House
Home exchange is a simple idea: instead of booking a hotel for your forthcoming trip, you join an online exchange scheme which allows you to ‘swap’ your property with that of another homeowner elsewhere in the world - cutting the cost of your own holiday accommodation almost to zero in the process.
After joining a scheme, members browse the site to identify properties in their chosen destination and make direct contact with the owners to negotiate a property swap.
Although home exchange has been well-known in North America since the 1970s, it is still a comparatively new concept for UK homeowners. Dianne Stewart, founder of Homes-Club International gives her tips for those considering their first exchange:
Do ….
1. Choose a company which provides you with something in common with other members - dedicated exchange organisations for senior citizens, teachers, etc. Common ground makes you more comfortable from the outset and gives you an insight into potential ‘exchange partners’.
2. Highlight who your home is suitable (or not suitable) for - if it has steep stairs with no railing then it will not be suitable for young children; if it is deep in the countryside then it will not be suitable for those who prefer not to drive.
3. Get to know your ‘exchange partner’ - take the time to build up a relationship in advance of the exchange. E-mail is great for initial contact, then telephone and Skype help to make sure you’re comfortable with each other.
4. Check your home insurance - most insurers are happy for you to offer your home to non-paying guests rather than leave the property empty.
5. Sign a contract - no matter how friendly your exchange partner seems, you should formalise the details in writing. Home exchange sites such as Homes-Club International offer a sample contract which can be used as a guideline and amended as necessary.
Don’t ….
1. Give too much information away on the website - initial contact with a potential exchange partner should always be through the website. Nobody should be able to see your contact details and make sure you don’t reveal too much detail on the open web about where you live and your planned travel dates.
2. Include pictures of people in your home listing - home exchange is about showcasing your home and what it offers as a holiday base - not undermining your family’s privacy.
3. Misrepresent your home - if your home is on a busy road or located away from convenient transport links, be honest. It’s important that potential ‘exchange partners’ know what to expect. And if your home only sleeps five people, don’t be tempted to invite a family of six.
4. Buy plane tickets until you’ve signed the contract - think of the many things that could make it necessary for you to alter your holiday plans. All of these things apply to your exchange partner as well. Get everything agreed and signed before you book your flights.
5. Consider breaking the agreement - your exchange partner may have booked airline tickets and made other arrangements. If you are forced to change your plans by extreme circumstances, show goodwill by trying to source alternative accommodation for them.
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