As global travel corridors open, the staycation market in the UK is beginning to feel the losses as people choose to holiday abroad rather than at home. Coupled with the increase in fuel — due for a significant increase from this month — you may be considering how to protect yourself against potentially narrower profit margins.
Fortunately, we have some time before the full impact of the energy pricing increase is felt, and this will become apparent as we head back into the quieter, cooler months. And as a Property Manager, it is my responsibility to turn my attention to the bottom line effect this is going to have on the owners of the properties I market on behalf of. Holiday homes, in particular, have become increasingly popular over the past few years and more people are choosing to rent a holiday cottage instead of booking a hotel room. In this article we consider how to combat these rising energy cost may
Sustainability is Key
Renewable energy is going to become the key solution in continuing to deliver the kinds of returns we have all come to expect. Over the coming months, and an owner of a second home, think about your property and whether it will lend themself for adaptation to solar panels, air-source heat pumps, home batteries, or other renewables, and together lets begin the conversation around future-proofing your investments. Let’s look together at how we can reduce your energy use with this Energy Efficiency Calculator, and I would suggest you start looking into the Home Energy Grants available to all.
For example, installing solar panels could reduce the carbon footprint of the holiday home by up to 80% over the course of a year. Plus, they can reduce the electricity bill, according to the Energy Savings Trust, by £120 to £310 a year.
Keep Up With Consumer Trends & Demand
Consumer desires drive markets, and holiday consumers are no different. Today’s energy-conscious travellers are discerning customers who more and more are looking for sustainability when planning their holidays. People want to see what efforts have been made to reduce the carbon footprint of a holiday home, and your homes will stand out from the rest with renewable energy.
Let’s have this conversation sooner rather than later.
As an owner of a second-holiday property, you may not have yet considered renewable energy. You may therefore be looking to pivot their business and shift from a short-term rental to a long-term rental market. You might be thinking you would rather push overhead from rising energy costs to longer-term tenants, passing the responsibility of increasing bills directly to them.
This is also the ideal moment to review your pricing too, specifically taking a look at your minimum prices. It’s important to reassess the minimum prices on your listings as your costs and overhead change to ensure that no one takes an unprofitable booking.
With government grants to be taken advantage of, there has never been a better time to invest some of the income from your short let stays into future revenue prospects. Whichever way you choose to steer your portfolio, the conversation around how best to deal with ever-changing environmental changes and ever-increasing overheads is inevitable
We are here to help
This is what excites us, talking to you the owner, who knows perhaps this will be the start of a new partnership. Whether you want to come on board with us, let’s chat today to discuss your portfolio and how best to manage your future proofing. Contact Us
Looking for holiday cottages in the Kent?
It’s easy to see why holiday cottages are so popular these days and it’s undoubtedly worthwhile looking at holiday homes when you’re booking accommodation for an upcoming trip. If you’re searching for holiday cottages in Kent, take a look at the range of properties we advertise at The Holiday Cottage Collection. Kent is a stunning area of England and when you book one of our self-catering holiday cottages, you’ll never want to leave.
We have been working in the holiday letting industry for many years now and we know what staycation holidaymakers are looking for. You will be able to find out everything you need to know about our Kent holiday cottages on our website, including the current availability of each property. Should you have any questions though, please don’t hesitate to contact us. We’re always happy to discuss our Kent cottages with you in more detail.
