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Savvy homeowners who are already on the property ladder are making the most of their position by renting out their homes as holiday homes. With the extra pocket money from holiday rentals, over a third (34%) of people are being able to splurge on their own holidays, another third (33%) fund home improvements and almost a third (31%) pay off their mortgage! The market is competitive though as many struggle to find the best price to rent their home to holidaymakers. Two thirds (66%) use other properties in the area to benchmark against their own pricing and to keep an eye on the competition. Of course the pricing of the property is an important decision to make and almost half (46%) choose to scope out hotels and their pricing points while 2 in 10 people (22%) use online calculators to find the best price for holiday-goers.
To help attract all of those holidaymakers to their home and create the most earning potential, many are wanting to make sure people experience a ‘home away from home’. Although once upon a time, a chocolate on a pillow would have been the epitome of a stay away, many are now turning to amenities like Netflix and Now TV to please their guests. WiFi has become pretty standard for holiday home rentals with almost three quarters (74%) offering it while over half (53%) are providing TV login passwords to ensure their guests can chill out even while they’re on holiday.
Aston spoke to Scarlette Douglas, TV presenter (A Place In The Sun) and Gavin Gray, holiday rental expert from HomeAway to discuss the best ways to give guests a truly great experience while renting a home and how much money homeowners can make from renting out their properties.