Luke Jacobz, host of “Instant Hotel”, gives his advice for homeowners looking to create the perfect short-term rental space.
What is one piece of advice you would give homeowners looking to turn their property into a short-term rental location for the first time?
It’s crucial to find an area that has enacted legislation to make short-term rentals legal. If you buy a property in an area that has not yet created short-term rental legislation, it’s possible that your rental could be banned in the future. Also, interior design plays an important part in the long-term success of short-term rentals. Chic spaces, clean lines, and comfort are key factors in return business – that’s everything from living spaces and bedrooms to the kitchen.
What is one common mistake that every rental property owner makes? How can this be avoided?
Not anticipating guests’ needs in advance! Stay a few nights in your property to see what is needed for a comfortable stay. It’s easy to forget the little things, like wine openers, or even the big things, like a functioning TV.
What steps should rental property owners take early on to properly secure their home and investment?
While not everyone has a large budget to pull a short-term rental together, it’s important to not scrimp on comfort and investment pieces, whether couches or mattresses. Also, ensure your property is properly secured – install security cameras on the outside of the rental. Alarm systems are also an option.
What are popular home design trends that property owners are embracing to help maximize their bookings?
Open spaces, clean lines, one-of-a-kind art pieces, layered lighting, and lots and lots of plants. Do your research on interior design so you know how to color and style your apartment so you highlight the best aspects of the space, and minimize and workshop any problem areas. Color also plays an important part in how your short-term rental is received: neutral and light palettes as opposed to an aggressive, multi-colored approach. When it comes to bedding, clean crisp white sheets are a must. Also, ensure your home doesn’t have too many personal touches, as this can make renters feel like they’re intruding in someone else’s space, when you want them to feel totally relaxed and at ease in the environment you’ve created.
How have you seen rental property owners embrace technology to enhance the guest experience?
Technology such as smart door locks vastly improves the check-in experience. Streaming devices, like Roku sticks, make accessing a variety of apps and channels easy. Smart thermostats learn guest preferences and keep the temperature in their preferred range as needed. Voice-controlled products like Amazon Alexa can be used to play music and answer questions.
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