Rent Out Your Holiday Home

Over the last twenty years or so, the number of people owning second homes has increased enormously. This is especially the case where people own second homes outside their country of normal residence. Naturally, if you rent out your home, there is an increased chance of breakages and general wear and tear will be higher. … Continue reading “Rent Out Your Holiday Home”

Over the last twenty years or so, the number of people owning second homes has increased enormously. This is especially the case where people own second homes outside their country of normal residence. Naturally, if you rent out your home, there is an increased chance of breakages and general wear and tear will be higher. On the other hand, unused properties often suffer problems. Because of a number of factors, property prices for villas in Northern Cyprus, and indeed, Cyprus as a whole, have been particularly badly hit by the current climate, but the situation holds true all over the world. Many people who own Cyprus villas, and holiday homes in other countries, are opposed to the thought of renting out their property, but why? Of course, nobody welcomes the ideas of strangers living in their holiday villa or apartment, but do problems inevitably follow? Of course, this is an ideal holiday rental situation, as the demand for property is at its highest during the peak summer periods. There are an increasing number of companies offering internet-based marketing for overseas property rental. Offering the property through travel agents and tour operators is a possibility, but they are likely to want to take a fairly substantial commission on every booking, whereas internet companies mostly work on a ‘fixed fee’ basis. You can also offer the property in the area where it is based. This will initially only result in people looking for long-term rentals, which is another market altogether. However, people on holiday may see the adverts and look at the idea of booking in future.
Overall, the problems resulting from renting out your holiday home are few, and certainly help to offset the costs in the first place.