How to Maximize Your Vacation Rental Income
how to maximize your vacation rental income
Use your greatest asset -- your property -- to benefit your bottom line
Renting out a property can truly be quite an investment, but it can also be worth your while if you know how to optimize it to its full potential. Making these effective improvements will not only expand your margins on expenditure, but it’ll ensure you exponentially grow your profit margins too. Here are some tips and tricks to properly maximize your rental and ensure you’re taking in as much income as you can.
Have a well-stocked home
Keeping your rental stocked and full of necessities for renters really does make the difference. Keeping the comforts of home at arm’s length will let the guests know you care, and it’ll take the tedious stocking at a store out of the equation. Things like detergent, fabric softener, extra tubes of toothpaste, or floss in the bathroom are all great things to have on hand. Dish soap, hand soap, and extra bars of body soap are all also great ways to think ahead. Labeling cabinets for extra toiletries will also be extremely helpful for guests to know where they can find things, and they won’t feel overwhelmed in trying to locate everything they need.
Details matter! Get high quality linens for beds, and make sure there’s a couple extra pairs in the linen cabinet so that they have the option of changing their sheets a few times during their stay. Extra blankets, pillows, and high quality pillowcases will go a long way in upping the comfort and livability of your space. If you have multiple bedrooms, make sure to have tons of extra bedding, and pillows in abundance. Your guests should feel as comfortable, if not more, than they do at home.
High quality photos
Photos are what sells your space. Make sure to get high quality images of a freshly cleaned home. If you have amenities such as a pool, make sure it's leaf and dirt free. Take pictures of any patios, balconies, or bay windows to make the home look inviting and comforting. If possible, capture each room in one photo so guests can see the layout, and they won’t have to guess the size of possible living spaces or bedrooms. Don’t skimp out on the photos, guests want more to look through, so they know they’re picking the right rental that suits their specific needs!
Consider owning more than one property
Owning more than one property ensures you’re really taking in all you can. And making improvements as you go to each of these will not only excite guests, but you may get a few repeat renters too. If your guests frequent the areas, they’ll want to look at your properties anytime they visit, and it ensures a good stable profit during those vacationing months.
A Clean space is a must
At Beachside Getaway, we pride ourselves on our handiwork and ability to make every home pristine. We’ll have professional cleaning crews coming by to take care of anything left, and as a fail-safe we always have one last check before guests move in.
Seating and furniture
There’s nothing more frustrating than being somewhere with not enough chairs, couches, or seating. If you have a bigger home that sleeps multiple people, you’ll want to make sure your living rooms or gathering rooms really match that. Sectional sofas, reclining chairs, and loveseats to seat at least two people are great additions to living rooms, and enough bar stools in the kitchen can make all the difference for large families or parties of people.
Reviews are everything
Reviews are extremely important to the integrity of your space, and they are what makes guests want to rent. Negative reviews greatly impact your income, and even one bad one can outshine multitudes of positive ones. Optimizing your space so that guests have no choice but to love it, ensures great reviews, which means guests will be excited to rent your space out based on the other people who were happy there.
Making these changes can turn your home from good to great in a matter of seconds, and it will up the interest and appeal from all people who are planning a trip to Hilton Head Island. Taking the worry and hassle of stocking up on necessities or guessing how big rooms are can be extremely profitable decisions, and are foolproof ways to get more people wanting to rent out your property.