14 March 2012

Top problems when renting holiday properties and how to deal with them

Renting out your holiday property is not just about finding a possible tenant with the expectation that they will pay their rent on time. After careful cleanup and preparation, property owners should anticipate problems while the tenant is staying in your property.
The following are the most common problems which owners have to face. We have also given some advice as to how you can effectively deal with the problem:
Late payment
Many tenants pay for their holidays very late which could easily cause a lot of problems to the owner, especially if it is there main source of income. But you can easily avoid this problem with the right paperwork and reminders. The document should clearly indicate the date of payment and its consequence. A friendly reminder a few days before the payment deadline should also help you to receive the rent on time.
Renters locking themselves out
It’s always a possibility that a renter will lose their keys for your holiday property. To avoid further inconvenience, the best solution is to install key-less door locks (a lock that only requires a code). Another solution is to give spare keys to the property manager or the housekeeper. Just make sure that the people handling the extra keys can be trusted.
Emergencies while staying in a holiday property
It’s always possible that something will go wrong while your tenant is staying in the holiday property. As a protocol, give your tenant a card or laminated paper with a list of phone numbers they can contact in case of emergency. It’s a very simple card they can place in the property for ease of use if something does go wrong.

photo courtesy of Jixar