Tips: Personal use of rental property for owners
Owners of rental properties have a number of personal advantages if they do not exclusively rent out their holiday home or holiday apartment, but also use it themselves, e.g. as a phased second holiday home or as a holiday home for their own vacation. If you are also toying with this idea, we have compiled a few important points for you on the subject of personal use of your rental property.
In addition to legal or tax regulations, there are also very practical things such as the furnishing of your holiday home or holiday apartment, so that as many customers as possible feel as comfortable there as you do. Here you can find out what you need to consider when making personal use of your rental property.
Your advantages when renting and personal use of rental property
If you can call a holiday home or apartment your own, you will benefit from both the tourist rental and the personal use of rental property for your own holiday.
So you can regularly – or sometimes spontaneously – holiday in your "own four walls" by going to your holiday home or apartment. To make you feel really at home, you can furnish your accommodation according to your personal taste and needs. In addition, personal use of rental property for your own holiday saves you the rental costs you would have to pay elsewhere for your holiday.
Time out in your own vacation home – relaxation guaranteed!
During the time you do not use your holiday home or apartment yourself, you receive income from the tourist rental of your accommodation. With this, you can cover the running costs or finance the property per se. This is an interesting aspect that can and should be taken into consideration when making a decision before investing in your own rental property. You enjoy the following additional advantages as a landlord or landlady with personal use of rental property:
- You regularly keep an eye on your property yourself.
- You can judge the condition and quality of your furnishings from your own experience.
- You can take care of repairs, cleaning and similar maintenance tasks yourself or monitor them better on site. You can, for example, replace towels or bed linen or add kitchen utensils that you yourself have missed while cooking.
- You can optimize the attractiveness of your holiday home or apartment for your guests in a more targeted way. These can be practical details such as special and very personal tips on attractions around the holiday destination, e.g. in the form of a reference book you have created in the accommodation. Your own regular experience on site helps here.
These are the aspects you should consider when making personal use of rental property
Among the most important aspects concerning the personal use of rental property for your own holiday purposes are tax and legal regulations. In particular, the question of whether a holiday home is a so-called second holiday home for tax purposes depends on various factors and must be examined in each specific case. It is also essential that you take out appropriate insurance against any damage to your rental property.
A temporary home for you and your guests: Here are some things to consider
Please keep in mind that your guests are spending their holiday at your home in a certain way. After all, especially if the holiday home is a second holiday home, it quickly acquires the status of your own home. This is especially true if the interior design and decoration are decidedly personal. For you, this is one of the great advantages of personal use of rental property. However, if you want to rent out your rental property, you should consider the extent to which you display personal items such as family photos or mementos, or furnish your accommodation with items that have a high emotional value for you. After all, furniture, decorative items or dishes may be damaged by guests. In addition, if your holiday home is too personalized, it may reduce its attractiveness to guests.
How to set up a holiday home so that everyone likes it
If you want to use your holiday accommodation yourself as well as rent it out successfully, it is important that guests feel comfortable in it. They should not feel like they are visiting someone else's house. Depending on the region, your personal tastes may coincide with those of your holiday guests - for example, if special activities such as fishing or sailing are central to the region and you furnish your holiday apartment or holiday home accordingly maritime.
Typical regional furnishings, e.g. in maritime style, make your vacation home a cozy feel-good place to be
In most cases, however, the target group is not specific enough, so you should focus on interior design that appeals to as many potential guests as possible. Do not leave or leave personal items such as family photos, clothing, medications (except a first aid kit), too many decorative items, religious or political signs, computers or even documents in the holiday home. If this cannot be resolved in any other way, it is best to store these items in the attic or basement that is not accessible to guests. If neither is available, use a separate room or a lockable closet.
As a holiday home or second holiday home for you and a holiday home for your guests, your rental accommodation must be furnished accordingly. The following equipment should be present:
- high-quality and complete furniture
- an appropriate amount of crockery, cutlery and linen for the number of guests
- common household items, even if you do not necessarily need them for your personal use of rental property
- a lockable storage room for linen and a well-stocked supply of cleaning products and cleaning utensils
You can find detailed tips for suitable and appealing furnishings in the article "Furnishing your holiday rental – what to consider?”.
Working with a professional partner offers landlords and tenants a lot of advantages. Interhome Group, for example, has over 55 years of experience in renting holiday homes and apartments. The specialist for holiday in holiday homes therefore knows exactly the needs and wishes of its customers.
For example, you will receive comprehensive advice regarding the appropriate equipment, interior design and garden design of your rental property. Together with you, the individual highlights will be worked out, because every holiday home and every holiday apartment is unique.
Interhome Group can also do a lot of the work for you when it comes to tourist rentals. At many holiday destinations, the holiday home specialist is on site with local service offices and, if desired, will take care of the cleaning and maintenance of your rental property and, as a personal contact on site, will take care of, among other things, the handing over of keys upon the arrival and departure of your holiday guests.
Of course, you can also use your rental property yourself within the framework of the tourist rental via Interhome Group after consultation. In addition, there is the possibility to stay in another holiday home of the provider for one week a year free of charge. The so-called "free week package" is to be understood as a kind of holiday home exchange program. So you can spend a week in another holiday home or in another holiday home, if you offer in return your own rental property also for one week in the year free of charge. Due to the large portfolio of Interhome Group, this exchange program provides you with an attractive selection of holiday homes and apartments in various destinations.
Renting out your rental property and partly using it yourself is a great way to get the most out of your investment. However, there are a few things to consider. Be it legal and tax regulations regarding the use of your holiday home as a second holiday home as well as practical aspects such as interior decoration or garden design. A professional provider such as Interhome Group can support you with various tips or comprehensive advice on how best to equip and furnish your holiday home and give it a charming individual touch. In this way, not only you as the owner will feel comfortable in your rental property, but you will also increase the attractiveness of the holiday home or apartment for a successful rental to your holiday guests.
Want to find out more?
Let us advise you free of charge and without obligation. We would be happy to show you your personal rental potential and together work out the right offer for you. Just reach out by filling out the Contact Form.