Are you thinking of making changes and improvements to your property to turn it into a short-term rental?
You may feel overwhelmed about spending money before making money. So when my clients ask me where to put their money, I guide them through the answers. Yes, we’ve all heard, "You have to spend money to make money.” However, it is crucial not to let our hearts take control when looking at an investment property.
It is also essential to balance style with comfort. This is one of the main reasons we enjoy helping our clients design their short-term rental properties. Designing an Airbnb requires knowledge of interior design, staging, and hospitality tricks and techniques, and we love all three!
1. A Fresh Coat of Paint
If you follow my blog posts, you know how important and transformative I consider a fresh coat of paint to be. When it comes to designing your home, it provides the best canvas on which we can "paint" your story.
When preparing an investment property as a short-term rental, fresh paint allows you to revive it quickly. This will give you a property that feels fresh and clean, and it will also provide us with the chance to make your property stand out with its own personality and history.
Let's give prospective renters the wow factor and memorable experience they want during their time away from home.
2. Refresh Light Fixtures
Changing light fixtures is another update that you can make within a reasonable budget, and it will bring a space to the current decade (sometimes century). Seeing dated lighting makes us immediately think that everything else in the space could be old and dated.
Guests looking forward to a luxurious experience may find dated lighting off-putting, an aspect that you can easily address before your listing photos.
3. Remove Dated Features
Any property traits that may remind us of decades past should probably be updated. We have already addressed paint and lighting, two design aspects that absolutely show a property's age. Other aspects may be flooring, style, bedding color, art, and accessories.
We are not talking about remodeling a historic home and removing the details that make it unique. Instead, we are talking about freshening up properties while respecting and highlighting their history. Helping the space tell a story in a very sophisticated way will add value to your property and make it desirable to those looking for a refined, one-of-a-kind stay.
4. Opt for Increased Livable Space or Utility
When looking to improve the property with a higher level of investment, renovating may be the answer. It will most likely pay off. A renovation may just include updating flooring, countertops, etc. This will add value and make the property easier to take care of (that would be one of my goals as I advise on the surfaces and materials chosen).
Updates can also include adding square footage to the property. This may be a project that you decide to tackle after the property has already brought some revenue. Once renovated, you will probably be able to raise your nightly rates.
5. Present a Professional Listing
Similar to when staging a property to sell, it is imperative that you plan carefully and pay attention to curb appeal, landscaping, accessories, styling, and, of course, professional photography. Renters will shop online and judge your property according to its presentation.
Bonus Tip: Get an Expert's Opinion
As you move forward, consider hiring a professional. At Peace of Mind Design, we make these decisions every week. We also prioritize studying and staying on top of the trends while we research products to provide you with the best options to utilize while you create an Airbnb Plus experience.
We absolutely love to stay at Airbnbs ourselves, and we believe that it is a fantastic opportunity for both the host and the guest. We want you to succeed while giving your guests the best experience possible.
If you're ready for an expert's opinion (no sugarcoating), we would be happy to help! So reach out, and let’s get to know each other.
See you soon,
Gloria