Owning a vacation rental can be a great way to generate extra income, especially if you live in an area where tourism is a main source of revenue.
Though the real estate market is seeing a significant surge in buying activity in 2021, studies also suggest that the vacation rental market size could exceed 113 billion dollars by 2027. And this is a significant increase when compared to just the last half-decade.
Regardless, in order to make money on a vacation rental, you can use property management software to save your time and be able to make your rental attractive to renters.
And one way you can do this is by offering amenities and upgrading your space accordingly.
We live in an economy where people want convenience at all times. So keeping this in mind can help you when you begin upgrading your rental.
Here, we’ll explore a few tips for attracting more renters to your space.
You can’t really have a rental without having furniture. As such, you’ll also want to have some of the more comfortable items as well, and this is done in order to help attract more customers.
For example, if you’re browsing vacation rental listings and come across a space claiming “sleeps 4 adults” this might sound great. But if you come across the next listing which reads “All rooms have adjustable beds,” then you’re more than likely going to have your interest piqued on this listing. You want would-be vacationers to consider your vacation rental a dream home, a place they’ll love to stay in while they do all the things they want to do.
Adjustable beds are a great feature to have in a vacation rental. Additionally, pull-out sofa beds are also a nice addition along with a dining room table that seats up to 8 people as well.
In order to come up with a great layout of furniture, you’ll want to really think about who your target renters are, what they like, their age group, and their personal needs.
Believe it or not, but a theme is extremely important when it comes to selling points concerning vacation rentals. And your theme should reflect the area where your rental is located.
For example, if you have a bungalow on the beach but your interior design is more appropriate for a snowy mountain village, this could be quite confusing when browsing your listing. And it may even deter potential customers from renting your space.
Basically, if you have a vacation rental in Dallas, you might consider going with a southwestern theme. And such design elements might include rustic tables and chairs, cow skulls, pictures of oil fields, or anything that reflects the region.
Additionally, colors are also very important when it comes to tying in your overall theme. As such, you don’t want soft beachy pastels on every wall if you’re trying to rent a mountain cabin hideaway.
As mentioned, vacationers love convenience. And if you offer a variety of options when it comes to amenities, your listing is sure to get many more views than other comparable rental properties.
At the end of the day, you’ll probably have the most luck if you offer your guest a bit of everything. And such things you might want to consider are free WiFi, access to streaming entertainment, board games, outdoor games, a full kitchen stocked with dishes, flatware, and other cutlery.
Additionally, you’ll also want to have outdoor amenities as well. For example, a pool or hot tub are great additions that are sure to attract a variety of potential renters. Even adding picnic tables, playgrounds for the kids or other outdoor accessories can greatly increase the value of your rental.
You may also want to mention nearby attractions in your listing as well, especially if your rental is near shopping, beaches, or tourist attractions of any kind.
Upgrading your vacation rental is all up to you and your budget. Just be aware that the more you offer, and the more you have on your rental listing, the greater revenue you’ll be able to generate.