AIPP • HOW T O LET OVERSEAS
But, as the popularity of rental properties over package hotels has soared, holiday homes can be investments as well as luxuries. Renting out your overseas property can help with the
A HOW TO LET OVERSEAS
Renting out your holiday home can help pay its costs or even bring you an extra income. But what are the secrets of success?
mortgage repayments and upkeep costs, or even earn a good little income if chosen and marketed wisely. However, bear in mind that if you want to buy
somewhere with rentals your top priority, your choice of location, size, and type of property will all need to be researched carefully, compared with somewhere you already own for lifestyle/personal reasons. Generally, certain types of property rent best because
they have year-round appeal. These include apartments in popular city-break destinations – such as Barcelona, Paris and New York – as well as those in tourist resorts with year-round sun, such as Magaluf, Palma or the diving hotspots of the Red Sea. Golfi ng developments can also rent well for three seasons of the year, and mountain resort homes can fare well if they capture both winter and summer tourism markets. Access is also key. A transfer time of 90 minutes or less to the nearest airport is a plus, and don’t forget that what might seem charmingly out of the way to you, might not appeal to your guests. The type of property is also relevant. Two-bedroom
properties are generally the most sought after, but in family oriented areas such as Central Orlando, three-bed villas can do best; and in ski resorts, one bedroom with lounge sofa-beds can be just as popular. New-build properties are generally easier for upkeep, and those on communal developments can offer amenities as selling points; those that have a private pool command a premium. Do check renting regulations if you live on a communal development, though.
26 AIPP CONSUMER GUIDE
few years ago, a large proportion of our holiday homes stood empty for great portions of the year, gathering dust and losing us money.
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