A holiday home is not just great as a family retreat but can also be a financial asset, earning you money with guest rentals when you are not there.
However, managing a holiday home from afar is not always easy, particularly if you don’t visit often. Your investment needs to be well cared for to maximize rental income and always look pristine when you want to stay.
Here are some tips for taking care of a holiday property from afar.
Use a Property Management Company
Some holiday homes form part of an extensive development where property management services are part of the purchase package.
There are plenty of examples of this, such as luxury real estate in Panama Pacifico, one of the largest mixed-use developments in the Americas. Here, a dedicated property management team offers a full range of services to international renters and owners.
Properties like these are purpose-built for letting and located with easy access to all the facilities and services any homeowner could want. But what if you have chosen something off the beaten track?
Remote Holiday Homes
Remote holiday homes have real appeal; off the beaten track and away from the relentless buzz of 24/7 living, they are a real getaway from it all escape. In the internet age, remote is right on-trend.
However, the remoteness of these holiday homes can prove challenging when it comes to day-to-day management and property maintenance.
There won’t be a handy property management company to sort out cleaning and laundry or be readily available for DIY and repair jobs. Instead, you will need to source someone locally who you can trust and who can act as a caretaker in your absence.
The internet is an excellent place to try and find a local couple who can cover all the tasks you might require.
Local knowledge is also valuable when it comes to sorting out problems with the property or managing difficult situations like a loss of internet cover or a natural disaster.
Sourcing contractors and suppliers to repair and maintain the building in a rural or remote location is hard to do if you don’t live nearby. But remember always to retain a critical faculty regarding companies recommended by the people who look after your property — they could just be feeding business to their friends who may not be the best choice for the job.
Some holiday letting companies will offer a property management service even for remote properties, but then there is remote and remote! Always ask the vendor when you buy a remote holiday home who they use to service it.
If you are buying a holiday home, managing it from afar should be one of your key considerations. Otherwise, it can just become a headache. There are many comprehensive guides online that can help you to choose the right property.
Excessively remote properties will always have a more limited market appeal as they lack the amenities that many holidaymakers still insist upon even when they are on vacation. Make sure you factor property management into your purchasing decision; otherwise, your shiny new holiday home could just become a costly and irritating burden.