Want to make a little extra money when you’re not using your holiday home? Your income property can actually be a great asset to you and your family, even when you’re not there. There are plenty of options available that will both help you make some extra income, as well as keep your home safe and secure while you’re away.
Here we explore some of the best ways to make use of your property and monetize it when you’re away.
Rent Out Your Property
One of the most obvious solutions is to rent out your property while you are away. There are a number of platforms, such as Airbnb or Homeaway, that allow you to list your property and find potential renters.
You can determine how long and for how much someone will be allowed to rent it out for, as well as set rules about the type of guests you would like to welcome. Though this is an easy way to make money, be sure you understand the laws and regulations of your particular location so that you don’t get fined for operating an unlicensed rental.
Host Events or Gatherings
If you have a large enough property, consider hosting events or gatherings while you are away. This could mean anything from yoga retreats and corporate team-building exercises to wedding receptions and art exhibitions. This is a great way to bring in more income, and you can even enlist the help of event planners for a stress-free experience.
Store People’s Valuables
Do you have an extra room or two that could be used for storage? Consider offering your space up as a storage solution for people who need temporary storage. You can charge a fee for the service and be sure to get an agreement in writing.
Care for Pets
This may not be the best idea if you live close to your holiday home, but if it’s a bit further away, consider offering pet-sitting services while you’re gone. People will pay for their pets to stay in a comfortable environment that’s not too far from home. Just be sure you have a reliable pet sitter lined up and make sure the space is safe and secure for animals.
Offer Cleaning Services
Another great way to make some extra money while you’re away is to offer cleaning services. People often need help with chores and errands when they go on vacation, so why not let them know that your home is available for hire? You can even team up with local cleaners and offer a package deal.
Use Your Home as a Film Location
Are you located in a beautiful and unique area? If so, consider offering your property out to filmmakers or photographers who may be looking for locations to shoot their projects. You can charge them based on the size of the production and use the money to cover any expenses that come up while you are away.
Use Your Home as an Office
If you have a spacious property, consider renting it out as an office space. This could be perfect for freelancers or entrepreneurs who are looking for a temporary workspace. You can offer daily and weekly rates so that people don’t have to commit to long-term leases.
Rent Out Your Garden
If you have a garden, consider renting it out for special events. People often need outdoor spaces for parties, barbecues, and other celebrations. Just make sure your space is insured and up to code before allowing people on the property.
Create a Small Business
Consider using your property to start a small business while you are away. This could mean anything from providing catering services or renting out equipment to offering online classes or tutoring services. You can even rent out your home as an Airbnb co-working space.
Sell Your Produce
If you have a large enough garden and some extra time, consider growing your own products to sell while you are away. You can set up a farmers’ market stand or even look into having local restaurants buy from you. This is an easy way to make money, and it’s a great way to support the local economy
If you’re still unsure of what holiday house management services to offer, consider contacting a professional company that specializes in this type of work. They have the experience and knowledge to help you make the most out of your holiday home.
Wrap Up
Your home can be a great source of income while you are away. You can choose to rent it out, list it on a sharing economy site, or simply keep it open for friends and family. Consider the local laws and regulations before you do any such thing. If you have established yourself as a professional rental home in your community, then you may need to apply for proper permits and/or licenses.
With careful calculation and research, you can determine the most profitable and beneficial way to manage your home while you are away. Whether it’s an opportunity for leisure or an income-producing investment, make sure that whatever decision you choose is responsible and safe.