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How to maximise income from your holiday rental

A growing number of our clients are choosing to build holiday rentals to cash in on our booming tourist market. This article will give you some tips and ideas to ensure you get the most out of your investment.

Choose the right location

If you already have land then this decision is forgone, but you can still consider important aspects such as outlook, access and privacy. If you haven’t purchased land yet, do your research carefully. Look at websites like AirBNB to see which areas are generating the best returns. Tasmania is full of amazing locations and mouth watering scenery, and that is what most guests will be here to see.

Consult a professional financial adviser or accountant

There are a number of tax opportunities and pitfalls around holiday rentals and second dwellings. Make sure you discuss this thoroughly with a trusted advisor. Don’t forget to take into account additional taxes such as capital gains tax, and additional running expenses like rates and water.

Make your marketing professional

It is very inexpensive these days to develop a personalised logo, website and some signage. Naming and branding your holiday home gives your guests a feeling of connection that will make them remember you for future trips and be more likely to recommend you to friends.

Make sure you capture positive reviews

Most holiday makers looking to book accommodation will rely on online reviews to make their final decision. Be sure to wow your guests, and capture their feedback on popular review platforms such as Google, Facebook and AirBNB. If you do get a not-so-positive review, respond quickly and professionally to show other guests you care about their feedback.

Make your offering a little unique

Think about what you can offer that guests may not find elsewhere. It could be a hot-tub with a view of the ocean, maybe provide bikes or kayaks if you are targeting the more adventurous, or some pet friendly options, an open woodfire, or vouchers for some local attractions…little extras make all the difference to the experience of your guests.

Make it personal

Tourists coming to Tasmania love our laid back and friendly atmosphere. Where possible, provide personal touches, contact your guests in person, and build up a relationship that will make them want to return over and over again.

Whatever your location and budget, our team here at Tasbuilt would love the opportunity to work with you to design and build your own unique holiday accommodation. And while it doesn’t help maximise your returns, we hope you book it out for a few days for yourself, so you can personally enjoy the fruits of your labours!


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