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 jmlvillas.com
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. 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.
The 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 etc.
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.
4) INVENTORY: 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 report it.
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
section.
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.
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 Handbooks.
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 due 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.
11)
PRE - LETTING CLEANING: -Make sure the property is clean
and tidy before the guests arrive. At jmlvillas.com we
have received complaints that the property was dirty and
even someone still in there when a guest arrived in the
early afternoon. Make arrangements to have the property
cleaned thoroughly in between lets and if it stays vacant
for a while between a let, have it cleaned before the new
guests move in.
12)
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 guests arrive. A jmlvillas.com client
has recently had a rather disturbing rental booking which
has turned out to be a scam. Fortunately, they were not
stung but they thought other owners should know what is
happening as something similar could occur with your property.
For
more information See
also CLICK
HERE for Rental Scams in Holiday Home Letting
Take
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.
13)
RESTRICTIONS ON GUESTS: If you do not want pets, smokers,
small children etc, state this clearly. Remember, however,
the more restrictions you make then the size of your rental
market will decrease. If you require more information on
taking pets in and out of the UK and Ireland CLICK
HERE
14)
RECORD
KEEPING FOR PROPERTY OWNERS: As
a property owner ou are required to maintain complete records
of all expenses incurred and the income received from your
properties. This means that you must hang onto every
relevant receipt and keeping details of any personal assets
you used for the property business. An example of this would
be to note down the details of all journeys you make concerning
your property's business, the portion of your home used to
process related paperwork and time spent on your computer
carry out work for the property.
You
should retain all bank statements and all records have to
be retained for five years after the tax return filing date.
Any receipts regarding property improvements should be kept
for six years after the end of the tax year in which the
property is sold. If you don't keep tax related records
you could face a UK fine of £3,000.
15)
SWIMMING POOLS: Remember
that many countries nowq have specific rules for swimming
pools (alarms / fencing in France). Ensure you are properly
insured, arrange for a regular maintenance contractor to
check it and if it is a Communal pool remember to advise
your renter guests that it could be closed for a maintenance
project during their stay. There are occasions when they
have to be drained or r-tiled and will be out of use for
several days)
CLICK
HERE for Holiday home website payment scams for advertisers
CLICK
HERE for Article Who's
Been Sleeping in My Bed – The Problems of Sharing Your Holiday
Home with Paying Guests
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. jml
Property Services taks no responsibility for any bookings
or dealings between a renter and a property owner