In terms of Capital Gains Tax (CGT), a normal residential let property is classed as an investment. However, a...
Whether you are just starting out on your holiday rental venture, or you are a seasoned pro who may be struggling with the hassle and stress of a D.I.Y. holiday letting, we have put together our top 10 reasons why you should let with Sykes Cottages to help you make an informed choice about your holiday letting.
D.I.Y. holiday letting can be a time-consuming, potentially stressful venture, which includes managing all changeovers, greeting guests and cleaning your property. At Sykes, we can take as much or as little of this off your hands so you can stay in control, whilst also reducing what you feel causes the most unnecessary hassle. Our managed services options offer trusted help with cleaning, gardening and general maintenance so you can take a welcomed step back.
Dealing with all customer queries and complaints yourself can be a real pain-point of D.I.Y. letting, with calls and messages taking over your life by coming through at all times of the day and night. Sykes Cottages has a 24/7 Emergency Helpline for guests to call with any queries or questions, leaving you to enjoy your weekend in peace, but also keeping guests happy and satisfied with their stay.
D.I.Y. letting can sometimes be unpredictable when it comes to guests cancelling last minute, leaving you with a very small window to re-fill the slot to ensure you get paid. When you let with Sykes however, all guests will pay a deposit for the property. If a guest decides to cancel for whatever reason, our owners are entitled to the deposit, along with any balance that has already been paid, to ensure they are not out of pocket.
Pricing your property can be a difficult decision to make, with a lot of research going into making sure you are able to get as many bookings as possible, whilst also securing a healthy amount of revenue. It can also be very challenging to keep up with the ever-changing market, as well as staying informed with the demand in your area.
Our market-leading pricing systems looks at your property’s features and location, along with the time of year and the general demand in the area. Our optional Income Maximisation schemes give our revenue management team the flexibility to adapt your pricing to reflect demand, and in turn, make our owners more money!
Whilst D.I.Y. lettings allows you to have your property live and ready for bookings within 24 hours, it doesn’t take too much longer to get it live with Sykes. In those 7 days your property will have brushed the hands of our pricing, marketing, and travel expert teams, putting them in the best possible position to secure bookings from day one.
As a D.I.Y. letter, it can be daunting when you first go live and start getting your first few bookings. Questions and queries that you had never thought of start popping up and it can be very difficult to find the answers when you may not have much experience in the industry. As a Sykes new owner, you will be assigned a dedicated Account Manager from our New Owner Team who will be on-hand to answer any of these burning questions and give you any handy hints and tips to make your holiday rental a long-term success.
Marketing a holiday rental as a D.I.Y. letter can be an expensive and time-consuming task, with little return on investment. Our marketing team is made up of experts in TV, radio, social media, email, paid advertising and free search, ensuring your property gets as much exposure as possible from each individual channel.
Here at Sykes, we have a portfolio of partnerships with a variety of third-party sites such as Homeaway, TripAdvisor, Booking.com and Airbnb, to ensure your property gets exposure all across the world. For those D.I.Y. letting, an additional cost could be incurred as some third-party sites are commission-based, while others work on a subscription-based service. With Sykes, however, you won’t pay a penny!
As both a customer and an owner, we know the images of a property can make or break a decision to book a holiday cottage. Rather than trying to achieve high-quality, professional standard photographs using your smartphone, Sykes offers professional photography for our owners free-of-charge. Our experts know exactly how to get your property photo shoot ready to ensure it is shown in the best possible light to all our customers.
While images are important to showcase the aesthetics of your property, the description is also crucial. Not only does this provide the customer with detailed, accurate information that may not be present in the images, but also ensures it is optimised for search engines. This is something that could be a particularly time-consuming task for a D.I.Y. letter, whereas at Sykes we can take this off your hands.
*Based on a 7 bedroom property in the Lake District with bookings between October 2017 to September 2018.
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