{"id":194273,"date":"2019-11-27T12:37:13","date_gmt":"2019-11-27T11:37:13","guid":{"rendered":"https:\/\/catalunyacasas.kigobook.com\/?p=194273"},"modified":"2023-05-12T16:13:58","modified_gmt":"2023-05-12T16:13:58","slug":"maximizing-roi-prepping-your-home-as-a-vacation-rental","status":"publish","type":"post","link":"https:\/\/www.catalunyacasas.com\/blog\/maximizing-roi-prepping-your-home-as-a-vacation-rental\/","title":{"rendered":"Maximizing ROI: Prepping Your Home as a Vacation Rental"},"content":{"rendered":"\n

Erin Reynolds<\/em><\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

The<\/em> global vacation rental market<\/em><\/a> is expected to grow to $193.89 billion by 2021. Whether you own a home currently that you want to rent out, or you are looking to purchase a property to use as a vacation rental, you need to do what you can to attract the most visitors and get the best return on your investment (ROI).<\/em><\/p>\n\n\n\n

Upgrading Your Existing Home<\/p>\n\n\n\n

By\nupgrading your home before you try to rent it out, you can charge higher rates,\nattract more guests, and garner more positive reviews, thus attracting even\nmore renters. Some home improvements and upgrades make more of an impact on\nyour bottom line than others.<\/p>\n\n\n\n

Pay attention to the kitchen<\/strong><\/p>\n\n\n\n

Some\ntourists rent a vacation home rather than a hotel room because they want to\ncook and eat homemade meals rather than eating out at restaurants. A beautiful\nkitchen looks great in listing photos and really draws in customers. <\/a>Consider\nrefacing cabinets or replacing countertops with upscale materials. Also, a\nlarge stainless steel refrigerator is always attractive to renters as well.<\/p>\n\n\n\n

Revamp the bathroom<\/strong><\/p>\n\n\n\n

The\nbathroom is another place where you should invest some money. Visitors want to\nfeel like they are on a relaxing getaway, so turn your bathroom into a spa-like\noasis. A large jetted bath tub or a steam sauna are wonderful additions your\nguests will appreciate.<\/p>\n\n\n\n

Don’t forget about the Wi-Fi<\/strong><\/p>\n\n\n\n

One\nthing that travelers often complain about in vacation rental homes is the Wi-Fi\nspeed. A slow internet connection can easily be remedied by upgrading your\nservice. Do it without hesitation because you don’t want to rack up poor\nreviews about the slow speed and turn off future renters.<\/p>\n\n\n\n

Buying Something New<\/p>\n\n\n\n

If\nyou are buying a new property, to maximize your income from the rental, you\nwant it to be in an area that will attract<\/a> a lot of visitors. Think about\nthe type of properties you would rent when you are going on vacation. Many\npeople prefer a waterfront (or at least waterview) property. For example,\nresearch from <\/a>Tripping.com<\/a> found that 83 percent of tourists\nwant a vacation home by the ocean or a lake.<\/p>\n\n\n\n

Look for a home with low\nupkeep<\/strong><\/p>\n\n\n\n

You\ndon’t want to spend a big portion of your monthly profits on upkeep and\ncleaning. Therefore, you should look for a home that is built with\nlow-maintenance materials to save money and hassle in the long run. <\/a>Metal roofs<\/a>, which can resemble slate, can\nwithstand inclement weather, are fire resistant, and often come with very long\nwarranties. Inside the house, low-maintenance flooring such vinyl<\/a> planks and tiles, which are soft\nunderfoot and easy to clean, are wonderful options. Quartz countertops are\nawesome choices in the kitchen and bathrooms. They are as attractive as granite\nbut resist stains, scratches, and high heat.<\/p>\n\n\n\n

Make a good deal<\/strong><\/p>\n\n\n\n

Enlist\nthe services of a <\/a>reputable real estate agent<\/a> who knows your\narea well and try to get the best deal possible on the home. Come in with a\nsolid offer and don\u2019t overpay for what you are getting. If the seller isn\u2019t\nwilling to come down to your price point, be willing to walk away and move on\nto another property.<\/p>\n\n\n\n

Listing Your Property<\/p>\n\n\n\n

Before\nlisting the home on <\/a>Airbnb<\/a>, Vrbo, or other vacation rental sites,\ncheck out your competition. Look at the listings in your area and compare not\njust the rental prices but all the features and amenities in the homes. Get\nprofessional pictures taken of your home, if possible, to increase the\noccupancy rate. According to Build Up Bookings, travelers will only <\/a>spend about 59 seconds<\/a> navigating your website\nand clicking through your photo. So, you have to make those seconds count with\na great impression.<\/p>\n\n\n\n

If\nyou want to delve into the vacation rental market, you need to choose a\nproperty and a location that will attract visitors. It\u2019s also imperative to\nkeep the home clean, maintained, and updated. And of course, to maximize your\noccupancy rate and profit, you have to market it well. However with the effort\nand research, your vacation rental property can bring in a nice stream of\nincome for years to come.<\/p>\n\n\n\n

Photo via <\/em>Pixabay<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Erin Reynolds The global vacation rental market is expected to grow to $193.89 billion by 2021. 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