949-392-1999
By Dan Hall
Are you ready to own a vacation rental? It isn’t that difficult to set up a home, apartment, or condo for guests — and the simpler, the better. From upgrades to customer service, these are the best pieces of advice on how to get the job done. As a bonus, you’ll make your rental stand out against the competition.
The Old Dawg’s REI Network wants to help ensure your success, so read on for key advice!
Critical Details
As you consider the location for your vacation rental property, one thing to bear in mind is proximity to your own home, especially if you intend to be your own property manager. You don’t want to eat too much time and money on getting to and from the rental, although if distance or workload is an issue, you can always hire a professional to manage the rental for you.
Also relating to your home, you should consider your business structure. Establishing your new venture as an LLC protects your personal assets, provides tax advantages, and gives your new business validity. On top of all that, you can accomplish this in 6 easy steps without learning the legal ropes of business structures.
A Rental That Wears Well
Now for some fun stuff—start looking for furniture and accessories! Keep in mind, however, that you want to choose materials and styles that can stand the test of time. For example, Floor Coverings International recommends an engineered hardwood instead of a highly-lacquered surface that requires continued upkeep for the floors. This is especially important if you do not have the time or the financial resources to keep high-maintenance features in perfect working order.
Convenience Is Crucial
Your rental should be convenient from start to finish. It should be easy to locate online, with photos and a description that clearly and accurately represent it. If possible, offer your guests 24-hour check-in, and make sure the unit is ready upon arrival. You should be readily available as well, in case they need anything during their stay. If the dishwasher leaks, for example, or if housekeeping missed something, react quickly so you don’t ruin their vacation — and receive a negative review in the process.
Upgrades That Add Appeal
Speaking of the dishwasher, it pays to upgrade the appliances in the kitchen. Few things date an otherwise modern home as quickly as a 10- or 20-year-old refrigerator. There are exceptions, and if you own a vintage property, you can maintain its charm by purchasing era-appropriate appliances. Old House Online notes that you can even conceal modern appliances so these do not take away from the ambiance of the home.
Clean and Uncluttered
The cleanliness of your rental is more important than its design or the materials you’ve chosen. If you do not live nearby, you will need to employ an individual or housekeeping service to deep clean the property after every booking to prepare it for the next. You will also want to remove any unnecessary furniture or clutter. Not only does having fewer pieces make it easier to clean, but as Dr. Karyn Shanks explains, clutter can cause stress, which is the last thing you want for your renters while they are in your home.
Designing a vacation property is not that difficult. Know what your visitors are there to see and create a setting that enhances the experience. After that, give them a clean and functional place to rest their weary heads, and they will be counting down the days to the next time they can call your apartment their temporary home!
Connect with The Old Dawg’s REI Network for more real estate investment tips and information!
