If you are looking to buy a holiday property in the Cotswolds, you might be wondering how to get...
The holiday letting industry is ever-changing with new trends so, as a holiday property owner you’re probably wondering how to maximise your holiday cottage income.
At Manor Cottages, we are a Cotswolds holiday letting expert. We help our owners by analysing holiday letting trends and there’s not much we haven’t experienced!
Read on for our top tips on how cottage owners can ensure they make the most of their holiday-letting journey.
At Manor Cottages, we offer intelligent pricing backed by our parent company Sykes Holiday Cottages – leaders of holiday letting in the industry.
Prices start to increase from May onwards, reaching a peak during the school holidays. This usually runs from the middle of July until the end of August.
Demand is usually high during this time from families seeking a beautiful country holiday for get-togethers, reunions, birthdays and anniversaries.
Prices reduce a little in September, however, this can still be a popular month in the Cotswolds. The famous towns and villages are a little quieter than during the school holidays.
During this time, couples tend to visit the Cotswolds to explore attractions, walking routes and sample local delights at tea rooms.
Out-of-season is a great time to refresh furnishings and carry out an audit of maintenance required from a high footfall in the summer.
Most properties in the Cotswolds will still continue to have a high booking rate throughout Autumn up until Christmas.
The prices that can be charged vary depending on the size and quality of your cottage.
An important aspect of the holiday letting market in the Cotswolds is the demand for short, flexible breaks.
If booking slots are correctly priced, owners who offer guests flexibility can typically make higher profits than those who only offer weeklong bookings.
Flexible break strategies typically involve splitting a week into two main time slots: a mid-week slot and a weekend slot.
The key to higher profits is to ensure that the price of these shorter slots is not just a pro-rata of the weekly rate. We ensure that they are priced according to market demand.
Typically, this means that weekend rates are 70-75% of the weekly rate and mid-week rates are 65-70% of the weekly rate.
Year-round, a popular property can expect to get a good mix of weeklong, weekend and mid-week bookings.
In those weeks where there is both a weekend and a mid-week booking, the owner will earn approximately 135-145% of the weekly price!
While there are two turnarounds’ costs within such a week, owners should still make much higher profits.
If you truly wish to maximise your holiday cottage income, you’ll need to not only as flexible as possible but explore other avenues.
By allowing pets and in turn, being a pet-friendly holiday home, you’ll open your property out to a whole new demographic of guests.
The Cotswolds is extremely pet-friendly. Pair this with fantastic country walks and dog-friendly pubs, there’s no reason for guests to pay for kennels.
If you have a high-quality, characterful property, then get in touch!
At Manor Cottages, we provide a range of guidance and support. It can take as little as two weeks to get your cottage ready to holiday let.
Contact us today for your free pricing appraisal and get your free owner pack.