Credit Crunch Tips

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Stay Ahead of The Crunch!!

In these financially sketchy time's its really important that owners take stock of where they are and ensure that they are making the most of all the rental opportunities that come their way. So with that in mind here are 3 great tips you might find useful.

Families save money when doubling up!
One of the main benefits to renting a holiday home is that a large percentage of homes are capable of sleeping 2 medium size families. If you are an owner that has a reasonably large property now is the time to start promoting the fact that holidaying with another family is a great way for your customers to keep down the cost of their accommodation by splitting the price with another family. Even offer a discount on full occupancy?

Make sure you are still priced competitively
Its easy to fall into a routine of pricing. Once you set up your property adverts you set a price and leave it at that. Its so important to remain competitive in today's market. Set yourself 1 day a week or 1 day a month to do a quick scan of other properties for rental in your area. Being active and making sure you are still competitively priced is key to ensuring you win those rental out there!
look around at other properties in your area to see if you are priced within the market.

Minimise your losses
If you are struggling to rent out your property try adding a sweetener to the deal. (I am assuming that you have a mortgage to pay) Try offering something like a Free theme park ticket, a free welcome meal at the local restaurant, $50.00 in fuel, free travel insurance etc. The object is to spend a little cash in order to minimise your losses. If you have a mortgage of $1000.00 per month and no one rents your property you have already lost $1000.00 - If you had an offer that cost you $200.00 in order to rent your property at $1000.00 for a month you would have minimised your loss by $800.00.

The point is if you have to lose money at any time because of a down turn - why not make it as little as possible - in the long run you will come out on top because you have turned something with a negative outcome into a positive.

Now would be an ideal time to re-evaluate your marking material to incorporate any of the tips that you find useful.

- Change your brochures or add an insert.
- Update your website and make any special offers MORE prominent.
- Update any online villa adverts you have.
- Check your prices!

I'd like to hear any other useful tips you might have - How is everyone getting the best from their holiday property?

Look forward to hearing from you,

Karl

BargainVillas
karlh@bargainvillas.co.uk
http://www.bargainvillas.co.uk/

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