One of the biggest trends in holiday letting property of late is conversions. With this trend, barns, factories, churches and historical monuments are transformed into fully equipped self-catering properties. While simply buying an old barn and expecting it to be inviting is not quite what this trend is about, conversions are still worth noting for a number of reasons.
To give you a better idea of what makes conversions so popular in the holiday letting industry, it is good to understand broader international holiday trends. Today’s traveller is very often after an experience rather than simply somewhere to stay. As such, unique properties that go beyond ordinary apartments, villas and cottages are in high demand all over the world. Before you start pouring over the property pages, keep reading to get our expert tips on how to make this trend work.
How to Make This Holiday Letting Trend Work
Some of the most important things for you to always consider before you start thinking about a holiday letting property conversion include the following:
- Practicality. Does the property have the fittings, electricity, water, and facilities required to make it inhabitable? When we say inhabitable, we don’t just mean living it rough, either. Ideally, you want to have all the basics in place, so that you don’t need to spend a great deal of time, money and effort restoring the property. Check wiring, roofs, floors, walls, grounds and any other potential problem areas that could sacrifice guest safety or comfort.
- Location. A beautifully restored barn in the countryside sounds lovely. In areas such as the Cape Winelands or Constantia, this type of property would work. If it is far away from the City Centre however or in an area that does not offer much for guests to see and do, it may not be quite as ideal. Choose your short term rental location wisely so that you do not have to worry about guests getting lost or getting bored out in the sticks.
- Budget. Converting a commercial use building or a structure such as a church into a livable space is not going to be cheap. Ask yourself if it will truly be a worthwhile investment, or whether it would not be more feasible to look for a property that is already ready for guests. If you are going to have to spend a fortune, in the long run, it may not be worth the costs involved.
- Character. It is also worth considering the overall look and character of the building. The idea of a former factory becoming a modern apartment may sound great, but if the building is outdated, ugly or just plain uninspiring, it may not have the effect you were hoping to achieve. Likewise, an old barn may end up being more of an eyesore if it does not have much charm in the first place.
- Demand. Although conversions are a big trend globally, and one that is starting to heat up here in Cape Town, this style does not work for every type of guest. If your market is family friendly accommodation or business travel, then a conversion may not be the right choice. Think carefully about your ideal guest before making any final decisions.
Now that you have a better idea of how conversions work, you can make an informed decision. Whatever you decide, it is essential that your let is expertly run to international standards. Get in touch with Totalstay today if you’d like to know more about our comprehensive short term rental management solution for holiday letting property owners.