Real Estate

Understanding Rental Renovation

When starting a new renovation project, especially one involving a short-term rental property like an Airbnb listing, you’ll need to keep a few crucial points in mind. Rental remodeling is not a simple task, and understanding what to do is only half the struggle.

Short-term rental properties must meet different requirements than standard residential units. An oven, for example, is just unnecessary in a vacation rental and should be one of the first things removed during a rental remodel.

The most significant parts of a short-term rental are the bedrooms and leisure areas, which should be addressed in any rental refurbishment.

The method for remodeling your vacation rental property is determined by how extensive the renovation must be. If you need to tear down walls and reinstall plumbing, you may create the ideal rental home from the ground up (almost).

Read more: Gutter Replacement

If your renovations are more cosmetic in nature, there are still certain adjustments you can make that will improve the entire appearance and feel of your property!

Here’s how to begin your rental remodel!

Begin with the Fundamentals.

When commencing on a rental remodel, aesthetic direction and goal colors are excellent places to begin. As previously stated, rental properties must meet different criteria than typical residential properties.

The greatest thing to accomplish in this initial phase is to determine what your prospective guests will require and ensure that those items are installed on your property. If you want to attract families with children, you’ll need bunk beds and safety precautions if you have a pool.

If you want to create a romantic getaway for your target guests who are couples, you’ll need to think of ways to incorporate romance. Couples will appreciate a double bathtub, a Jacuzzi, a King-sized bed, and plenty of solitude.

Improve Your Kitchen

In general, short-term rental clients do not use ovens. Installing a large, energy-guzzling oven is a major waste of money. Even if it is utilized once or twice, does the cost justify the purchase?

The same is true for burners that have more than two rings. Burners can take up a lot of counter space, yet there are far better applications for them! Spend the money on a high-end coffee machine!

A wine cooler is a terrific way to add a touch of luxury to higher-end properties! You can even leave a bottle of wine as a welcome present to impress your guests!

More closet space means more storage for you in your own home, as well as more locations to hide these essential STR host supplies!

Select Your Color Wisely

Residential dwellings, for good reason, tend to stick to extremely conservative color palettes. Few people have the temperament to try to relax in a bright yellow lounge after a long day at work.

Vacation rentals, on the other hand, may afford to be a little more inventive! Listings should be modern and impactful following a rental refurbishment. Play with color and incorporate some creative design elements, such as unique lighting or wallpaper!

Paper wallpaper and wall-sized vinyl paper are two of our favorite wall coverings. It has a significant impact and is really simple to deploy. It also comes off easy with the vinyl!

Budget Furniture Options

There are some furniture pieces on which you can save money and others on which you cannot. If you can find used hard-wood furniture such as tables and chairs, you should absolutely do so. As much as we adore low-cost furniture stores like IKEA, the products don’t always last as long as you’d want. Particularly on high-traffic items such as tables and chairs.

Instead, go for wooden furniture, even if you have to buy it used. While you’re in the rental renovation process, there’s no harm in undertaking a little furniture restoration.

Splurge Furniture Option

Some furniture necessitates the expenditure of funds. If you’re utilizing second hand mattresses, you can’t expect guests to pay to stay in your listing. Mattresses can be purchased from IKEA for as little as $250. If you have the money to spend on a nicer mattress, we recommend investing on a higher-quality model, but IKEA mattresses are quite adequate. Keep in mind that these may not live much more than two years, so keep that in mind when you buy!

How Can DPGO Assist?

After the cost of a rental makeover, every holiday rental host need dynamic pricing. Dynamic pricing ensures that you get the greatest price for your listings in any market. And we do so in real time, immediately before we update your prices to ensure they are constantly competitive!

DPGO, as a revenue management tool, also assists you in keeping track of all aspects of your vacation rental business. We optimize your listing from top to bottom, and you’ll constantly be putting your best foot forward thanks to our comprehensive data capabilities.

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