Owning a vacation rental property is one of the best ways to diversify your real estate portfolio while also building your wealth. It is a great additional source of income and a nice place to relax if you want to have some rest and recreation. You get to have your own vacation home while also gaining profit from it. But managing a vacation rental can have its highs and lows.
Are you struggling with getting regular bookings for your vacation rental business? With the increasing competition among vacation rental homes, this can definitely be a challenge. Some rental homes offer more amenities than others and this is a big factor that guests consider when looking for a vacation home to rent. This is why it is important to make occasional upgrades to your vacation rental.
Here are 6 vacation rental upgrades that convert rental inquiries to bookings:
1. Invest in a fully-functional kitchen.
2. Spruce up the bathroom.
Another factor that most guests consider when looking for a place to rent is the bathroom. Unfortunately, most home rental owners don’t pay much attention to this area. They think that as long as there’s running water and proper drainage, everything’s good. But you can definitely do more than that! Improving your bathroom can make a big difference in your home rental.
Start with the basics. Ensure that the water heater works, check if the toilet is flushing properly, and make sure that the plumbing is regularly maintained. Upgrade your bathroom by providing your guests with a spa-like experience. This can be achieved by adding simple touches such as providing fluffy white towels, complimentary robes, nice-smelling soap, shampoo, and scented candles.
3. Upgrade the bedroom.
More than just having a place to sleep, some people rent vacation homes to indulge in luxury. This is what most guests find enticing in hotels – the king-sized bed with a comfortable mattress, topped with large fluffy pillows, and a warm comforter. But some people opt to rent vacation homes instead of hotels because of their flexibility and amenities. So why not give them both? Give them the luxury they want by upgrading the bedroom. Invest in high-quality bedding. Aside from this, make the room aesthetically pleasing that potential renters won’t be able to resist once they see the photos on your listing.
To increase your profit, you can also optimize sleeping spaces. More number of guests that you can accommodate per booking means more rental income. For some rooms, consider having bunk beds or pull-out couches. But make sure that you do this without cramping the space and without compromising the aesthetics. Ensure that the space will remain appealing and comfortable for guests.
4. Secured parking
Make sure to provide secured parking for your guests, especially if it can be difficult or expensive to park in the street. Many guests look for private parking when booking a vacation rental as it’s more convenient and makes them feel safer.
If you currently don’t provide parking at your vacation rental, consider investing in a carport or garage if you have enough space. Trust me, it can be a worthwhile investment that can multiply your bookings.
5. Free WIFI
One of the first questions guests ask when booking a vacation rental is: “Is there WIFI?”
WIFI is an essential service nowadays that people expect to have even when on vacation. People want to be able to stay connected to their loved ones, post photos of their vacation on social media, play games on their phones, and more. The number of people who work remotely has also tremendously increased since the 2020 pandemic. Some of these people book vacation rentals just so they can work somewhere more relaxing, but they might still need to report to work and attend meetings.
Offering free WIFI can take one worry off of people’s heads. They’ll be able to truly relax, work, play, and do whatever they want to do while staying at your rental. Your guests will thank you for providing free and working WIFI.
6. Make your rental property pet-friendly
While it might not be considered an upgrade, transforming your vacation rental into a pet-friendly oasis will definitely widen your market. People with pets often have a harder time finding a vacation rental that accepts pets. You’ll be able to increase your bookings if you practice some precautions and allow pets on your property. Of course, you should charge an additional fee or pet deposit in case of any unexpected damages that their furry friends incur.
By not only maintaining but continuously upgrading your vacation rental, you’ll surely be able to increase your bookings and multiply your earnings in no time. Remember, the key to a successful vacation rental is great reviews — and the key to great reviews is great experiences.