Five Tips to ensure a year-round successful holiday rental

The Mornington Peninsula is home to some of Victoria’s most popular beach holiday locations.  But it is not just spectacular during summer – it offers year-round appeal, with quality restaurants, quaint boutiques, close proximity to Peninsula Hot Springs and some of the finest vineyards and golf courses Victoria has to offer.

Provided your property is properly presented and marketed, securing bookings during peak times shouldn’t be difficult, particularly when vacancy rates from mid-December to the end of January are close to zero.  However, if you nail the formula, your property could become a year-round business.  After over 6 years in the local property market, here’s Guest Services & Portfolio Manager, Lyn Reid, shares some exclusive insights around her experience as to what makes a successful holiday rental.

When travellers are booking a short-term rental, they’re looking for properties where they can gather comfortably, often in large numbers.  Lyn’s first tip is to get the bedding right.  “Invest in quality bedding and linen.  Make sure there is a king size bed in the master, and then maximise every opportunity in the remaining bedrooms to accommodate as many people as possible.  Use bunks and even a fold out sofa in the living room, and as an optional extra, provide a cot.  A house which can sleep larger groups means they can share the cost of renting a more luxurious home and in turn, this significantly broadens your market throughout the year”. comfortable bed

Secondly, functionality is important.  “Consider the layout and living spaces.  An open plan interior of kitchen, dining and living which extends to outdoor living space accommodates group gatherings and easy entertaining.  Also, a property with a pool or spa will almost always be booked before properties without”.

book a breakThirdly, consider interior styling.  “Believe it or not, city dwellers don’t come to the coast wanting to stay in a replicate of an uber modern inner-city pad.  They’re more likely looking for an authentic coastal experience, regardless of how modern the home is.  Obviously decor which looks and feels fresh is going to attract the most appeal, but importantly, it should be styled consistent with the property’s coastal surroundings”.

Next, comfort is a major attraction.  “Spaces which promise rest and relaxation such as large comfortable couches in the living area and outdoor sunbeds are always winners.  So too are plush comforts such as soft furnishings, blankets and throws.  Airconditioning and a fireplace promote year-round appeal, and extra amenities such as wifi and smart tv’s are important as the region can experience sluggish reception during peak times.  Make sure the kitchen is fully stocked with all the tools required for entertaining, and consider the added extras such as an instruction booklet for the home’s amenities, complimentary tea/coffee, and a starter kit of dishwashing, laundry detergent and toiletries. These small items can be that added touch which sets your property out from the rest”.

Finally, consider professional management.  “No matter how great your property, if it’s poorly marketed and managed you won’t achieve the rate you’re after.  Don’t skimp on professional photography and make sure it is current – guests will notice if a major furniture item is different from the photos and may complain the property wasn’t as advertised.  There is a common misconception that property managers are expensive and with the Airbnb juggernaut many have opted to manage themselves without fully understanding how much work is involved.  But the fact is, repeat bookings come from positive reviews and customer experiences, and a professional manager is better equipped to ensure that on your behalf”.

If you’d like more information about how can assist you with managing your holiday rental, click here to get in touch.

Written by nab79 • May 27, 2019
Share Article: twitter Facebook

Related Articles