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Five Ways to Boost Holiday Let Profitability in Peak Season

The days of simply listing your property on Airbnb and waiting for the bookings to roll-in are sadly over. With the holiday-let market more competitive than ever, and 2024 predicted to see continued growth in the industry, it’s key to stand out in a saturated market to secure bookings.

To help, Pikl Insurance has shared 5 tips for maximising profitability for the peak season.

  1. Prioritise Good Reviews

“The most essential thing to understand is that prioritising good reviews is paramount. Positive reviews not only enhance your property's reputation but also enhance visibility on booking platforms, leading to increased interest and bookings. There’s lots of ways you can do this, the first being by ensuring that your property is always impeccably cleaned by investing in a top-notch cleaning service. Paying attention to the little things can make a big difference too. Providing amenities such as coffee and tea, toiletries, towel or coat hooks, and extra pillows and blankets can enhance the guest experience and leave a lasting impression. Take the time to leave an itinerary of local walks and eateries for guests to peruse. These thoughtful touches demonstrate your commitment to guest satisfaction and can result in glowing reviews and repeat bookings.” 

  1. Choose a neutral modern style

“In addition to impeccable cleanliness and thoughtful touches, updating the style of your property can also boost its profitability. Take inspiration from platforms like Pinterest to identify current design trends, and invest in modern furniture and home accessories to give your property a refreshed and luxurious look. A modern and stylish interior not only attracts guests but also commands higher rental rates, ultimately increasing your profitability.You’ll also want to opt for a neutral colour scheme, particularly with bedding. While personal style preferences vary, a neutral colour palette appeals to a broader audience and ensures that your property remains attractive to a wide range of guests. Avoid overly themed or heavily decorated rooms, as these can deter potential guests and limit your property's appeal.”

  1. Invest in professional photography

“You’ll also want to invest in professional photography for your listing. High-quality photos showcase your property in the best possible light, enticing potential guests. Professional photography can make your property stand out from the competition and elevate its perceived value, leading to higher profitability.”

  1. Use a holiday letting agent 

“Consider letting your property through a holiday letting agency, rather than directly on online travel agents such as Airbnb and Booking.com. Whilst they will charge you a higher commission, there are significant advantages which drive higher occupancy. These include price optimisation, listing your property for you across numerous online travel agents, and they can often handle cleaning and maintenance. Ultimately, you may end up with more profit by taking this route, whilst having their expertise to guide you. Furthermore, should you list with a holiday letting agent with a grading scheme, engage with them on the grading criteria and how you can achieve a higher star rating. Many will use a recognised scheme, such as VisitEngland, which can prove a useful guide to what to provide guests in way of furniture, furnishings, even down to how much cutlery.”

  1. Optimise your listing

“Should you wish to list directly on the likes of Airbnb and Booking.com, especially if your holiday let is outside the UK, then optimising your listing is another key strategy for maximising profitability. Ensure your listing title and bio include relevant keywords that potential guests are likely to search for, increasing your property's visibility and attracting more inquiries and bookings.”

* Cliff Ward is holiday let expert at Pikl Insurance *

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