Holiday letting the annexe - Marketing and Pricing?
Discussion
Looking to create some income by using the annex as a holiday let.
It's two good sized bedrooms, a large kitchen diner, sitting room, two bathrooms and a utility room with private entrance although it is directly attached to the main house.
The house is impressive, Victorian, detached and in its own gardens of 8 acres with two lakes so masses of 'kerb appeal'.
There is also an indoor swimming pool for use by guests. Location is central England, within striking distance of London but very rural.
My accountant, who does this sort of thing, says stick it on Booking.com. Does this preclude me from using ownersdirect, homeaway, aribnb and the like? Any thoughts one which is the best?
Also, how best should I go about pricing the thing? Obviously, I've looked at everything else the area but not only does there seem to be a wide variation there is nothing really that similar to what I'm planning to offer.
It's two good sized bedrooms, a large kitchen diner, sitting room, two bathrooms and a utility room with private entrance although it is directly attached to the main house.
The house is impressive, Victorian, detached and in its own gardens of 8 acres with two lakes so masses of 'kerb appeal'.
There is also an indoor swimming pool for use by guests. Location is central England, within striking distance of London but very rural.
My accountant, who does this sort of thing, says stick it on Booking.com. Does this preclude me from using ownersdirect, homeaway, aribnb and the like? Any thoughts one which is the best?
Also, how best should I go about pricing the thing? Obviously, I've looked at everything else the area but not only does there seem to be a wide variation there is nothing really that similar to what I'm planning to offer.
What is your USP? Location, location, location is probably the main driver.
From experience, I know that people are reluctant to drive out for a meal at night in an unfamiliar rural area, whereas we are happy to perch on a stool and eat a light breakfast in the morning and eat out at other times. Are you aiming for two couples, or families? Families will want places and stuff to amuse the kids, adults perhaps some different activity, walking, riding etc You are unlikely to attract passing trade, and is someone likely want to book for a full week?
I think once you resolve issues like this, it will become clear who you need to aim your marketing at, and what price point will make it worth your effort.
AirBnB fees are 15% and tend to show the cheapest first, so unless someone uses the price sliders, they will not get to see your advert. If someone is looking for an alternative to a decent hotel, then Booking.com is better
From experience, I know that people are reluctant to drive out for a meal at night in an unfamiliar rural area, whereas we are happy to perch on a stool and eat a light breakfast in the morning and eat out at other times. Are you aiming for two couples, or families? Families will want places and stuff to amuse the kids, adults perhaps some different activity, walking, riding etc You are unlikely to attract passing trade, and is someone likely want to book for a full week?
I think once you resolve issues like this, it will become clear who you need to aim your marketing at, and what price point will make it worth your effort.
AirBnB fees are 15% and tend to show the cheapest first, so unless someone uses the price sliders, they will not get to see your advert. If someone is looking for an alternative to a decent hotel, then Booking.com is better
Thanks for the input.
Our USP is the 'wow' factor of the house and gardens/park land, it looks like a National Trust property and the gardens are almost completely unused. That and the swimming pool which is a big draw for families.
Location wise it is very well placed for Santa Pod, Bedford Autodrome and less than an hour from Silverstone. Also, the Twinwoods Centre where you can do indoor skydiving and indoor surfing.
Searching through vaguely similar properties I keep thinking 'this is worth north of £100 a night' and then I see something which is well under, say £60, and that sows a seed of doubt.
Our USP is the 'wow' factor of the house and gardens/park land, it looks like a National Trust property and the gardens are almost completely unused. That and the swimming pool which is a big draw for families.
Location wise it is very well placed for Santa Pod, Bedford Autodrome and less than an hour from Silverstone. Also, the Twinwoods Centre where you can do indoor skydiving and indoor surfing.
Searching through vaguely similar properties I keep thinking 'this is worth north of £100 a night' and then I see something which is well under, say £60, and that sows a seed of doubt.
Do you really want the hassle or letting per night? Sounds ideal for a weekly key we use Sykes a lot for uk Mini breaks or cottages.com they send a lot of promotional emails with the latest, greatest deals so are working for you as a customer and clogging up my inbox. Not had a problem with either as a customer they both offer their own insurance not sure how that works out on your side.
No, you're right Bored, I don't particularly want anything shorter than two or three nights and one and two-week booking would be ideal, I'm just basing my calculations on a nightly rate. The two websites you mention both look good, do you know if landlords list their properties on both or do they have to pick one and give them exclusive marketing rights?
talk to these guys: www.staycotswold.com - caveat - we do work for them...
they know this type of market really well (owner renting out house / bits / etc.) They might be able to help directly, or advise you...
they also show prices on there which might suggest higher than you are looking at... this type of market is one where having knowledge really pays back if your property has enough wow factor...
they know this type of market really well (owner renting out house / bits / etc.) They might be able to help directly, or advise you...
they also show prices on there which might suggest higher than you are looking at... this type of market is one where having knowledge really pays back if your property has enough wow factor...
Edited by akirk on Wednesday 6th September 15:49
Booking.com has quite high fees (20% iirc), don;t know how that compares to similar sites. Airbnb has much lower fees, and has more of a social media/community aspect to it - guests and hosts leave feedback for each other, and both have been verified before being able to book. It doesn't totally stop you getting a 'bad' guest, but it's better than nothing at all. The other sites like booking.com, laterooms etc, are purely a booking facility. We've got a couple of static caravans that we rent out, and we've only advertised them on Airbnb. It was slow to start with, but then it took off - your guest's ratings/feedback help you come higher up the search results.
You get all sorts of special/unique stuff on Airbnb, so people looking for something a bit different/more personal than a bog standard hotel or guesthouse are more likely to look on there.
You get all sorts of special/unique stuff on Airbnb, so people looking for something a bit different/more personal than a bog standard hotel or guesthouse are more likely to look on there.
Ossiantoad said:
No, you're right Bored, I don't particularly want anything shorter than two or three nights and one and two-week booking would be ideal, I'm just basing my calculations on a nightly rate. The two websites you mention both look good, do you know if landlords list their properties on both or do they have to pick one and give them exclusive marketing rights?
I've no idea as to exclusivity from our experience we book through one or the other and very often in the welcome pack is a note from the owner if you want to come back next year get in touch direct for 10% off. Which might be worth considering. Ps your place sounds lovely. Will it be child proof? If you need anyone to test how childproof it is im happy to supply the children
Thanks chaps. Sykes Cottages seem to offer a 'bells and whistles' service and are affiliated with 500 other websites around the world so a listing with them will get me exposure on all the main sites.
They've quoted me just under £24k net per annum estimated income for the first year after 18% fees.
As for child-proof-ness, yes it will be and thanks, but I have more than enough of my own to run tests with!
Any one have any experience with the potential accuracy of this type of quote? I know that residential estate agents will often suggest your property is worth more than three gazillion pounds just to get you to sign up with them but later on when they actually try and sell it they turn out to be a little more pessimistic.
They've quoted me just under £24k net per annum estimated income for the first year after 18% fees.
As for child-proof-ness, yes it will be and thanks, but I have more than enough of my own to run tests with!
Any one have any experience with the potential accuracy of this type of quote? I know that residential estate agents will often suggest your property is worth more than three gazillion pounds just to get you to sign up with them but later on when they actually try and sell it they turn out to be a little more pessimistic.
take that figure with a pinch of salt - ask them for expected rates for weekends / weeks / etc. and then expected occupancy %s - some parts of the year are easy to fill, weekends are relatively simple... weeks during holidays often ok, but midweek the rest of the time can be a nightmare... think a out how you might fill the dead spots to maximise income...
We use Sykes for a cottage we have on the IOW. We had used a local agency for a few years, then they forgot we were customers and started charging for daft thIngs (final straw was that they managed the key process but wanted to charge us £3 when a guest hadn't returned one!!)
Sykes took a bigger % (24: ouch!) BUT our net income the next year went up about 20% - they were better at marketing it.
I know they use the usual sites (but have their own), but it is hassle-free. I would recommend them (in our 8th year with them now).
Sykes took a bigger % (24: ouch!) BUT our net income the next year went up about 20% - they were better at marketing it.
I know they use the usual sites (but have their own), but it is hassle-free. I would recommend them (in our 8th year with them now).
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