So what can Lanzarote villa owners do to ensure they successfully let their properties in the current climate? We suggest the following 10-point strategy:
1. Furnish well - the trick is to invest in robust furnishings that look great and photograph well, but will also stand wear and tear. This usually means that buying cheaply is a false economy - remember you are furnishing a holiday home, not student accommodation.
2. Use great photographs and prepare them well. Before taking the picture, spend as long as possible staging the photo, arranging furniture and fittings etc, and make sure the lighting is right. Take exterior shots on a sunny day, and do not feature people in your photos. You could also consider filming a video tour of your villa - this gives an added dimension that photos alone cannot deliver, and may give you an edge. Again, however, make sure your filming is stage managed to emphasise all the best aspects of your villa.
3. If your photography and filming skills are not up to scratch, hire a professional! It will probably pay for itself in the first year.
4. If you are not planning to manage the villa yourself, spend time researching and appointing good Villa Managers. The key things you are looking for are high quality and reliable cleaning services (for the pool and villa), laundry, and being responsive and attentive to customer queries. Remember, these people are the equivalent of the holiday rep if you are not nearby.
5. Be realistic with your pricing. Review some of the villa rental sites that are already advertising, and check out some of your competitors in the same geographical area. If you are planning to charge more for your villa than they are, make sure the reasons are obvious in your advertisement!
6. Focus your selling copy on your real points of difference - with so many villas on Lanzarote, you need to have some unique selling points. These could be property features (for example hot spa, private pool), views (especially a sea view), proximity to other attractions (beaches, golf, nightlife etc). Make these USPs (unique selling points) STAND OUT in your villa advertising copy.
7. Advertise - these days, the internet is where people look for holiday villas, so choose sites that rank well for key search terms on Google. How many sites you choose to advertise on is a matter of affordability, but if you are looking for 20 or more weeks of lettings per year, we would recommend advertising on at least two, and preferably three sites, rather than relying on one advert.
8. Show an Availability Calendar - this is a double edged sword, because if it has lots of gaps, it doesn't look good! However, potential customers will need to know your villa is available when they want it, so we'd recommend it.
9. Respond to enquiries promptly, and always within 24 hours. Most enquirers will have written to a short list of villa owners, including you, so simply replying quickly should help you to convert more enquiries to sales. When replying to initial enquiries (which usually ask for confirmation of price and availability), again emphasise your USPs (the points that are unique about your villa), but do this succinctly and factually, without 'over selling'.
10. Add finishing touches - the Welcome Pack, luxurious towels and good linen will speak volumes when your customers arrive, and will encourage them to book with you again next year.
So there you have it - a suggested 10-point strategic plan for successful villa rentals in Lanzarote. Put this plan into action, and you should see the inquiries arriving sooner rather than later.
