Looking to draw more renters to an investment property? Or, perhaps your searching for the right vacation rental home? Either way, having the right features and qualities can help increase your rental profits and attract more tenants and guests to your listing. While this sounds like a complicated process, it can actually be quite simple when you follow these effortless steps for making your investment property more enticing and more profitable.
Invest in Areas Where Rentals Will Work
If you’re looking to attract renters to your investment property, you need to look for the right locations. For vacation rentals, choosing a popular vacation and tourist destination, such as Park City, will almost guarantee you more potential renters for your vacation property. As Turnkey reminds, during the ski season, Park City allows beginners and experts to hit the slopes, while Old Town galleries, boutiques, and shops are a draw for tourists throughout the year. Visitors also love checking out Utah Olympic Park, home of the 2002 Winter Olympics. With locations like Park City, your vacation property will always be in high demand, whether it’s a new vacation home or an existing rental property.
Add Amenities That Will Add Appeal
When vacationers and renters pick potential properties, they often go off of their first impressions of those homes. For a long-term rental, attracting quality tenants is crucial to ensuring a consistent stream of income without consistent problems. Getting your property to appeal to those renters means offering top amenities they are looking for in a home, including free parking, private outdoor spaces, updated interiors, and included appliances. Short-term rental homeowners also need to make sure basic amenities, such as toilet paper or an internet connection, aren’t missing from their guests’ experience in order to garner rave reviews that will help draw in future guests. If you do offer any luxury amenities in your rentals, such as pet spaces, be sure to highlight those features in your listing and your marketing efforts.
Keep Design Elements Modern and Sleek
The style you incorporate into a rental property is likely to be much different than that of your own home. That’s because modern tenants are looking for modern design elements when they are searching for the perfect rental home. Sleek and organized are key features of this in-demand look, so make sure your property is free from clutter, both inside and out, and also take care when selecting any furniture or art. Paint choices for a property’s exterior and interior can also enhance the appeal and overall value, so keep this in mind when it comes time to paint or re-paint your long-term rental property. If your investment property is rented as a vacation home, you can select subdued furnishings to complement the home’s location, but try to avoid any overt themes or kitschy decor. Keep elements cozy and on-theme, but don’t go over the top and don’t clutter spaces with too much furniture or decor.
Provide Prompt Replies to Property Issues
Both long-term and short-term tenants expect prompt replies to questions and concerns, especially in regard to needed repairs or issues with your property. You need to maintain an open line of communication with guests and tenants at all times so that you can address any issues promptly as they arise. So, make sure you have a property management plan in place before you list your rental property. Your plan needs to be multifaceted and should include provisions for supply inventory, property instructions, and any plans for personal use. As part of this plan, you may also want to check out property managers, who can assist with many of the smaller details that can be difficult for rental property owners to manage properly on their own.
Whether it’s a long-term home or a short-term stay, renters are looking for a positive experience. So, make sure your investment property provides that experience to potential tenants and guests from start to finish. Give your listing a boost with the right design and amenities and then follow through on any issues to boost the appeal of your home.