Yes. One of the most common reasons why people choose to rent their holiday homes is to cover their expenses. Is your plan the same?
Some owners might have bought their home as an investment during the property boom years, and want to wait until the market goes up before they sell, but don’t want to have to shed out for any more expenses until then. Others managed to get a great deal on house or apartment they wish to retire to one day, and are covering their mortgage and maintenance payments in the meantime. Whatever the circumstances, there’s one very clever idea that unites the majority of owners. They love to holiday in their Mediterranean villa, country cottage or city apartment, and think, "If you can get someone else to pay for you to own it in the meantime, then why not?"
Yes, you can make money from your holiday home but it takes a bit of extra work, and a lot of commitment. The majority of our owners have day jobs, so don’t have the times put all their energies into self managing. Out of all the owners on HomeAway UK, only six percent are living the dream, and manage a holiday home as a primary business.
However despite this 13% of HomeAway.co.uk owners make a profit by renting a holiday home. Around 20% of our owners have annual gross income of £16,000 or more. One of the perks of renting to holiday makers rather than long term residents means that you can put your prices up during the peak season, in some instances almost twice as much as off season.
Peak periods are dependent on the location. Properties in long haul locations, that count as summer and winter sun destinations have a longer peak period. City breaks are also popular all year round. Popular European summer holiday destinations, such as the Mediterranean resorts have a peak period which averages to about 12 weeks. These traditional locations more than make up for their shorter peak season by constantly being in great demand with travellers.
