Recognizing Rental Renovation
When embarking on a new renovation project, especially one involving a short-term rental property such as an Airbnb listing, there are a few critical considerations to bear in mind. Rental remodeling is not an easy undertaking, and knowing what to do is only half the battle.
Short-term rental properties must adhere to different standards than traditional residential units. An oven, for example, is completely superfluous in a vacation rental and should be removed as soon as possible during a rental redesign.
The bedrooms and leisure areas are the most important aspects of a short-term rental, and they should be addressed in any rental remodel.
The method used to modify your vacation rental home is influenced by the extent of the renovation. You may be able to build the ideal rental home from the ground up if you need to pull down walls and restore plumbing (almost).
Even if your renovations are primarily cosmetic in nature, there are some changes you can make that can improve the overall appearance and feel of your property!
Here’s how to get started on your rental renovation!
Begin by learning the fundamentals.
When starting a rental remodel, aesthetic direction and goal colors are great places to start. Rental properties, as previously indicated, must meet different criteria than regular residential properties.
The most important thing to do in this first phase is to figure out what your prospective visitors will need and make sure those goods are installed on your property. If you want to attract families with children, you’ll need bunk beds and, if you have a pool, safety precautions.
If you want to create a romantic getaway for your target guests, who are couples, you must think of romantic ways to add romance. A double bathtub, a Jacuzzi, a King-sized bed, and plenty of privacy will appeal to couples.
Enhance Your Kitchen
Ovens are not commonly used by short-term rental clientele. Installing a large, energy-consuming oven is a huge waste of money. Does the cost justify the purchase even if it is only used once or twice?
The same can be said for burners with more than two rings. Burners can take up a lot of counter space, but they have many better uses! Spend your money on a high-quality coffee machine!
A wine cooler is an excellent way to add a touch of elegance to higher-end homes! To wow your guests, leave a bottle of wine as a welcome gift!
More closet space means more storage in your own home for you, as well as more places to hide these important STR host materials!
Choose Your Color Wisely
For good reason, residential homes tend to use extremely conservative color palettes. After a long day at work, few people have the temperament to try to unwind in a bright yellow lounge.
Vacation rentals, on the other hand, may have the luxury of being a little more creative! Following a rental makeover, listings should be modern and striking. Experiment with color and integrate some innovative design features, such as one-of-a-kind lighting or wallpaper!
Two of our favorite wall coverings are paper wallpaper and wall-sized vinyl paper. It has a tremendous impact and is really easy to implement. It also easily comes off with the vinyl!
Furniture on a Budget
There are some pieces of furniture that you can save money on and others that you cannot. If you can locate used hard-wood furniture such as tables and chairs, you should do so. Even while we love low-cost furniture retailers like IKEA, the products don’t always last as long as you’d want. Especially on high-traffic items like tables and chairs.
Instead, choose for wooden furniture, even if it must be purchased secondhand. There’s no harm in doing some furniture restoration while you’re renovating your rental.
Optional Splurge Furniture
Some furniture demands a financial outlay. You can’t expect people to pay to stay on your list if you’re using secondhand mattresses. We recommend investing in a higher-quality mattress if you have the money, but IKEA mattresses are quite acceptable. Keep in mind that these may only last two years, so keep that in mind when you buy!
How Can DPGO Help?
Every holiday rental host requires dynamic pricing after the cost of a rental makeover. Dynamic pricing ensures that you receive the highest possible price for your listings in every market. And we do it in real time, right before we change your prices to ensure they remain competitive!
As a revenue management tool, DPGO can also help you keep track of all elements of your vacation rental business. We optimize your listing from top to bottom, and owing to our extensive data capabilities, you’ll always be putting your best foot forward.
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