3 DO’S and DONT’ S for your Summer Rental Successes
The summer rental market on Ibiza is rapidly evolving. Mainly because of the rise and use of online tools. Use a proper mix of all the available marketing tools and maximize your return on investment (ROI). Second home owners might want to rent out their villa to cover some of the yearly tax payables. Investors might dig in a bit deeper and stress on the commercial value of the property to achieve the highest possible ROI. The rental space offers plenty of potential for a smart investment. With the summer season ahead, you might have already taken your decision whether to rent your property to tourists at a variable rate or to a long-termer at a fixed yearly price. Having said this, you should consider a few things that could make or break your chances for success…
DO’S and DONT’S for your summer rental on Ibiza
Get the most out of your holiday rental on Ibiza by having the following in your mind:
DO. Invest in a serious, professional and hands-on rental property manager. They will be able to help you maximize your ROI throughout the whole year. You might think that you will save some euros by doing it yourself, but for the longer term you will appreciate the value of a specialist. For instance, in the past years we have been experiencing heavy storms and a lot of rain. A property manager will always be able to check your property whilst you are not on the island and prevent bigger damages.
DO. A high level of customer service is one of the most valuable things you can offer to your clients. On Ibiza, not everything works like it should or like you would expect. As a local, you understand these issues and go with the flow, but holidaymakers will demand everything to work properly and at least, they want to be heard and like to receive a hands-on service. In the end, this will affect customer satisfaction, their reviews on your property and thus future revenues.
DO. Choose the best location for your holiday rental. Popular rental areas include Cala Jondal, Sant Josep, Es Cubells, Cap Martinet and Jesus. Be aware that the type of rental will decide the type of guests you will be attracting. If you are looking to rent your property to families, you should consider the more quiet areas of Santa Gertrudis, Sant Joan and Santa Eularia.
DON’T. Renting out your property is easier said than done. Getting your home prepared for the summer season, electronic products that may fail, getting organized on your bedlinen and towels, a full fridge to welcome your clients and many more small details could make or break the success of your rental. To leave the best impression with your clients, you should need to go beyond the expectations of your guests. Always think about how to make your clients go “WOW”.
DON’T. Never give guests a reason to complain. Complaints will trigger poor reviews based on malfunctioning basic facilities, dirty rooms, poor furnishings, bad/rude service and rates which are not in proportion with the quality you were looking to offer.
DON’T. Just listing your property everywhere will never insure you of getting bookings. Listings are the first step, but maintaining good occupancy rates involves active promotion and marketing, along with a commitment to providing a high level of service to clients. This is also the reason why many owners choose to work with holiday rental managers to ensure that their property stays booked throughout the desired period.
Need help? In case you have a villa or apartment which you would like to rent out, we would like to share our skills and experience which is required to transform your property into a guest magnet. For more information, you can always contact us.