Cornwall LivingAutumn 2019
Rent smart, earn big!
For many of us our most expensive asset is our home. Rather than being a money pit, why not turn the tables and let your house earn you money by letting it out as a holiday home?
Whether you have an empty second home, or spend time away from your main home for a number of weeks throughout the year, your property could be providing you with a valuable income stream. Trusted holiday rental expert, HomeAway makes this easier to achieve than you might think, by putting you in control of who stays, when and at what price. If you have a property in Cornwall, a hugely desirable location for visitors, you could be earning up to £28,000* per year (based on the average earnings of property in the UK).
As part of the Expedia group, HomeAway has been in the holiday letting business since 1995, so comes with an excellent pedigree. Their Liability Insurance Protection covers you for up to $1M and that, along with a 24-hour claims support and a team of dedicated experts, means you can be assured that HomeAway will take as much care of your home as you do.
You can quickly find out how much income you could be missing out on with the HomeAway online earnings calculator. It couldn’t be easier to use; by entering a few simple details you can get a rental returns figure in a matter of seconds. For example, if you own a three-bedroom house in Cornwall, by renting It out for just 15 weeks you could be in receipt of a potential annual income of up to £10,200.
The added benefit of renting your home with HomeAway is that there are no complicated commission structures. There are a range of flexible options available, from a 12 month subscription which can cost as little as £249, to the popular pay-per-booking model, which means there are no up-front costs and commission is only payable once a booking has been received. Whatever your preference, HomeAway has a solution to suit the need of all homeowners. Once signed up, the HomeAway online Discovery Hub has a wealth of advice on how to grow your revenue beyond the basic. For example, and particularly pertinent to renting in Cornwall, is the fact that HomeAway offers the flexibility for using different pricing during specific periods, meaning you can increase rates for peak seasons or specific events.
In their Second Homes Spotlight 2018, estate agent Savills reported that coastal properties were the most searched for by renters, followed by homes in close proximity to a beach. In association with HomeAway, Savills also reported that average short term yields on annual rental income in the UK was above the Savills World Research survey average, standing at 5.6% net.
But what does all this mean? Well, for those looking to rent their home, or second home, in Cornwall, especially in coastal locations, the news is good. Cornwall is also growing as a host destination when it comes to the UK’s most prestigious sporting and music events. Boardmasters Festival in Newquay attracted over 80,000 visitors in 2018, a large proportion of whom were looking for accommodation nearby. Renting out your home for just a single week during this festival, could offer excellent earning potential, especially as the festival takes place during Cornwall’s peak holiday season.
Next year will see Cornwall play host to the cycling Tour of Britain (the UK’s biggest bike race), bringing a huge influx of visitors to multiple towns across the county and offering another great opportunity for owners to capitalise on reveue.
And it’s not just visitors from the UK that will be looking to rent your home. HomeAway puts rental property in front of millions of holidaymakers in 190 countries. So why wait? Visit HomeAway [Insert trackable link] to unlock your home’s financial potential now.
- Homes on the HomeAway platform can expect to earn up to £28,000 in rental income! (*Based on the average of the top 5% of owners advertising on HomeAway in the first quarter of Source: HomeAway Customer Satisfaction Survey Q1 2016)
- 2018-2019 passenger numbers for Cornwall Airport Newquay hit over 461,000 visitors
Discover Vicky and Nick’s story in the video below.