How To Optimize Your Vacation Rental to Maximize Your Annual Revenue

Although each property is unique, taking care to certain items will lead to an increase in reservations and your overall annual rental revenue.  Competition is fierce and the way your property looks and its amenities are what sells it.  If you aren’t working on making your property the best on the block, guests may quickly move on to the next property in their search, looking for the property that has that cool, mountain modern look, has the king bed, the stainless steel appliances, the wood floors and the huge flat screen TV’s.  Please review this list to see if there are any improvements we can assist you with in order to maximize your revenue potential of your rental property.  The off-season is the perfect time to update your vacation rental in order to maximize your revenue! 

  • Beds. Think about bed size, sleeping capacity and the overall comfort of your beds. 
    • King Sized Beds – This is the most requested amenity that you can control.  We have an option to sort by king bed and guests use that amenity filter every single day in their searches. If you don’t have at least one king sized bed in the property, please consider upgrading in order to be found by more guests.
    • Capacity – Guests always want more sleeping space.  Do you have a Murphy bed in addition to the sofa sleeper in the living room? If not, it is worth considering. A queen size bed in the 2nd bedroom will be more appealing than a set of bunk beds.
    • How long have you had the mattresses? If they are 10 years old or older, please consider replacing them.  A negative online comment about mattress comfort can be hard to overcome. 
  • Televisions. Bigger and flatter is always better.  Consider adding a TV in every bedroom. 
    • A large flat screen TV in every bedroom is the 2nd most requested amenity.  Just because you don’t watch tv in bed, doesn’t mean your guests don’t! 
    • Tube TVs have no place in a vacation rental. Use it as a paperweight at home or go Office Space style on it (just kidding…we recommend taking it to your local recycling center!)
    • Make sure your cords are hidden and all tv’s have a very clean look.  No one wants to see cable cords hanging!
  • Use of Space.  Leave open space, declutter and consider the phrase ‘less is more’.
    • Over-furnished properties are not inviting. Walk around your space.  Do you have plenty of space to move around the property? Is there an unnecessary rocking chair blocking a main walkway? Could you get a smaller coffee table? Is that armoire in the living room being used?  Can your tv be mounted on the wall? 
    • Clutter – Do you have bookshelves packed with dusty books that you are ‘saving to read someday’? Are there fake plants from 20 years ago?  How about knick-knacks on the fireplace mantel that are out of place and out of style?  Chances are, your guests have their own books on a Kindle or app on their phone. Fake plants are mostly just a sneezing attack waiting to happen.  Take a look at your property as though you are the guest and remove anything that might be in the way or just collecting dust. 
  • Furnishings. Look at modern trends. Replace outdated furnishings! Apply a fresh coat of paint.
    • Guests can make assumptions about the care your property has received from online photos.  If your furnishings are dated or faded, they will move on to a property that appears to have been updated more recently.  
    • Artwork is a touchy subject, but try to move to modern artwork.  Particularly mountain scenes, ski-related tend to look great in a ski vacation rental.  W
    • What furniture pieces are the oldest?  Replace one by one if you can’t afford to do it all at once.  Plaid or floral couches? It’s time for a new one!  Fresh paint is an easy project that can completely change the look of a room.  If you need decorating ideas, our team is full of great ideas and suggestions that we can help you with or do on your own.
    • Flooring is another important detail in your home.  Expect to replace carpeting at least every 5 years.  Choose carpeting that is multi-colored, to hide dirt and stains.  Better yet, install a hardwood or vinyl flooring, which is easy to clean and looks great.
    • Choose decor carefully, does it add to the overall vibe?  Is it modern and inviting?  Or is it just taking up space?
  • Personal Items.  Make it comfortable, but not creepy!
    • One family photo is nice, but multiple photos will make the guest feel as though they are invading space.
    • If your closet has clothing or gear that is only meant for your use, please put it into a locked owner’s closet. 
    • Again, think of the earlier statement of less is more!

As vacation rentals become more mainstream, the guest expectations continue to rise.  We know it’s not easy to replace furnishings and electronics, but the payout is well worth the effort.  Our homeowner support team will provide you with guest feedback, but going the extra mile at the beginning will prompt higher quality online reviews and that translates to more bookings at a higher nightly rate.  Interested in joining our property management services program? Get in touch with us today to find out what we recommend at your vacation home in order to maximize your rental revenue this ski season! 

23110 US Hwy 6 Unit 6 Keystone, Colorado 80435
© 2016 Summitcove Lodging
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