Owning property is prestigious and profitable. Even better if you have alternative accommodations and can rent one through Airbnb. However, in order to get the highest possible income from renting out an apartment or house, you need to make it attractive to potential tenants. How to do it? When preparing your house for rental, consider the following checklist:
1. Decide on the target audience
Yes, this is the basic rule if you want to earn income from your property. You must clearly understand the target group of people to focus your apartment or house on, as well as the reasons for the potential interest of customers. You should answer this question even before you start making repairs or buying furniture.
A common mistake of many homeowners in prestigious areas is to make an elite renovation of their apartment or house and to rent it out at a higher price. However, the market may think differently. Your expensive wallpaper, high-quality ceramics, trendy kitchen, or branded electronic equipment may not be appreciated by your target group of tenants. Keep in mind that most people just want a basic, no-frills rental property.
2. Invest in renovations
Before listing your home for rent, carefully clean it first. If necessary, update it or make minor repairs. We don’t mean large-scale repairs and big investments – you just need to pay attention to any dirt or damage in the decoration of your apartment or house and repair them. Scuffed walls, leaky faucets, or broken furniture handles can turn off a potential tenant and therefore should be repaired, especially considering it’s pretty cheap.
Also, look at furniture, appliances, and other home amenities for Airbnb guests. Do you consider them obsolete morally and physically? Such investments today won’t cost much but they allow you to rent out your property quickly and profitably. If you decide to repaint the walls or re-glue the wallpaper, think about choosing colors. It’s better to stay in calm and traditional colors, such as white, light blue, beige, light gray, etc.
3. Think about the necessary infrastructure
Your Airbnb should include convenience such as on-site or nearby parking. Yes, today many travelers use car rentals to move around the area. Cars for rent provide convenient and cheap transportation but require additional preparatory procedures from you. What do we mean?
Imagine that your potential guests have picked up, for example, El Paso exotic car rental and are heading to your apartment. They probably would like to leave it in a safe place upon arrival. Therefore, offer them parking near the house or apartment, or at least share the address of a nearby parking garage. These little things will improve the rating of your property and keep future guests satisfied.
4. Make your property stand out
Professional hoteliers and management companies know that people choose rental properties with their eyes. A unique layout, ceiling lighting, eye-catching curtains, an original armchair, and similar interior details can catch the tenant’s attention. Therefore, if your apartment is not particularly attractive among competitors, you can’t do without such accents.
The right lighting, unusual rug, and trendy curtains can do more than a major renovation for your property! Of course, don’t go too far. Contact professional interior designers to properly think over and place accents in the interior. The effect of their work won’t keep you waiting – well-furnished apartments will find tenants 40-50% faster!
5. Check the functionality of all systems
Before renting out an apartment or house, check the plumbing, electrical, and gas equipment for proper operation. This allows you to avoid conflicts with tenants in the event of a short circuit or gas leak.
If you see that the condition of pipes and wires in your property is poor, consider replacing them, as this will secure your property. This will be much cheaper than repairing the consequences of a fire or flood due to malfunctions.
6. Prepare the kitchen and appliances
Today, most tenants evaluate the condition of the apartment by the appearance of the kitchen and bathroom. Why? This is because they wear out the fastest and, as a rule, greedy hosts prefer not to get involved in their repair and renovation.
If your apartment/house has a poor kitchen or bathroom, neither modern rooms nor an elite sofa with a TV can compensate for it. Tenants simply won’t consider your option in this case. That’s why pay special attention to the condition of the kitchen and bathroom when preparing an apartment or house for rent. These actions allow noticing problems with leaking pipes or poorly functioning ventilation in time.
Overall, transforming your home into an Airbnb is easy. You just need to follow our advice and act accordingly. Also, you can put yourself in the role of a tenant and think about what you would like to change. A happy guest is the best indicator of effort. As a result, you will receive positive feedback and many new tenants that will bring you financial success!