points to consider as a property owner letting out rented holiday vacation accommodation
1) PRICES: Make sure that
the price is competitive.
If the rental is too high it will not
attract visitors. Ensure that the prices are kept up to date on your entry on
2) LOCAL AGENT: If you do not live near the holiday property,
you must employ a good local agent who can check your visitors in and out, arrange
cleaning, routine repairs and replacements, arrange linen hire or a laundry service
and keep an eye on the property when it is not occupied.
The agent should
be able to provide a "Welcome Pack" if you want to provide one - bottles
of wine for example or more if the visitors are arriving late.( milk bread, coffee
etc) You should provide your agent with the visitor's contact details and vice
versa so that they can contact the agent if they are delayed or lost. You might
also consider leaving a bottle or two of wine for all guests.
agent can of course be a friend or relative living locally, but it should be a
business relationship and the agent should be paid.
3) RENTAL AGREEMENT:
If you are letting a holiday property in France you must provide a written agreement.
In other countries, although it might not be a legal requirement it is advisable
so that your terms of rental are clearly agreed.
The document need only
be 2/3 pages in length and include the names of the visitors, the dates of the
rental. The amount of damage deposit you are going to hold, The rental price,
cancellation of rental charges. Additional costs e.g. electricity, linen hire
A clause stating that if a local agent has to meet the visitors at an
unsocial hour, then any additional costs paid to the agent will be paid by the
renter. If it is a legal requirement in the country concerned that the renter
takes out insurance, then add it into the agreement.
It is essential that you have an inventory of the contents that can be checked
in with your guests.
Either the owner or local agent should politely point
out that if the visitors break equipment, if they are glasses for example then
they should replace, if it is more serious - bed, window etc, then immediately
5) PROPERTY HANDBOOK: Provide a ring bound folder with
some notes about the property - how the hot water system works, where the rubbish
should be put, information on local shops, restaurants and attractions etc.
6) INSURANCE: You must make sure that your property is properly covered
for holiday lettings. You should advise the insurance company that it is being
let for this purpose. In some countries (France for example) the people renting
must also take out insurance by law, but you must also be covered. If you are
looking for a policy visit our Insurance
7) LOCAL REGULATIONS: You should ensure
that your property complies with the country regulations for safety issues.
In Britain for example a holiday home must have furniture that complies
with the fire & furnishing safety regulations and displays the appropriate
safety label. There are also gas and safety regulations in certain countries.
If in doubt talk to the local Tourist Office in the area your property is located
In France, rental
properties with more than 5 bedrooms are legally classified as a small hotel.
Hotels are classified as public buildings requiring specific fire protection such
as fire doors and officially approved smoke alarms. These regulations are enforced
by the Mairie. Although there is no specific legislation for fire safety in in
private properties or rental properties with less than five bedrooms in France,
in any country the owner must have a duty of care to his/her guests and install
basic fire protection such as smoke detectors, fire blankets and fire extinguishers.
It is suggested that the emergency services numbers are included in any Property
8) TAX: It is advisable to consult an Accountant
regarding any tax liability from letting out your holiday property. If
you invest in overseas property you must declare the profits in the UK. Unless
you are classified as non-UK domiciled, you are taxed in the UK on all your income
and gains wherever these profits arise. If you let your overseas property you
should inform the tax authorities where the property is located, which will sometime
mean completing a tax return in that country. The income and expenses from your
foreign property must be listed on the foreign income pages of UK tax return.Any
foreign tax you pay on that income can normally be off-set against the UK Tax
duew where a double taxation agreement exists between the UK and the country where
the property is situated. Remember other countries have different rules for tax
deductible expenses. Take professional help.
9) AVAILABILITY: Ensure that the Availability dates are kept up to
date on your entry on jmlvillas.com
10) PRESENTATION (for web photos
- brochure) Make sure that you submit good clear photos of the property. Sun
shining on it, blue skies help. Make it look more inviting. Consider having the
dining table set, a bottle of wine on the table as well. Beds should be made up,
leave the television on and internal lights as well (particularly lamps on tables
and units that can be seen in the picture). Try to avoid having people in the
photos. If you need extra ideas, just take a look at some of the property lifestyle
magazines available in newsagents in most European countries.
PAYMENT OF RENT: Do take great care when
accepting rental payments. Some people are able to accept credit card bookings,
but for the majority they are dependent on payment by bank transfer or when the
- RENTAL SCAMS IN HOLIDAY LETS CLICK
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great care — if someone is making a booking well into the future, the ideal
situation is to obtain a booking deposit at the time of booking and the balance
two months before they are due to arrive. Stipulate those terms in your rental
agreement and also on ay printed booking forms.
Good luck with your holiday lettings and if you have any further tips
for property owners to be added here, please
email them to us.
Please note this guide has been compiled
from experience and jml Property Services takes no responsibility for the accuracy
of its content.
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