3 out of 10 travellers reported having struggled to find suitable holiday properties when booking their holiday. Could this be the reason for so many let’s being left empty?
Research has revealed that a startling proportion of holiday properties have been left empty this summer. Following the recent pull-back in prices, an increasing number of investors are buying properties in prime locations around the UK and globally in the hope of making money from holiday lets. Unfortunately many of these new entrepreneurs make the mistake of failing to develop a suitable marketing strategy and are left with an empty investment property.
In a survey commissioned by www.PromoteMyPlace.com –a site which enables holiday accommodation owners to create their own professional quality website – it was found that 25% of holiday lets have been left unoccupied this summer.
44% of respondents said that they had stayed in a hotel on their last holiday and 39% of Brits said that letting a holiday property had not even crossed their mind when planning their holiday. Perhaps most worryingly, the survey also revealed that 32% of new holiday property investors didn’t know how to market their property effectively.
Peter Connon, co-founder of PromoteMyPlace.com said that “New investors need to understand that renting out holiday lets is a business like any other. The fundamental requirements are a good property, good sales literature and one or more channels to market”.
“Property investors need to consider not only how desirable a property is, but also how they will tell people about it. A professional quality website to showcase your property is essential, as is a listing on at least a handful of popular holiday let websites. Without these basics, owners will continue to face the prospect of an empty investment property.”
It seems that many people are falling into the trap of assuming it will be easy to find customers for their new holiday property, but this survey has revealed too many property owners are underestimating the importance of a sound marketing strategy and are losing money as a result.