, someone from the company will visit you at your holiday let property to assess the accommodation and advise you of the best way you can maximise its potential. They will explain their company’s grading and pricing systems and inform you how much they feel they could market your property for. They should be able to advise you of added purchases you may like to make or suggest changes that could make the property more appealing to holidaymakers. They should not be seen to be criticising your property. However, it is important that you take on board the advice you are offered and remember the representative will have seen hundreds, possibly thousands, of properties and they are in an excellent position to compare your holiday home to others they have inspected. They should be aware of what sells and what doesn’t and will be able to give you sound help and advice.

If you are completely in the dark about the best way to furnish and decorate your property, try speaking to your chosen agency before you make any major decisions or purchases. They may well be able to come out to the property, in advance, to advise you of what to buy in order to reach the property’s maximum potential. For example, would you buy bunk beds for a small bedroom or would you opt for one single bed? Bunk beds may well accommodate another guest but is this feasible in your particular property? My own experience, using a particular agency, paid dividends. I telephoned the company ahead of the aye I was hoping to market my property. They took detailes from me and sent their regional manager out. My property was by no means finished but the manger was able to give me lots of helpful advice. I told her my plans and she then explained whether or not she thought these ideas would be beneficial as far as rental potential was concerned. I was pleased to have been able to speak to her while still in the planning stage as she prevented me form making expensive purchases that would have seen little, if any, return in rental.

The biggest advantage of employing the services of a holiday let agency is without a doubt the marketing facilities they have to offer. When choosing which agency to use, always bear in mind the company’s marketing facilities. Opt for a company that can give your property maximum exposure and therefore ensure plenty of bookings. You may have purchased a dream property and furnished it to a very high standard, but unless you or your agent market the property successfully you may never get the desired number of bookings. Ask the agency how they propose to market your property and how much they usually spend on marketing and advertising properties each year. Look at the brochures they produce: are they of good quality, are they easy to understand, do they show properties to their maximum potential? Does the agency have a website? If so, is it easy to use and does it give plenty of useful information? What other distribution channels does the company have? Choosing a well-known company with a large advertising budget will probably be your safest bet. Ask yourself an important question that most holidaymakers will also consider:

Would you book a holiday with a well-known company before one that you haven’t heard of?

Most people would invariably opt for the well-known company as they fell safe in the knowledge that the company has experience and they are confident that if things go wrong they have a reliable agency to turn to.

That is not to say that a smaller company will not be a good choice. Sometimes a more personal service can be had by going with a small company and holidaymakers may take this into consideration. However, as someone employing the services of an agent it is vital that you opt for a company that will work for you. In addition to a large advertising budget, you must also look at the services they provide. Help and advice is usually free but you may also like to look at the company’s administration system. Ask them about their booking procedure and the paperwork they provide. How do they take bookings and collect payments? When can your expect to see any money? How do they handle complaints? What happens in the event of a cancellation? All these questions are vital to the smooth running of a holiday let property and it is important that you inquire what, if any, services the agency provides. You may be required to deal with any complaints yourself, for example, and this is one area where you would probably need the agency’s help and advice. Don’t assume that all agencies will offer assistance with all aspects of running your letting business.

Some companies offer a complete package, including advertising, administration, support and advice, housekeeping, insurance and accountancy. If you are intending to leave everything up to your agency, then it is vital that you check beforehand that they provide all the services you require and at what cost. If you have the time and the inclination you can save yourself money by doing some of the things yourself. For example, if you live near to the property you could do your own changeover cleans and laundry and therefore save yourself the expense of employing a housekeeper or using the agency’s cleaning services. If you are familiar with accounts and book-keeping you may find it relatively easy to do your own accounts and tab returns, saving yourself the expense of employing an accountant. The agency you choose depends very much on how mulch work you intend to put into your holiday let venture.

What to look for in an agency

In short, some of the important factors you should consider when choosing a holiday let agency are:

• 1.A proven history in the holiday let market where maximum booking potential is achieved.
• 2.Extensive advertising on a national level.
• 3.A good marketing strategy.
• 4.Financial protection – advance payments and cancellation protection.
• 5.Freedom for personal bookings – some agencies may prevent you from using your holiday cottage yourself throughout the busy summer season. Check that the company you are intending to use does not charge penalties for owner bookings.
• 6.In tenet access with virtual tours.
• 7.Owner support.
• 8.Quality administration service.
• 9.Housekeeping service.
• 10.Accountancy service.

To hop you to decide which, if any, holiday let agency you should choose, we will now look at some of the companies and what they have to offer.

Holiday Cottages Group Limited. This company consists of several brands that make up Pendant VRG (UK). Three of the well-known holiday let agencies within this group are:

Country Holidays

I have always found this company to offer an excellent service. They have a very high level of customer satisfaction and offer 25 years of knowledge and expertise. Country Holidays have an annual marketing budget that exceeds £3 million. their advertisements feature in national newspapers, holiday and national interest magazines, and Tourist Board publications. The company is well known and offers a colorful, glossy brochure with an extensive distribution reaching over 4 million potential customers, together with website access and virtual tours of many of their properties.

Country Holidays can handle up to 8,000 telephone calls per day and they have over 100 telephone lines. Their sales advisors are highly trained and have access to computer software that can immediately offer a customer alternative accommodation, should their first choice be unavailable.

Rental money is paid directly into the owner’s bank account, in advance, and monthly statements are issued, together with booking details as and when they are taken. Protection against cancellation is also offered and Country Holidays recognize that holiday home owners may wish to use the property themselves. They therefore agree to allow a set number of weeks per year for owner bookings, which will be detailed on your contract. For further information about Country Holidays, visit theirwebsits: www.countryholidays.co.uk

Welcome Cottages

Again, this company has a large marketing budget and regularly appears in all the major national daily and Sunday newspapers together with many specialist magazines, including The National Trust, Dog World and Birds Magazine. Welcome Cottages reaches a wide audience and they distribute over 2.5 million brochures every year. Like most other companies, welcome Cottages charge an annual registration fee, and they are happy for owners to withdraw their property for their own use providing they follow the company’s guidelines for the number of weeks and notice given.

Welcome Cottages offer a superb range of holiday properties throughout the United Kingdom and Ireland. For more information, visit their website: www.welcomeowner.com

English Country Cottages

This company was set up in 1977 and since then it has become one of the largest rental agencies in the market. English Country Cottages advertise their properties in England and Wales and also incorporate additional brochures that include Scottish Irish, French and Italian country cottages.

English Country Cottages state that almost three-quarters of their visitors are in the upper income brackets and that rather than trying to compete eith overseas holidays, their company complements them, as their average customer takes two or more holidays per year.

English Country Cottages advertise widely in the major national newspapers, quality periodicals, women’s magazines and special interest publications. They also offer a full overseas promotion service and generate bookings from over 15 different countries, including mainland Europe, Australia and New Zealand, South Africa and the United States. Further information about English Country Cottages can be found on their website: www.english-country-cottages.co.uk

Recommended Cottage Holidays are based in North Yorkshire and offer holiday cottages throughout the country.

They employ trained staff and are open seven days a week to answer queries and take bookings. Like other companies, they advertise in the national press and through tourist information centers, travel agents and overseas agents. Recommended Cottage Holidays offer a unique owner booking policy, whereby owners of holiday homes can book as many weeks as they like and will not incur any commission charges. All the company ask is that you keep them informed of your personal use or your own booing in order that they can be sure they do not double book. This is a great advantage to holiday home owners who frequently use their own property, as many other companies either charge a commission for owner bookings or restrict the number of owner bookings allowed. Recommended Cottage Holiday advertise their properties and computer booking system on the internet and payments are made to owners for the bookings monthly in advance. More information can be found on their website: www.recommended-cottages.co.uk.

Things to consider when choosing your agent

There is no shortage of holiday let agencies in Britain so it is important to do your homework and choose wisely. Think about:

• 1.The advertising scope.
• 2.The particular areas of the country that the agency concentrates on. If your property is in Wales there is little point trying to market it with a company that specializes in the Scottish Highlands.
• 3.The type of property the agency already has on its books. If you have a standard cottage aimed at budget holidaymakers, it will not benefit you to put your property with an agency that caters largely for the discerning customer looking for luxury holiday in a top-of-the-range property. Even if the agency agreed to take your property (which is highly unlikely), you world probably end up with a lot of dissatisfied customers and a lengthy list of complaints.
• 4.The advice and services offered. Some companies will offer housekeeping and gardening services while others will expect you to find your own. Bear in mind that agencies usually charge a premium for these services, and you would be well advised to find your own maintenance staff if your are not able to clean and maintain the property yourself.
• 5.The commission charges the company takes. Make sure the percentage taken by the agency is not extortionate and that the service they provide justifies the commission they command.

In theory, using a holiday let agency should remove all the hassle and worry associated with the promotion, marketing, administration and letting of your holiday home. They should also ensure that payments are received on time and work with you to solve any problems or complaints. All agents offer different services. When choosing which agent that demands the highest rental. Although in theory you should expect to make more money from higher rentals, this is not always the case with holiday let agencies, as the extra commission they charge may cancel out any profits made. You must take into consideration the things the agency has to offer and whether or not they are of benefit to you personally as a holiday home owner. If you have no intention of using the property yourself and simply with to rent the property out for as many weeks as possible, then there is no point in selecting and agency that offers numerous free weeks, free of commission charges, to the owners, unless of course your are able to generate plenty of bookins yourself through friends, family, work colleagues, etc., in which case this may be worth considering.

In general, the most important aspect to think about when choosing your agent is their means to promote your property. A well-established agency with a good customer database and an excellent reputation will probably do your property justiece. Check the advertising methods the agency but bear in mind that their expertise and success in marketing and generating bookings may well be worth paying a little extra for in commission charges.

There are several agencies that specialise in certain properties. They may be much smaller but do consider them if they offer a unique service for the type of property you own or its location. For example, a company specialising in cottages in the Yorkshire Dales would be a good consideration if your won a barn conversion in Ingleton. Likewise, a company specialising in city holidays would be ideal for someone hoping to let a flat in central London

The key is to shop around and, once again, be prepared to do your homework. You may decide on a particular agency but, after the initial enquiry, realise that they are not offering what your are looking for, or indeed find that they are not interested in your property. (This can and does happen if a company specialises in certain properties and yours is not up to the requires specification.)

Marketing the property yourself

Of course it is not essential that you use the services of an agent to market your property, though if your wish to generate maximum bookings then using an agent will almost definitely be your best bet initially. Before deciding to market the property yourself, you must consider a number of points:

• 1.Are you only intending to let your property to family and friends? If this is they case, then you will probably be fine producing and distributing a simple leaflet.
• 2.Are you intending to generate bookings throughout the year to help you pay the costs of owning your property? If so:
• 3.Are you able to take enquiries and distribute details of your holiday home?
• 4.Are you able to collect payments?
• 5.Will you be on hand to deal with any problems or complaints?

You must answer these questions realistically. You may well be able to deal with all the enquires and administration involved in the running of a holiday home if you work part-time or work from home but how will you take bookings and answer queries if you work long hours or shift patterns? Research carried out by holiday let agencies has shown that the majority of customers book their holidays at the weekend or evenings, probably because this is the time the family spends together and they are able to take into account everyone’s preferences when choosing the holiday destination. Therefore, if you work weekends or and your holiday let business will almost certainly suffer because of it.

When first letting a holiday cottage it is probably true to say that most owners fell anxious during the first few lettings. I think all holiday property owners have sat down and thought, ‘What opinion will customers have of my property?’, ‘Will they hate the area, house, etc.?’, love the property, return time and time again and tell their friends and family. This is of course how to make your holiday let business successful and generate a good rental income. If this is the case, and I sincerely hope it is, and you have lots of happy, satisfied customers, resist the urge to dispense with your agency’s services straight away. On looking at your statement you won’t help but notice the commission fees charged by the agency and many people think that they will benefit greatly by going it alone, dropping the agency, and doing all the work themselves. However, you must ask yourself how practical this would be. Your biggest problem will be finding the customers. You may have had half a dozen satisfied customers to date but it is unrealistic to expect them all to return every year and tell their friends and family about your property.

So, unless you have a means of reaching a large number of potential customers, I would advise you to retain the services of your agent for at least a couple of years, This way you will be able to build up a good client database from past bookings. Your agency will furnish you with the names and contact addresses of all the people who use your property and you can then contact these people and offer them the chance don’t require the help of an agency. Even if you reduce the property by, say, £50,00 per week you will probably still be earning more money then you did when customers booked through the agency, as the commission fees you paid to them are likely to have been higher than this.

By booking directly with the owner, customers also save the booking fee that most agencies charge. All in all, potential customers stand to save in excess of £100 per booking, often much more, if they book directly with the owner.

Contacting previous customers

Before contacting previous customers, it is important that you read your contract carefully, as some agencies include clauses restricting you from bypassing them and depriving them of their commission fees. If your are thinking of doing this, it is important to make sure you do not sign a contract that forbids you from contacting past customers. It may be wise to employ a solicitor who could advise you whether or not the clause is legally enforceable, and to ask yourself whether or not the company is likely to pursue it. It is impossible for an agency to forbid you to contact previous customers forever, so it may just be necessary to wait a reasonable length of time before pursuing them.

It is worth remembering that however you decide to market your property, either by yourself or through an agent, the single most important factor that will enable your future selling strategy to work is your past customers. If your guests have enjoyed themselves and had a good holiday, they are likely to tell their friends and family.

A good way of contacting previous customers is to send them a Christmas card and enclose your property brochure and price list. Guests who have holidayed in your property in the past may well have forgotten how much they enjoyed their stay, and a reminder is all they need to encourage them to repeat the experience.

Whatever you decide, whether you stay with an agency or go it alone you must always bear in mind how much work is involved in successfully marketing a property. Don’t look at your agent’s commission fee as wasted money – they are providing you with a valuable services and generating customers as well as offering expert advice. Resist the temptation to be greedy. Do you really have the time, energy and patience to do all the work yourself just to save a few hundred pounds?

If you do decide to go it alone and take on the task of marketing the property yourself there are some very important things that you need to consider:

Advertising

How are you intending to advertise your property? An agent is likely to have a budget of thousands, possibly millions, of pounds to spend on advertising and can therefore reach a wide audience. You, on the other hand, will probably have a limited amount of money to spend on advertising your holiday property and it is therefore important to spend this money wisely. Think about how much you wish to spend and when and where you are going to advertise. If you work in a big company and have a lot of colleagues, you may like to start there, perhaps by placing a flyer on the notice board. Friends and family are also a good place to start, although it is important o remember that unless you have a huge family and an endless supply of friends who go on holiday often, you are unlikely to make a lot of money from the people you know. Often friends and family will expect to holiday in your property at a reduced fee or, even worse, free of charge. Make sure that your family and friends are aware that you are hoping to use your property as a business venture and therefore make money from it.

You will need to prepare a flyer or small brochure to send out to potential customers who enquire about your property. If you have a camera and the use of a computer and are reasonably confident, you should be able to prepare a brochure yourself. You will need to include a short description of the property, the number of people it sleeps, its location, availability and price list, together with your telephone number for people to contact should they wish to book. Try to keep the brochure simple and on as few sheets of paper as possible in order to make it cost-effective. Remember there will be a percentage of your brochures that will end up in the dustbin!

It is a good idea, if you have the knowledge, to prepare a website to advertise your holiday property. A large number of people use websites to source and book their holidays.

It is a good idea, if you have the knowledge, to prepare a website to advertise your holidiay property. A large number of people use websites to source and book their holidays.

If you are not confident that you have the ability to produce a brochure or website for your property, you may like to instruct someone to do this for you. Remember that you will have to pay for this service and, although it may be a one-off payment, it will eat into your advertising budget. It is a good idea to produce a price list separate to your brochure which you can insert. This will enable you to increase or amend your prices as and when necessary, without the need to reproduce the entire brochure, therefore cutting down on costs.

In addition to notice boards at work, you must think about other places to advertise your holiday property. National newspapers are very expensive and it is therefore unlikely that this will be an option. Local newspapers are much cheaper but even these can add up if you are intending to advertise your property on a regular basis. Posters and leaflets in shop windows may generate a small amount of business, although this method is unlikely to attract sufficient customers to enable your holiday let business to be a success and make a decent profit.

It may be a good idea to put a poster in the window of the property itself, when it is empty, advertising itself as a holiday let. However, like posters in shop windows, this will only reach customers who are already familiar with the area and not potential customers searching for a new destination.

Below is an example of a brochure/website page for a holiday property. The details can be altered to suit either a brochure to send to potential customers or a webpage.

Selling

Are you good at selling? If you decide to market the property yourself rather than through and agent, you will need to make the most of every opportunity. Whenever you receive an enquiry from a potential customer you will need to sell your property to the best of your ability in order to ensure regular bookings. Never be tempted to lie about your property in order to make it sound better than it really is, as this will only result in disappointment and complaints if the property is not up to the standard you have described. If you have done your homework well, chosen a good area, a suitable property and furnished it to a decent standard, you will not need to exaggerate its potential in order to secure bookings. concentrate on the property’s good points and use your knowledge of the area and the facilities to inform prospective holidaymakers of what your property has to offer. Make sure the person enquiring about you property wants to book before your telephone conversation is over.

In order to maximise booking potential, it is vita that you are available when customers want to book. Think about the hours you work and the times you will be available to answer the telephone and take bookings or send details. The vast majority of holiday-nakers tend to confer with their partners or families about their preferred destinations and therfore weekends and evenings tend to be popular times for enquiries and bookings. Are you available during these times? It not, consider giving out an alternative telephone number on which you can be contacted, perhaps your business number if this is appropriate. Missed enquiries and bookings should be avoided at all costs!

Administration

Another important factor to consider, which will inevitably take up a good deal of your time, is administration. In addition to mailing brochures and taking bookings, you will need to think about your ability to:

• 1.Organise a booking system that is simple and easy to use, so that you do not miss bookings or double book.
• 2.Develop a system for cancellations.
• 3.Handle complaints.
• 4.Organise a system to handle payments. Will you have credit card payment facilities or will you only accept cheques? Will you request initial deposits with payment in full before or after the customer has taken their holiday? Think about how you will chase up payments if they are not forthcoming or if the cheque bounces.
• 5.Organise a system whereby you can accept weekly rentals, short breaks and weekends.
• 6.Handle situations whereby guests have caused damage to your property.
• 7.Decide whether or not you will accept pets, and if so, how many and will you charge extra for them? How will you monitor the number of pets clients take?
• 8.Provide the facilities required to run a holiday let business yourself. Ideally you will have at the very least a computer with email connection and a telephone. A filing cabinet, stationery and fax machine may also be worth considering. It is probably true to say that most customers prefer to book a holiday through a reputable company and by marketing your property yourself you will already be alienating some of your potential customer, so it is vital that you show professionalism to the people who are considering booking with you direct. The price of a holiday let can vary considerably depending on the size and location of the property. A week’s rental can be anything from a couple of hundred pounds up to a thousand pounds or more. Would you be happy handing over £1,000 to someone who is often unavailable and provides a shabby brochure and correspondence scribbled on a scrap of paper? You Will need to send out letters, booking confirmations, payment requests, receipts, property directions, etc., and all these should be presented in a clear, professional way. Your customers will expect the same service from you as they would from an agency and it is up to you not to disappoint.

Accounts

Although you may wish to market your property yourself, it may still be worth considering the services of an accountant if you are not familiar with the system or your are unaware of the advantages on offer. The financial aspect of running a holiday let company is covered in greater detail in Chapter 10 of this book.

Before deciding to market your property yourself, it is vital that you consider all of the above points. You will invariably save money if you decide against using an agent; however, if you weigh up the amount of money you save with the considerable amount of time you will have to devote to your holiday let business, you may well decide the saving is not worth it. Sometimes it is worth paying an agent, particularly in the early days when potential customers are thin on the ground and you have little experience. While every property is different, and every area has something unique to offer, so too has each property owner. Some people may love managing a holiday let themselves and enjoy the selling and paperwork involved, while others may be filled with dread. The type of person you are will help you to decide whether to go it alone or employ an agent.