You purchased your vacation home to rake in a bit of passive income. But your property won’t instantaneously put cash in your pocket. It takes some work to market and maintain your rental, too.
Be aware that some of your choices as a landlord may hurt your vacation rental’s value, negatively affecting your bottom line. So, double-check this list to ensure you’ve improved the following five factors to boost your home’s value for you and your clients.
1. Dingy Paint Job
No matter how strong the bones of your rental property may be, cosmetic pitfalls can turn off potential renters. First and foremost, you should refresh the walls inside your rental. A new coat of paint will refresh the interior of your vacation rental. If you choose a warm neutral, it will make it feel more inviting and cozy, too.
Consider re-painting your property at the end of every tourist season. That way, you can smooth over any scuffs and bumps to keep your place looking its best.
2. Lackluster Kitchen
People rent vacation homes because they want the comforts of their abode while they’re away. As such, they expect to feel comfortable cooking and eating in your property’s kitchen.
You don’t need to completely renovate your rental’s culinary center, but you can do so if you want to really boost your property’s value even more. At the very least, invest in high-quality cooking accessories. Think about adding a nice toaster and coffee machine. The more must-haves, the better — and the more at-home your guests will feel.
When you take photos of your property for vacation rental ads, be sure to highlight these features. That way, potential renters will know they have the perfect kitchen and all the accouterments waiting for them.
3. Pest Problems
It should go without saying, but those who rent your property expect it to be clean in every way. When they see insects or rodents inside, they won’t feel like the place is up to snuff.
Keep your property at its best by investing in ongoing pest control. Doing so breaks up the creatures’ breeding cycle and keeps the home safe from re-entry.
A solid pest control plan will keep your vacation rental pristine, along with regular professional cleanings. All of that combined will give you and your customers peace of mind with every stay.
4. Boring Outdoor Space
Perhaps you have a vacation rental in a scenic locale. If you do, your guests will want to spend as much time outside your home as they do inside. Without a well-appointed outdoor space, though, they won’t be able to take advantage of their surroundings.
Do your best to update your outdoor spaces so that they flaunt the landscape around them. For instance, if you have a mountain house, add a fire pit to help guests through chilly fall nights. Or, place sunchairs and a barbecue grill outside your beach house for summer hangouts.
No matter what you do, the more usable outdoor space you develop, the better it is for your rental prospects.
5. Add Curb Appeal
Finally, the front of your home gives guests their first impression of the place. If they’re unimpressed with the facade, there’s a good chance that feeling will continue once they go inside.
It doesn’t take much to improve the curb appeal of your vacation rental. Pot some new plants, re-paint the front door, add a welcome mat and voilà! You’ve got your home looking great inside and out.
Make Your Rental Work for You
It doesn’t take much to hurt the value of your vacation rental. On the other hand, it’s just as easy to spruce things up and make the property work for you.
So get started with these upgrades to boost your property’s value in the eyes of your potential clients. Then, all you have left to do is watch as the reservations pour in — and the reservation fees line your pockets with passive income.