The accidental holiday home owner

Image: Simon Howden

Due to the current economic situation, a new kind of holiday home rental owner has emerged, I like to call them, 'the accidental holiday home owner' and there are plenty of them about.  They are different from the usual holiday home owner who's second home is their love, and sometimes their passion.  Many have bought their homes as a second home, to be used as a side business, extra income maker until they retire to their dream home.

But the new 'accidental holiday home owner' is different, most have bought their homes as an investment.  In the case of Portugal, many bought during the property boom with a view to a quick profit but have found themselves stuck with a property they cannot sell and so have turned their mind to holiday lettings in a view to retain and reclaim their investment.  This is not what they had planned, and they have had to be resourceful and more importantly learn new skills and understand a new type of market. They have a different agenda than your normal holiday home owner with a much stronger focus on the financial side of the business.  But in order to achieve your financial needs, you need to have a clear plan.   I have a couple of Home owners through my role as a Letting Expert with Tots to Travel who are exactly this type of home owner and have had to change their direction and do something completely different to their original plan and they are doing it quite well.  They have found their niche (the family market) and know what they want to achieve and are learning as they go.

But not all in this position can be so lucky, if you are in the unfortunate position of having invested only to find your investment effectively trapped in the downturn with payments to be maintained it can be terrible.  They never imagined or wanted to be in the 'holiday letting' market and are like a fish out of water.  Holiday lettings can be time consuming, especially for the inexperienced or those who do not want to do it, property management companies can be an effective solution but finding the right one, especially for your budget is not always easy.

If you are feeling out of your depth and need some help, now is the time to ask; with only a few weeks left before the critical new year booking season.  To find out how I can help, contact me, to discuss your options and a way forward.

5 Things a Holiday Home Owner should do!

Now these may seem basic things but you would be surprised how many people do not get this right.  If you have read some of my recent posts, you would see that I have been looking for a holiday rental for a late season break and these are the things I have come across, not in a huge amount of listings but enough to correspond to probably 10% of listings have one of more of these issues going against them.  For me, these are a complete turn-off and tell me that the owner is not bothered about their listing, so what is their service like from that point.

1. Photos - I cannot say this enough, good photos are essential! Most people do not look past the photos, that is what draws them in to look at the other information.  If the photos are unclear or just plain bad, people will go away.

2. Links and emails - must be correct and working, several times I have come across email addresses that do not work or links to websites that go nowhere.  In the case of the email addresses, I think it is essential in this modern age of smartphones etc that people take enquiries via email.  For me as a customer, I do not want to have to phone a home owner if I am looking at several options.  This is an instant put-off for me.

3.  Use a marketing mix - this means using several forms or sources of marketing.  The best idea is to mix and match with a large scale advertiser or listing site, such a Owner Direct or Holiday Lettings and a smaller, more niched advertiser.  It is not wise to advertise through only one advertiser, you run the risk of not being seen by a big enough market and also that they may not do well for you, amongst other things.

4.  Identify your customers - In terms of who you market to, select a type of customer who your property appeals to, put yourself in their shoes, be realistic.  If your property is half way up a mountain on a dirt track, you will not appeal to beach lovers or young families, no matter how nice your property is furnished and decorated.  Find a niche or selection of customers who you appeal to and aim your marketing at them, don't try to sell to everyone, as you may end up selling to no-one or at least lose potential sales.

5.  Assess the market - every year, sometimes more often, you should assess the competition, what makes you different, what are your unique sales proposition (USPs), are you effectively selling these?  Also assess the pricing, has the market pricing changed, has it risen or reduced?  In whatever case, try to understand why that is and how you should react to that.  If prices have dropped, don't just follow suit but instead add value to your rental through adding services or facilities.


It is vital that you get the first step (the customer looking at your listing) right, otherwise everyday you are potentially losing leads and bookings, can you afford that?

For a FREE book on how to fill your empty weeks, click here

How important are holiday letting websites?

If you are currently considering the purchase of a holiday home which you are going to rent for income or if you already have a holiday rental home and are maybe reviewing the effectiveness of your current choices, this is a really interesting article looking at some of the options you have, well worth a read.

http://www.jamesdearsley.co.uk/2010/12/how-important-are-holiday-letting-websites-to-your-overseas-property-purchase/

What I particularly liked and thought was great advice was to go with a large advertiser with international coverage rather than a local agent but also to add a niche market - something which sets you apart from the others and let a market segment find you effectively, rather than being lost in the 1000s of other similar properties. 

What is niche marketing and how can it help you?

What is niche marketing and how can it help you?

Niche marketing means developing and marketing your product or service at a specific sector of the market, thereby satisfying your target markets specific customer needs.  Marketing by companies generally falls into two categories, mass marketing or niche marketing.  Mass marketing is normally used for a general everyday product and the sources of marketing are mass media such as, TV, billboards and newspapers.  With niche marketing the marketing sources are much more targetted at their specific customer base using methods such as, social media, emailing and traditional mail-outs to their client base.  Niche marketing is particularly used by smaller businesses who understand they cannot compete with the big brands or multi-nationals, but can on a smaller, specific market base.

How can niche marketing help you?

Well depending on your product and size of your company and resources, such as marketing budget, niche marketing may be a much more effective way to reach your customers.  But you need to know how to do and especially, what your customers want. 

Do you know what is your target market specifics?
Do you understand your customers needs and wants and buying behaviours?

The problem for many holiday rental home owners is that they do not understand the need for effective marketing or have the skills to do it.  They use mass marketing, such as holiday listing websites and find themselves lost amongst 1000's of other homes all the same as theirs, unable to make themselves stand out and therefore sell and improve their rentals.  Having a marketing mix and niche marketing is the way forward.  It doesnt need to take too much time, but a little effort and some information could go a long way.

If I can help you in this way, please contact me and I will be happy to help.