The Pros and Cons of Subletting Your Holiday Home
Subletting your holiday home out to members of the public, friends and family when you are not using it is a very good way to generate some extra income. The money generated can be used to pay the annual site fees that are charged by the holiday park and any other costs in running the caravan. This minimises the cost for you as a static caravan owner.
The main two options when subletting a caravan are to either do it yourself or through the holiday park. Not all holiday parks have this option though so you will need to check beforehand.
Renting out the caravan via the holiday park is a great way of minimising any hassle but you need to be aware that you will not have any control over who they allow in to your holiday home, plus they will take off their commission from any income that is generated.
If you would like to sublet it privately and stay in control of who can rent it then you will need to find a way to advertise it to members of the public. Advertising online is the best way of doing this as you can reach a high number of people very easily and at low cost.
There are over 3,000,000 people advertising their holiday homes on the websites and several millions of visits per year from members of the public all looking to hire a privately owned static caravan. Usemycaravan.co.uk are looking to try and get a major chunk of visits to its site by using a variety of options whether this is advertising, Social Media and Google.
Renting your holiday home out privately but restricting it to friends and family only is another option you could choose, this way you are confident about the type of people you are allowing to stay in your caravan. The downside with this is that your friends and family may expect a generous discount compared to renting it out to members of the public limiting the amount of revenue you can earn.
Before signing-up to one of the websites, you need to keep in mind the two main downsides of subletting your holiday home. The first is the reduction in the amount of time that you can actually use the caravan yourself and the second is the increase in wear, tear and accidental damage that may occur while other people are using it.
Most people find that small, accidental damages can be covered by charging people a ‘damage deposit’ of between £50 and £100. If no damage occurs then the holidaymaker gets the deposit refunded in full, however if something is broken you can use part of the deposit to fix or replace it.
The wear and tear in a caravan usually takes place the most with items such as carpets, furniture and the kitchen area. A good idea is to save a small portion of each rental and put it to one side then if anything needs replacing at a later date you can use the money from the rentals to pay for it.