Jon takes a look at the market and the opportunities available to get the most from your own holiday home and, regardless of the market, how you can take full advantage of the situation whatever it turns out to be by using modern analysis software that can keep you ahead of the curve.

KEY TAKEAWAYS

• A one-bedroom high quality property with a sofa bed can earn as much as two bedrooms as long as you are willing to wait for bookings and hold your nerve.
• Empty properties still cost money with standing charges and possible mortgage payments.
• Keep an eye on upcoming local events that may give your bookings a boost and allow you to set your pricing at the highest possible level.
• Data collation products are available to allow you to keep track of trends in the market as a whole or locally.
• Analysis tools can allow you to set your base price at a level that covers your variable costs and seasonal fluctuations.

BEST MOMENTS

‘One thing we spotted, for instance, very early on was that a one-bedroom flat in the middle of summer can make as much money as a two-bedroom flat if it’s really nice.’

‘Sometimes during the middle of winter, it’s worth taking some sort of revenue out of a week that you feel you’re not making money on because what it’s actually doing is protecting the money that you will be making in the summer.’

‘I think it’s really important that you recognise that these tools should be approached as a trusted advisor or a trusted friend. You need to look at the conclusions that they’re drawing and understand the tactics that they’re trying to employ.’

VALUABLE RESOURCES

• Website: https://www.spaproperties.co.uk/

ABOUT THE HOST

Jon Stanton

Jon left a successful career spanning thirty years in IT to pursue his passion for property management and has been leading the team at Spa Properties for almost fifteen years.

As well as leading the team at Spa Properties, Jon is an advocate of ongoing business development and professional networking, as well as a senior member of the Scarborough Hospitality Association.

CONTACT

• LinkedIn: https://www.linkedin.com/in/jon-stanton/
• Twitter: https://twitter.com/jonspap

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