Tips to Maximise Your Holiday Home’s Profits in 2024

The demand for holiday homes in Dubai is increasing as the city attracts tourists worldwide. The increased demand for holiday homes has created more competition in this sector. To dominate this competitive market, homeowners need a solid strategy at their corner to achieve the highest occupancy rates and gain more profits. This blog will provide valuable tips to maximise profits for holiday homes in Dubai.

The Right Location is the Key

Whether your holiday home model is focused on daily bookings or at least one month and above, guests prefer a more central location for short-term rentals. While the property should ideally be a quiet hideaway, the location should provide an upbeat atmosphere. The number one up-sell for any property is access to transportation. Almost 80% of guests will ask if the metro station, supermarket, restaurants and cafes are within walking distance. Some other factors that appeal to the guests are:

• Beautiful views
• Natural light
• A private balcony
• Landscaped surroundings
• A pedestrian-friendly neighbourhood

Another location feature that could attract guests is the building’s facilities. Guests look for properties with swimming pools, saunas/steam rooms, gyms, and 24-hour security. The most important factors to ensure are that the building is well-maintained, cleaned daily, has garbage chutes managed, and has no issues with bad smells or pests. The best areas in Dubai ideal for maximum occupancy rates for short-term rentals are Downtown Dubai, DIFC, Business Bay, Jumeirah Lake Towers (JLT), Dubai Marina, Blue Waters, The Palm, and Jumeirah Beach Residence.

Invest in the Interiors of the Property

Your property’s interior can assist you in achieving the highest occupancy rates. It is all about the right colour scheme and comfortable furniture. Many homeowners think that furniture must be costly to look good. However, this is not the case. Luckily, various furniture shops in Dubai suit different budgets, like Home Centre for smaller budgets, Indigo Living for mid-range budgets, and Zen Interiors for high-end budgets. You may also look into buying high-quality second-hand items like dining tables, TV units and other furniture from Dubizzle.

Always use a neutral colour palette, as this is most welcoming for guests and remember to accessorise with a pop of colour. Make sure to:

• Include a feature wall or wallpaper in the main rooms
• Add textured rugs to fill a room
• Invest in some modern and bright light fittings
• Ensure the curtains completely blackout light in the bedroom

• Keep the living room light and airy

   

Hire a professional photographer to take photos of the property and facilities. Include a descriptive property write-up, as this will boost the chances of attracting more guests.

Never Ignore the Basics

The smaller touches matter the most. Guests usually use the kitchen, so be generous with cooking utensils, mugs, pots, and pans. Another special touch could be a coffee machine, food processor or blender. Guests would also prefer a pet-friendly property. Ensure the sofa is comfortable and big enough for an adult to lie on. You could also opt for a sofa bed as an up-selling point. Provide a sturdy and comfortable bed, or you may need to invest in a mattress topper.

Price It Right

Even a perfectly located property with top-notch interiors won’t get many bookings if the price isn’t right. Make sure you visit all of your local online property portals to see what other apartments are being rented for in the same area, and make sure the price you are requesting is comparable. The bottom line is – since guests will only be staying for a short time, they will most likely select the cheapest property within the same area. Make sure you change your prices to reflect the peak and off-peak seasons. Sometimes, dropping the price even by a fraction can help to boost bookings.

Improve Guest's Experience

Your guests are the key to your success, and their positive experiences are the foundation of a profitable holiday home investment. Be attentive to guest inquiries and requests, and make efforts to exceed their expectations. A quick and helpful response demonstrates your commitment to their satisfaction and can turn a good stay into an exceptional one. Provide a welcome guide or handbook with local recommendations and appliance instructions.

Positive reviews from guests increase your bookings and profits. A great guest experience boosts your reputation and attracts more bookings through positive word-of-mouth and online reviews.

Hire a Professional Property Management Company

A property management company can help you list and market the property, manage bookings, and maintain the property. So, taking services from a reputable property management company is the best way to boost holiday home profits. At Betterhomes, we have expertise in the local market, a network of contacts, and resources to market your holiday home to a wider audience. Our 5-star guest reviews show our good reputation in the market and can guide you on the right path to achieve above 90% occupancy rates.

Conclusion

Always put yourself in your guests’ shoes before listing your holiday home for rent. Ask yourself, “Would I be happy and comfortable paying the asked rent against the facilities and condition of my property?” With ample 4 and 5-star hotels available in Dubai, guests here choose holiday homes as an alternative to hotel accommodation as it allows them to feel more at home. So, consider their comfort while assessing your expenses to achieve the highest returns.