subject: Tips For Renting Out Your Holiday Bulgarian Property [print this page] You can rent out your Bulgarian property when you are not using it, the rental income can cover the mortgage which means that essentially your guests are paying the cost of your property for you!
However, renting out your Bulgarian property is not as easy as it looks. Perhaps you have taken a few pictures of the home and placed them on holiday rental websites, but there is a lot more to know about renting a holiday home in Bulgaria.
Here are a few tips to renting out your Bulgarian property that will make it a lot easier:
Get the right size property. You will pay less for a smaller property, but you will also not be able to charge as much as a large four bedroom villa. It is important that your property finds the right balance between small enough to be affordable, but large enough to attract many potential visitors and bring in a high rental income.
Consider the competition in the area. You dont want to buy a Bulgarian property to rent out in an area where a huge number of other properties of the same size and style are being rented. You will have lots of competition and you will likely have to reduce your price to stand out from the crowd.
Another important factor to consider is home insurance. It is different choosing home insurance for a rental Bulgarian property than your primary residence, so make sure that you take a look at a lot of different insurance policies and choose the best one for you.
Of course, dont forget to make sure that the property meets all of the legal fire safety regulations, and that you have safety certificates for your appliances and electrical items.
Invest in professional photographs of your Bulgarian property. Taking photos with your digital camera will not be as high quality, and a professional photographer will know how to highlight the best features of your home. This expense will pay for itself in the increased number of bookings you receive.
Unless you are going to be living nearby, managing a Bulgarian property from abroad can be challenging. Hire a trustworthy house manager who will welcome your guests, check them in and out, and help them with any of their needs during their stay. You can also hire housekeepers to clean the property after every guest.
These days, the internet allows your guests to post details about their stay on review websites immediately, spreading the word about your property to people all over the world. This is bad news for you if you provide poor customer service, but on the flip side you can also generate free advertising by making sure that your guests are very happy with their stay.
Go above and beyond to deliver a great holiday home, and word of mouth will spread.
These are just a few important tips to remember when renting out your Bulgarian property.
