You have made a considerable investment by buying your holiday villa which you enjoy visiting several times a year, but the running costs can be excessive and even if you are renting it out, it can still be very expensive to keep!

Here are some tips on how you can maximise income and benefits from your investment or make less expensive to keep, as follows;

• Increase rental income;

You may still have some vacant weeks that you want to fill before the end of the season. In addition to the usual channels such as contacting earlier enquiries, joining rental websites etc. it is worth letting your agent know that the property is available and the discount you are prepare to accept for last minute booking.

• Extend your rental season;

If your villa has a pool, you can extend the rental season from 6 to 8 weeks either side of the main holiday season by installing a heat pump. Generally pools in the Mediterranean region are not warm enough in May/June and September/October for a pleasant swim, especially if they are not covered at night. By installing a heat pump and a pool cover you can extend the season and you could cover the expense of the equipment in just one season. Also you can charge extra for pool heating so the running costs are covered.

• Save Water;

Water is a precious and scarce resource especially in the Mediterranean region. If you have a garden with grass, you should consider replacing the grass with attractive colourful gravel over a porous membrane which lets rainwater seep trough but the weeds cannot grow through it. Also it is best to plant your garden with tropical plants which do not require a lot of water.

• Solar Water Heater and Solar Panels;

Installing a solar water heater can produce a good amount of hot water during the summer months which will reduce your water heating bills. These can be screened with trellis so they cannot be seen. Cell Solar panels producing electricity are a more expensive option and take longer to recover the original investment, but remember that some countries enjoy more then 300 days of sunshine per year, the panels can produce electricity even when you or your guests are not there and in some countries you can sell your surplus electricity back the national grid and get paid for it so it’s worth checking with the local authority and do the sums.

• Join a Villa Exchange programme;

By using the rental value of your holiday home, you can visit other destinations without having to pay rent. Every property is rated, like hotels so you know the standard of other properties. You may wish to do this for a change of scenery or for visiting a warmer country in the winter or even a skiing property. Select Exchange is a specialist exchange site focussed on holiday and villa homes. Visit www.selectexchange.co.uk for more details.