Renting out property is a creative way to make money in South Africa.
While it can be overwhelming when launching your project, a successfully run holiday house ensures you have an additional steady stream of income to rely on over the summer months. Having a second income helps you live comfortably, especially when the cost of living continues to stagger.
But, in order for your private property rentals to make enough money for your needs and wants, you need to come up with a plan that will ensure you are able to get a steady income, even during off-peak seasons. Holiday homes have become popular in South Africa, especially during the festive season and on-peak travelling seasons. But, they can hit a low during the off-peak season.
This article’s tips can ensure your holiday home brings you money all year round.
Use advertising that works
For you to get a steady holiday rental income, people need to know about it.
To do that, you need to advertise effectively, in a way that will ensure people know about your place. To reach your target audience, you need to identify who your audience is and what their interests are.
Once you have an idea of your target audience, then you can use your marketing and advertising efforts to attract your potential customers. Make sure you advertise your holiday home on platforms that will get traction, such as social media and community forums in the neighbourhood. Using platforms like social media will not only help your holiday home in staying relevant, but it also gives you the opportunity to showcase what makes your holiday home the perfect place to go to. After all, they do say that a picture is worth a thousand words, so show people that through visual images.
Have a website for your holiday home
If you’re sceptical about creating a website for your holiday home, we are telling you right now that you need it. Peoples online presence continues to grow, and the majority of their research is based online. From ordering food to buying clothes or simply reviewing a place for their next holiday.
Renting out your home for the holidays won’t get you anywhere if people don’t have a place to view it or read other peoples’ reviews. Social media, on its own, can be helpful, but having an active website where people can see what you offer can be a game-changer for your holiday home. Having information all in one place is exactly what a potential customer is looking for. If they see you take this business seriously, customers will trust your facilities and spend their hard-earned money with you.
Give your guests more
If you want your real estate investment to succeed, you need to go above and beyond to show your guests why they should choose you. For example, if your holiday home is near a lake or ocean, then having a boat your guest can rent out will be a game-changer. This will mean that they can enjoy outdoor activities among friends or make it a family outing. This also means that they can spend a day fishing without having to bring their own equipment. This makes your place not only a beautiful destination but one that offers your guest convenience. If you’re thinking about the cost of financing a boat, you can get leisure finance in South Africa. Leisure finance allows you to take a loan amount that can cover leisure expenses such as a bike, boat, jet ski and more. Of course to ensure you get profits you can rent these out for a fee. Customers who enjoy adventures will not have a problem with paying for more if it gives them experience.
Have consistent home improvements
Your guests want to stay in a place that is Instagram ready. They want to feel like royalty when on holiday, and it’s your job to make it a reality. When you buy a holiday home, you need to keep improving it in order for it to bring in customers. By beautifying and sprucing up the place, you ensure that people come back for more and that you create customer advocates who will share your beautiful holiday house on their social media. This will, in turn, bring in new people as they see pictures on Instagram. You can apply for a personal loan to help revamp and give the place a touch of luxury in a way that will get people talking and coming back for more. Once you have a plan for what you wish to change in your holiday home and know how much you need to execute those changes, you can use an online budget tool to help calculate your loan repayments. That way, you know exactly what your repayments are and how you can manage them.
Treat your guests like royalty
The way you treat your guests sets the tone for their stay. From the enquiry stage to the booking stage, you need to connect with them on a human level and not just another transaction. Human connection matters to customers, and it will help them see the value of your business, which, in this case, is a holiday home. You want your customers to leave with a smile on their face and recommend you to their friends and family. You want your customers to write heartfelt reviews and testimonials on social media, and on your website because your potential customers are watching. Customers thrive on reviews and testimonials, so you want to ensure they work in your favour. Make sure you have personalised messages and treats on their arrival and always be available for any enquiries.
To reach your financial goals and make your second income work for you, you need to put the work and money in it. Modernising your home, offering valuable entertainment for family and friends and creating a picture-perfect holiday home all play a part in catching your customers attention in a world that is always demanding it. Your holiday home needs to be a destination place people imagine themselves going to, and it needs to exceed their expectations when they get there. So, get to work and start revamping, advertising and offering your guests more.