STR features ROI

[Yair Zarmon]

Hello everyone,

We recently purchased a property that will be listed as an STR in the Tampa Bay area and were wondering if anyone can chime in on the ROI of the below features based on their own experience:

1. Glass fence around the pool

2. Temp fence around the pool that can be put up and taken down based on guest request 

3. Outdoor wall murals 

We haven’t seen any fences and thought this could attract a fairly large audience with kids. On the flip side, it wouldn’t look aesthetically appealing to other groups, so perhaps a fence that can be taken down and put up again based on individual request.

The property will be managed by a property manager.

Thanks

[John Underwood]

There is not going to be a one sized fits all ROI for these upgrades. I suspect many will be zero because you are still competing with surrounding properties.

People are going to look for the best price for a similar property. So its hard to push your nightly price beyond what a similar property is listed for.

That said if something gives you a "cool" factor you could see an increase in occupancy or if your upgrade is really desirable you could push your price some and get it.

I'd look at other properties that have any of these upgrades and see if they are cashing in on a higher nightly price or better occupancy.