How to make money from your holiday villa

Don’t feel guilty about owning a villa! With this blog I am hoping to share what I have learnt (not just owning property but also dealing with owners as a letting agent). Treat it as an investment: you can make money from it and enjoy it at the same time.

Here are a few general pointers. I’ll go into detail in subsequent posts.

1. Use a local property manager. A good local manager looks after your house when you aren’t there and takes care of repairs, maintenance and so on. S/he advises you on property laws and finance, and puts you in touch with agents.
2. Use a letting agent. You won’t get as much money as you could if you don’t know what the market is doing. If you don’t know what the market is doing then you don’t know how much to ask for the house: too much and you get no bookings, too little and the house is full of bad (cheap) tenants who could be paying you more.
3. Don’t use a letting agent. Do it yourself. Websites like owners direct will give you a good idea of what rents you should set, and all you need to market very effectively and at very low cost.
4. Don’t have unreal expectations about letting. Expect mid-July to end-August to be full, but anything else is a bonus.
5. Set your rent low. Europe is oversupplied and many houses stand empty through the summer. Do not believe the talk in the pub. The less you ask, the more you will get.

Like I say, more details about these points in future posts.