After years of travel restrictions and lockdowns, people are rediscovering their love of the domestic staycation. This is great news for homeowners looking to rent out their property as, with just a few simple renovations, you may be able to capitalise on the growing surge of sun-seekers and vacationers. If you’re planning to enter the property rental business, be sure to establish your business activities under an LLC. This will save you time, money, and headaches down the road as you get your rental home ready.
Here are some of our tips on how to properly prepare your property.
Modernise
When it comes to vacation rentals, modern features such as high-speed WiFi and cable TV are now an expected necessity. If you want to keep your guests happy and coming back, it’s important to modernise the property and ensure that they have the option of staying online. If your area has a weak WiFi signal, it can often be worth investing in a modern router, a long-range router, or even an extender to increase its availability around the house.
If you want to be extra diligent, you could even install a smart home security system. Many families will favor a rental with this extra layer of protection and, using the latest camera technology, lock systems, and even voice activation, you can ensure that your property and your guests are alert to any potential hazards. Making updates like installing a home security system can even raise your property’s value, so make sure to document upgrades and keep receipts.
In addition to securing your property, you likely have things in the house that you’d rather your future guests not have access to. Storing your things securely at Guardian Self Storage will ensure that your belongings are kept safe from potential renters.
Luxurise
If you’re on vacation, that means you’re after something a little extra. To help attract renters and set yourself apart from the competition, it could be worth investing in features that give your property a luxury touch. For example, a hot tub or large jacuzzi is a major draw, year-round—often providing good ROI. Otherwise, you could think about renovating your garden space to accommodate a pool. Pools hold special value in the summertime or in warm-weather climates.
Bad weather can sometimes ruin a staycation and prompt negative reviews. To help buffer the blow of a weekend storm, it may be worth investing in-home features that give your guests something to do when they can’t go out. Exercise rooms and home gyms are useful for those on a long stay who want to stay physically fit. Or you could turn the spare room into a home cinema, sure to keep the kids entertained and a way for the family to get together and experience something unique.
Standardize
Bells and whistles are sure to attract customers but, to keep them coming back, it’s important that your property also contains all the standard home appliances. Basics such as washing machines, dishwashers, tumble dryers, ample cupboards, and fridges are expected of a vacation rental. It’s also worth having a plumber check on the quality of taps, showers, and toilets. Skimping on the simple things is a surefire way to prevent repeat visits or prompt disgruntled emails.
Not all home upgrades require the services of a builder—one big trip to the supermarket is often all you need to stock up your property with extra food, towels, bedsheets, placemats, and added electricals such as irons and hair dryers. Although these might seem like needless expenses, oftentimes it’s the small things that make a difference when it comes to your guests’ experience.
Restructuring a property to serve as a vacation rental is not always as straightforward as it seems, but if you can do the simple things well and sprinkle a little luxury, you’re sure to find guests and keep them coming back.