Holiday homes and other short-term rental properties have been prevalent throughout the UK for decades, with many tourists opting for a temporary residence over a hotel to feel comfortable and enjoy the home from home feeling when travelling.
In popular tourist destinations like the historic city of Bath in the South West, building a business from short-term rental properties might seem like easy money. It’s not like you have to tempt the tourists there – millions flock to Bath every year to enjoy the gorgeous views, beautiful architecture and amazing ambience that this compact city has to offer.
While you might think it’s easy to rent out holiday homes in this area, the reality is that you’ll face stiff competition on a number of fronts. From historic hotels to affordable bed and breakfasts, tourists are spoilt for choice when it comes to accommodation providers and hospitality businesses in and around Bath.
So, how can you set your business and properties apart from the rest and earn the profit you desire? The simplest way is to position your business in the premium accommodation sector and work to attract a discerning clientele of visitors looking for a place to stay and unwind while they see everything Bath has to offer. Putting yourself in the premium category isn’t as hard as you think: you just need to focus on the following core factors.
Location, Location, Location
Where your property is based is one of the main considerations you need to take into account when purchasing it. There’s no point spending thousands of pounds refurbishing a property to be a luxury short-term rental, when it’s based in the heart of a miserable estate with no transport links.
Neighbourhoods change over time, due to gentrification or underfunding, but when you’re starting your business, you should search for a property in a prime spot. Look out for an area with beautiful scenery, accessible transport links, close proximity to Bath city centre, low crime rates, historic architecture, a selection of local shops and amenities, clean and tidy streets, parking or cycling options and parks and outdoor spaces.
These are the core considerations to remember when viewing properties to add to your short-term rental portfolio, as they will be the main focus for most of your prospective tenants.
What services you’ll offer
Cheaper, short-term rentals often don’t offer the same services as hotels, such as check-in and out, laundry, cleaning and other support, so if you want to offer high-end support to your guests, consider working with a company who specialises in Airbnb management in Bath. An experienced company like GuestReady offer a dedicated service that can be adjusted to suit your needs, so you can provide your visitors with everything they expect and more.
The services and guest support you’re able to offer will set your short-term rental apart from others and mark it out as a premium option, meaning you can charge a higher rate.
The type of properties you can provide
When you’re first starting your business, it can be a smart idea to choose the properties you want based on location and style. As you grow your portfolio and start to offer more accommodation to visitors looking to explore Bath, you might want to think about adding some inventive options. Flats and houses are a great choice for most traditional travellers, but some younger visitors might be looking for something a little more unique.
Social media influencers have helped today’s travellers to see the range of options available, ranging from glamping in wigwams to staying in converted vans or buildings that are themed around specific pop culture references, such as Winnie The Pooh.
Whatever their tastes, guests can find something truly unique and inventive, so consider what your company could offer to provide quirky stays that they can brag about on social media and share with their friends, family and followers.
Interior décor and style
Whatever type of property you’re managing, you need to make sure that you decorate it in a way that highlights its superiority and makes it look and feel welcoming for all guests, no matter what their preferences and tastes might be.
Interior design styles and trending products come and go, so you’ll need to be aware of these. You can use portable items like rugs, wall art and ornaments to adapt your property whenever the latest trend comes around. Put them in a storage unit when they’re not in use, and change your short-term rental property’s look whenever you want to.
For the more permanent fixtures in your property, such as carpets, wallpapers and bathroom or kitchen fittings, you should choose neutral colours and long-lasting materials that are easy to clean and maintain. You’ll then be able to create a stunning backdrop for your various decorations that will enhance your space and create a welcoming, cosy property for your guests.
Final thoughts
Bath is a popular city for tourists, making it an equally popular region for businesses offering holiday homes. The city has become noticeably more popular over recent years, as tourists flock to it not just because of Jane Austen, the great food or shopping, but also because it makes for a perfect backdrop for Instagrammable photos and stunning social media shots.
Everyone loves to brag about their staycations, and Bath is the ideal location for anyone who wants to see more of the UK and get the benefit of stunning scenery and majestic architecture. The rapid rise of Airbnb and other short-term lets in the city over recent years means business owners have to be savvy and offer a level of service not provided by their many competitors, which is where we can help. These tips should help you to build a unique and profitable business that will stand the test of time and bring joy to tourists from around the world for many years to come.
