If you own a property abroad and do not rent it out, you could be missing out on thousands of pounds a year in additional income.
Recent figures from the Office of National Statistics revealed that some 850,000 Britons now own a property overseas but around 80% of these do not currently rent out their properties.
Good rental returns
According to a survey by Savills Research and Holiday-Rentals.co.uk in 2007, the average purchase price of a holiday home in France was £320,389, the average number of weeks rented was 17, and average rent per week was £945.
This means that over the course of a year, rental income could be as high as £15,645 - money you won't be getting if your property is sitting empty for most of the year.
Growing tourist trade
Despite the credit crunch, it seems that now is the time to take advantage of your property's rental potential as more and more people are venturing overseas for their holidays.
The Office of National Statistics revealed that UK expenditure abroad increased by 10% to £9.6 billion in the first quarter of this year, with many people opting to stay in privately rented accommodation rather than in hotels.
Nick Fullerton, Managing Direct of FC Exchange commented: "This is a good sign that people are still eager to spend abroad... overseas property owners should look at this as a golden opportunity to rent to British holidaymakers".
Regional variations
It does pay to invest in the right area, however, as the level of demand varies from region to region.
Statistics from Holiday-Rentals.co.uk revealed that so far in 2008 the top five most popular regions are Paris, the Riviera, Corsica, Rhone-Alps and Provence.
Paris remains a consistent high performer due to its year-round appeal for city breaks while the Rhone Alps region, which has traditionally attracted skiers in the winter months, is currently gaining popularity as a base for activity breaks in spring and summer, especially since larger resorts such as Les Gets now re-open their lifts and other resort facilities around mid-June.
For tips on how to maximise revenue from your holiday home, see www.holiday-rentals.co.uk