How to Make your Trips Profitable by Renting your Home? - What Studies | Knowledge

Breaking

Post Top Ad

5/29/2019

How to Make your Trips Profitable by Renting your Home?


Whether you go on an occasional or regular trip, we all face the fact of having to assume in parallel the costs of his stay and the expenses that fall on our home.

To cope, it is possible to rent his home. Indeed, with this solution, it is possible to travel and earn money, and thus make profitable its travel. I give in this article some information and advice on the rental of his home.

Why rent his main home during his holidays?

Renting your apartment during a world tour or a long trip of 2 or 4 months is a question that can be interesting to ask. Indeed, housing is well inhabited, maintained and useful.

The main advantage of this solution is that it allows the owner of the apartment or house to earn income. Thus, the various taxes and fees (repayment of a mortgage loan for example) can, in this case, be financed indirectly by the travelers who occupy the housing. Traveling, in this case, makes money!

Renting your apartment in seasonal can also be an interesting source of income. This decision can be made according to his lifestyle and periods of high affluence depending on his place of residence.

Why not take the opportunity to go on a trip during a touristic period? This increases the level of demand and maximizes the chances of welcoming travelers and thus occupying one's home. These temporary occupants may be willing to pay more depending on the season.

Rent your apartment during the holidays, what steps to plan?

First of all, it is necessary to inquire about the general and legal conditions for renting your home. For example, you need to be an owner. Renters must obtain written permission from their lessor to sublet. Also, the rental must not exceed 4 cumulative months per year.

Then, it is necessary to ask the right questions. For example: renting this apartment/house might interest travelers? What is the level of competition? At which price to rent this property? How to protect a personal or fragile business? How to write the rental announcement? How to give the keys back to the traveler? What warranty extension should be provided (to be foreseen in case of material damage)?

When the project is well-crafted, there are two options for formalizing the project. You have to publish the ad directly on a newspaper/site from individual to private or a specialized rental site like Airbnb, Housetrip, Wimdu or Abritel. It is necessary to provide a written contract (if it is not proposed by the site in question). Or to directly register through an agency specialized in renting housing.

The advantage, in this case, is that it manages everything from the creation to the dissemination of the ad, through the selection of travelers, cleaning and delivery of keys. This is the case, for example, with Hostnfly which is an online concierge and offers this type of service.

Finally, it is mandatory to report this additional income and therefore pay taxes accordingly.

How much to rent his house or apartment for the holidays?

To get an idea of ​​the incomes associated with the rental of your home, the idea is to look at the rental prices per night of similar properties on specialized sites. HostnFly provides a free estimate for the largest cities in France (for now).

In general, the main criteria to be taken into account concern: the geographical situation and the environment of its property, the nature of the rented property (apartment, villa, mobile home ..), the period and the capacity of reception of the housing.

Renting your main home during your absence: how to manage more easily the organization that this requires? Renting your home by an agency can be a good solution to delegate.

And you, what is your opinion on renting your home during a trip? Feel free to share it in the comments.

No comments:

Post a Comment

Post Bottom Ad

Pages