Upgrade Your Vacation Rental
Many people like to invest in vacation rental homes because they feel there is a more consistent demand for the property. In fact, travelers are starting to choose vacation rentals over hotels because they tend to have more amenities, allow for more people, and makes many vacations more affordable.
As a real estate investor who has a vacation rental, you have to take those reasons into consideration when you are purchasing, updating, and even marketing your house to potential clients. It’s important to focus your money and your time on these things instead of worry about the things that don’t matter.
1. Common Areas Are Important
Families love to come together for vacation rentals because it splits the cost, but it can also mean tighter quarters. On vacation, people probably aren’t spending a ton of time in their bedrooms so that they need a massive amount of space. Instead, having a larger family rooms, deck, and/or kitchen is important.
When upgrading your vacation rental, you want to add seating, tons of lights, tables to set drinks on, and entertainment options.
2. Bathrooms Matter
When on vacation, everyone wants to get the most out of the day. This means that people will be fighting over the bathroom on a daily basis – and people who rent every year will know that and start looking for rentals that have more bathrooms.
Add an additional bathroom or two if you can, even if it just a powder room. Note that they don’t have to be ultra-luxurious or anything too special, they just have to be there.
3. Consider Amenities
On vacation, people want to relax and have a good time, even if it rains. Add little things that could make those rainy days fun, like board games, books, movie collections, a pool table, or a video game system – just make sure to include those in a security deposit.
For outdoor fun and even more amenities, you can add a hot tub, a fire pit, an outdoor area to sunbathe, bikes, or just a few Frisbees. A little bit can go a long way.
One amenity that you might want to think about quite a bit is whether or not you want the place to be pet friendly. If you do, consider adding amenities for the fury friends as well, like dog bowls, a kennel, and a fenced-in yard.
Whether you are just starting out or you are thinking about upgrading your vacation rental that has been around for a long time, here are some great places to start your upgrades. If you are looking for a vacation rental to purchase, you can contact us to start your search.