8 Features Your Vacation Rental Needs
Vacation rentals are big business, and even in unique circumstances like COVID-19, you can still make a profit. More and more people are making plans to take a vacation (or staycation) while continuing to be safe. Another reason vacation rentals can be quite profitable is many people prefer the comfort of a comfortable rental home over an impersonal hotel. Whether you are trying to attract guests now or just want to work on getting it ready and then advertise it at a later time, there are a few features that are worth the investment.
First Things First: Starting Up Your New Business Idea
So, you have this awesome idea to start a rental property company but you aren’t sure where to start. We’ve got you covered! First, registering your rental business as a New York LLC can have many benefits; adding personal liability and pass-through taxation can be very beneficial tools to keep your business going for a long time. Second, create a real estate network to look for the right place in the right market. Lastly, keep your place up to date and appropriate for the local market in order to keep people coming back every time they are in the area!
Just as you should protect your family’s home, safeguarding your rental property with a home security system will keep both your tenants and your investment safe. Whether you want a basic alarm system or a state-of-the-art surveillance system with cameras, intercoms, and video analytics, Rockland Security and Surveillance can help. Contact us today to get a free quote for your rental property’s security system.
In this day and age, there is no excuse for weak WiFi in your vacation rental (or worse, no WiFi at all). Guests these days expect to be able to stay connected, whether it’s to catch up on work, post their vacation snaps on social media, or stream their favorite content.
To ensure your WiFi is strong, use a WiFi analyzer like Netspot, which locates weak areas so you can optimize your coverage. Then, you can boost your signal with a WiFi extender.
Modern Entertainment Options
Many vacation rentals have DVD collections, but this is a slightly outdated solution. If you haven’t already, upgrade your entertainment system to something more modern. This can take several forms, from a smart TV (expensive) to a simple Google Chromecast that allows guests to use their own devices to stream. An intermediary option is a Roku streaming stick, on which you can set up your favorite streaming platforms.
A washer and dryer can be a godsend for a guest, especially when they are staying for longer than a week. After all, no one wants to take time off their vacation to go to the laundromat. According to Reviewed, brands like Kenmore, Roper, Amana, and Hotpoint all have great washing and drying machines under $500, so you can offer an extra level of service without breaking the bank.
In New York, it can get really hot in the summer. Air conditioning can really set you apart from the competition, especially during peak season. This can be a big investment, but there are ways to save money, such as using a smart air conditioner, installing fans in certain rooms, and setting it to the highest comfortable temperature. It’s up to you to decide whether you want to give your guests full control of the AC.
Outside Living Space
Guests love having an outdoor space they can use, such as a yard, balcony, or patio. If you have a large outdoor space, you’re in luck. If you don’t have much to work with, there are ways to make a small outdoor area look great. According to The Spruce, a few great additions include string lights, DIY stone or wood patios, and a vertical garden wall.
One of the biggest advantages of a vacation rental over a hotel room is that you get to cook your own meals in the kitchen. However, research by 1 Chic Retreat shows that rental kitchens are often missing crucial basics such as knives, cutting boards, wooden spoons, graters, and non-stick skillets and pans. So, get ahead of the curve and spend some extra money ensuring your kitchen is fully equipped with good-quality utensils.
None of these features can truly be enjoyed by guests if the vacation rental isn't in terrific condition. If you don't have the time to keep the rental well-maintained, consider enlisting the services of a property manager. Not only will they handle maintenance to-dos, they'll take care of the rental agreements for you, as well as the cleaning after the guests have checked out.
When researching features for your vacation rental, it helps to do some research on your competition. Scope out what properties in your area and price range are offering, and read reviews to see what guests really value. This will help you stand out from the competition and ultimately make your rental a success.