"Whether you will be dealing with guests directly, or you’re leaving that to your property management company, you should aim to create a booklet of information or a download guide that provides your guests with all the information they should need during their stay."
Overseas property experts from Property Guides have revealed seven tips that should help holiday homeowners manage their holiday homes abroad - from creating arrival guides for guests, to simply getting the timing right.
If you're in a position to invest in a second property overseas, the financial benefit of renting it out is obvious. It doesn’t make much sense to leave properties empty for months just for the luxury of keeping it available for personal use, as even an empty house incurs bills and recent rises in the cost of living around the world can make this an even harder pill to swallow.
But managing an overseas property rental isn’t always easy.
1: Check the rules
Different countries and regions have different rules about what’s legally required for you to rent out your second home as a holiday home temporarily. Some require you to obtain a special licence or permit, for example, while others ban you from renting out your property to tourists entirely. So check the relevant rules and regulations before you proceed with anything else.
2: Meet different agents
If your rental property is abroad, it’s likely that you’ll need to engage a property management company and if you want a hands-off experience letting your property abroad, you should look at full management options.
This means that when the time comes, your chosen rental agency will take care of everything - from advertising and bookings to cleaning, change-overs and guest enquiries, as well as general maintenance. In return, they’ll keep a cut of all rental bookings (typically 25-30 per cent).
3: Get the timing right
It may be too late in the year to prepare your property for the 2023 season, but if you aim to have your property ready by the end of the year, you’ll be in time to take bookings for the 2024 season. According to the agents, many holidaymakers start booking their summer holidays in the preceding December. For properties new to the market, the agent will need to take photos and prepare its listing, which means it should ideally be ready by the end of November.
4: Create a website for your property
If you decide to handle some or all the marketing and reservations of your overseas home rental, you should consider setting up a website advertising your property. It should contain details about the apartment, links to reservations bookings sites and contact information so guests can make direct reservations. You could also include information about what to do in the area.
5: Create an arrival guide for your guests
Whether you will be dealing with guests directly, or you’re leaving that to your property management company, you should aim to create a booklet of information or a download guide that provides your guests with all the information they should need during their stay. This can include directions, emergency contact information, local taxi numbers, and recommended restaurants, bars and attractions. Think of it as your guests’ holiday ‘bible’.
6: Deal with repairs ASAP
No matter how well your guests respect and treat your property, over time it will require some repairs, just like any home does. Whether you’re opting for long or short-term rentals, it’s still important to deal with repairs as soon as problems arise.
Don’t just leave this task to your property rental manager. If you have the time on your hands, you can always keep your own file of trusted contacts of tradespeople who can deal with all the repairs. These include electricians, carpenters, and plumbers, among others.
7: Visit your property whenever you can
Whichever management method you choose, you should still try to visit your overseas property as often as realistically possible to check on everything. Chances are that because it is your property, you’ll tend to notice the finer details that require immediate attention.
Christopher Nye, senior content editor at PropertyGuides.com said: “Purchasing a home abroad is a dream of many, typically coming up in most conversations when people are asked what they would do with lottery wins.
“However, if you’re looking to buy a home to rent out to others, there are a few things you need to ensure that you do first, as renting out a property in the country you reside in can be difficult enough, never mind when you’re thousands of miles away.
“But fortunately, like most things, adequate research and prep can usually land you in good stead.”
