Spending time in your holiday home here in Spain may get you thinking that when you are not over here, you could be getting a useful income to supplement your purchase.
Renting of course is a great way to get a financial boost, and there are various factors to look at.
As is the case with most things, letting out your holiday home is going to come with tax implications. If your rental income is more than £2,500, you need to report this on your self-assessment tax return. However, if you decide to let your holiday home for the majority of the year then you could qualify for several tax reliefs, such as accounting fees and insurance. Bear in mind that these could change in the near future when Brexit comes into play.
Stay in your home at least once a year, and that will highlight any issues such as low water pressure, missing kitchen utensils or any small improvements that could be made.
Make sure that any renters get a good stay for repeat custom and recommendations, like having comfortable beds and good quality bedding, which are usually number one on the list of desirable qualities. Similarly, lack of or slow WiFi can be a great annoyance to guests, especially if your home is in a more rural area.
it is important to have someone trustworthy to manage your home, and there are many companies that will do this for you, but just be sure to do your research first. Finding the right people will ensure that managing the property won’t cause a headache for you.
With websites such as AirBnB, renting your property has never been easier. Make sure to take good quality, inviting photos of your home as this is the first thing potential guests will judge your listing on.
Enlist the help of a good photographer if you don’t think your skills are up to scratch as this could make or break a booking. The review section is another critical factor that potential guests will take into consideration, so encourage happy guests to leave them and reduce any factors that could prompt a complaint.
In conclusion, enjoy your home, take note of these tips and enjoy a profit from it while you’re not using it.