How Often Should I Upgrade My Property? ~ The Business Blog
As a vacation rental owner, you’ll want to ensure your property is upgraded regularly to accommodate for normal wear and tear. Not to mention, a beautifully renovated home is the key to attracting repeat guests. If you’re asking yourself “How often should I upgrade my property?” then we have the answer for you! You will also find that there is not one clear answer; furniture, rooms, and appliances all need to be upgraded at different points in time.
Once the peak booking season dies down and you’re able to schedule some time for upgrades, knowing where to start is key. Now that you’ve tackled the “when,” you’ll need to narrow down the “what” and the “how.” We’ve selected a few important parts of renovating to help streamline the process for you. Part of our vacation rental management services include helping you make the most of your space; contact us today to find out just what we can do for you!
From couch upgrades to a new bedroom set, these changes can really liven up your property. When an owner upgrades furniture regularly, it shows that they care about guests’ comfort and satisfaction. Purchasing specific pieces of furniture can also pull a space together; for example, purging a bulky armoire and using a wall mount or stand for the TV. Even something as simple as adding new barstools at a breakfast bar can contribute to a space!
Kitchens & Bathrooms
Kitchens and bathrooms see the majority of foot traffic in a vacation rental and are likely to be the most costly when it comes time for repairs. You are sure to see the highest return on your investment when you dedicate time, money, and effort to these rooms.
While standard white kitchen appliances and laminate countertops are the most cost-effective, it helps to spend a little more on stainless steel appliances and granite or quartz countertops. In today’s rental market, these are commodities guests expect to see. They also take your property from average to upscale, showing repeat guests that the property is high quality and well cared for.
Just like in your full-time home, taking a fresh coat of paint to the walls can freshen up any room in the house. It’s no secret that style changes over the years, and this rings true for paint colors. Open up any interior decorating magazine and you’ll notice that styles have changed from bright pops of color to neutral themes, with grays, soft blues, and off-whites becoming the premier color scheme. These clean and simple colors make a room feel larger, brighter, and cleaner. Start with one room, like the living room, to see just how much of an impact you can make!
Whether you’re an existing homeowner wanting to know how often you should upgrade your condo, or a new owner wanting to know how you can net more, contact us today! Our vacation rental management services are all designed with you in mind.