We tuned into the new HGTV show Vacation House Rules to watch as real estate expert Scott McGillivray shows homeowners how to unlock their properties’ full rental potential. Each episode features a rental renovation with the goal of maximizing a property’s overall appeal and ability to bring in rental income, with tips being shared throughout to help property managers and homeowners alike as they invest money in improving their rentals.
Check out the best tips we learned for you to keep in mind when sprucing up your properties:
Do your research
It’s important to stay aware of your local market and how other rentals in your area are being priced in order to make sure your listings are always priced competitively. Also research what your area is known for and what brings travelers there, and incorporate that into your rentals to increase your appeal to guests. For example if your rental is located in the mountains, try adopting a cabin-like feel with your decor and providing ski equipment to really seal the deal.
Be your guest
Put yourself in your guests’ shoes when making decisions about your properties, and ask yourself what you would want or need as a guest. Then, remember to photograph the elements you have in your properties that you think guests will be looking for. If you’re near a beach or pool, show potential guests that you have towels and beach chairs available to them. Or let’s say your rentals are pet-friendly — show them you have dog beds and bowls on hand! These small details can be what really give your rentals an edge over the competition.
Get noticed
Because people are seeking memorable experiences when they book a rental, embrace what makes your rental special and run with it. By adding unique architectural or decorative elements to your properties, such as an indoor slide, a zen garden, or a movie screening room, you will instantly be offering a more memorable experience for the guests who stay there — something completely different than they’d get in a hotel or at their own homes.
If you can adopt a theme, commit to it
Themed rentals rank super high on booking and search engines. If you can create some photographable moments and quirky themed spaces throughout your properties, then you’re bound to have guests lined up waiting to stay in them. Draw inspiration from your local area or property history, such as doing an equestrian theme in an old carriage house, or a vintage theme in a restored loft. Even if you can create just a few picturesque areas around your rentals, it will swoon guests enough into booking.
Whether you’re taking on a renovation big or small, it’s important to always keep guests at the top of your mind. Think of what will bring guests value, and what will sway them to book your properties over any others. Anything you can do to make your guests’ lives easier or provide them with a one-of-a-kind experience is going to be worth your while, and your investment.
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