Heading away for the holidays? Surely it makes good financial sense to earn some money on your property by renting it out while you’re gone - we definitely think so. Too hard basket? Not at all - here’s a few tips on how to achieve a smooth, easy transition to a summer holiday that can provide some great income…

1. Work out your price

You need to know what is an appropriate price for a nightly or weekly rate - this is typically higher than a normal residential rental price as it is only for a short period.

Visit a few holiday house websites to see what other comparable homes in your area are being rented out for, and even have a chat to a local real estate office to see what they would recommend.

You also need to consider a bond as well - this can help mitigate the worry you may feel about renting out your property. Usually this is the rate of 4 weeks rent, but can differ for holiday rentals.

2. Advertise to your target audience 

Now you need to find someone to rent your home - and it probably won’t be very hard, as Kiwi’s love to travel and seem to prefer staying in a fully equipped home over other types of accommodation.  

So now you need to think about those who would be interested in staying in your local area. If you’re in the city, then it is likely those from smaller towns will be your target audience - as they escape the rush of summer holidays. If you’re in a coastal beach location, then it is unlikely you would struggle to find interested parties from the big smoke. You can advertise in the local newspapers, and also online too.

3. Tie up the ‘what ifs’

While renting out your home for the holidays is quite low risk here in friendly New Zealand, it is best to be prepared for any eventuality - so have a chat to your insurance company about any extra cover they may provide. You can also get some inspiration from the Residential Tenancy Act to put together an agreement to be signed by those renting your home.  

4. Tidy up into one space and secure it

So you’ve got your agreement all signed, the money has been paid and now it is time to get the house ready for the guests. A good idea is putting all your personal effects/things you don’t want touched, into a space or room that you can lock up. It could be family photos, laptops or other important items, and it will just give you peace of mind that no accidental damage can be done.

This will likely keep the visitors happy to as they don’t have to worry about losing their bond in case of a mishap (particularly if there are children staying).

5. Leave some helpful hints and tips

If your back door can catch and slam in the wind, or your oven takes a while to heat up - it doesn’t hurt to leave a note for your guests. This will help them look after your property better, and minimise any possible damage occurring from just not knowing certain ‘quirks’ about your home.

If by the beach - leave the hose and a bucket close by to wash off sandy feet, and leaving out plastic chairs can help ensure the ones from the dining table aren’t used outdoors. Just simple things can like this means you can relax knowing your property is going to be taken care of.  

6. Call in the experts

If the earning potential from renting out your home for the holidays sounds appealing, but the work required to do it doesn’t - you can pay someone a small fee to do it for you!

Get in touch with your local real estate office to see if they can help, and they can always drop by to check everything is going okay with the property, as well as be on call if anything goes wrong - meaning you don’t have to have your holiday interrupted.  

Looking for other ideas on how to generate a little more income from your home? Check out the tips in our free guide.