Vacation rental: best amenities - offer use of a car?
I'm looking to buy an investment property in the desert of CA, for high end renters who come for tennis and Coachella. I want my property to stand out among the others, to maximize occupancy in both the high- and off-season.
1) What amenities are most desirable for my target market?
2) What if I offered the use of a car (my car, kept in the garage)?
I don't see that a car is typically offered in vrbo/airbnb listings. Doubtless this opens up a can of insurance worms, but it's also a major value add, and solves a pain point for renters. They can uber from airport, then use my car.
Any and all opinions welcome on how to cost-effectively create a highly desirable 3/2 party house in a competitive market.
Thanks!
@Paul Sandhu Congratulations! That's fantastic.
Originally posted by @Paul Sandhu:
There are a quarter million reasons each year I rent to them.
Please message me your top 200, I don't have time to look over 250,000 reasons :)
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In regard to liability, if you decide to do anything like cars, boats, skateboards, kayaks, or ANYTHING, have an attorney write up a simple liabiltiy release and make sure everyone staying at the house sign it.
At our house in Redding, CA our son and all his friends used to practice freestyle motorcross in our backyard. One of the guys dads was a personal injury attorney, and wrote up a release form that he said would stop attorneys like him from suing. We of course limited riding to the kids that were more experienced riders, and had all of them and their parents sign the release.
Just for fun I've posted a few pics, the top one is at our house, the other is Nick Dunne at a jump show. He's one of the best there is.
@Mindy Jensen already beat me to it, but I wanted to mention Turo. It's an airbnb for cars. You could give them the option of renting the car, just on a different platform.
I've never used it in the US, only the equivalents in other countries, but it's been great. Not sure how this would work with bookings and lining it up with the availability of the property. I bet you can have a private Turo link or something to give your guests after booking the property, though.
Perhaps a convertible mustang is a good vacation fit. I rent one car at the moment experimenting. Dollar for dollar that car likely out produces in cash flow 99% of real estate rentals unless your COC is near 100%. Good luck!
Transfer ownership of a scooter to a LLC?
What are your state insurance requirements?
What happens if your vehicle is below their high standards? Wreck, drive through the garage liability....
They should rent their latest and best imports with their own insurance.
Put some hams, steak and best beer in the frig will you?
I'm going to make the assumption you have Uber there. So perhaps an alternative to having a car available is to provide them with a pre-paid Uber credit? Especially for a high-end service include enough for a couple of trips with an UberBlack? (UberBlack is their high-end/luxury car service if you're not familiar with that part of their service). Obviously you'd have to work that allowance/credit into your numbers to see if it would work or not. But that could be a nice incentive that caters to high end transporation while also eliminating the liability of renting a car.
But Turo I'm sure would also be a great option like @Mindy Jensen said. I've thought about doing that with my car.
If you are considering offering a car, bicycles, golf cart, or anything of the sort you will want to do that through a separate contract, with an entirely separate entity. I don't see a lot of value in a car (most guests drive here -- the primary feeder markets are LA and SD). A fancy golf cart might be a big hit depending on the location of the home.
Mid-century modern or other distinctive architecture and design styles, unique breathtaking pools, and high bedroom/bathroom count homes are some of the tried and true ways to stand out here. If you have enough parking in the driveway, I also like to change the garage to a game room. It's good for giving a place to make noise late night without hammering the house, or bothering the neighbors from the pool or outdoor areas.
--John
- Interesting inputs. I've thought about providing a car at my Montana house. Providing a 4 wheel drive might extend my rental period. But then I think, if you don't have your own 4WD to drive here, are you capable of driving up my snowy road?
Thank you for bringing up this topic. I'm looking at Scottsdale and the condo costs are unrealistic long-term, so I was thinking of a vacation rental home not far from the airport. Offering a vehicle in lieu of renting one at PHX is a big plus given the high airport taxes. I was thinking Turo until I spoke with folks that are renting cars out via Turo. What a nightmare!! Also, my friend in Scottsdale provided 3 cruiser bikes with his rental & two were "stolen" and the other is broken beyond repair. I agree with Boise comment, no wheels. I disagree with kegerator. Talk about liability!! I agree with comfortable bed, sheets, pillows, big screen TV with anchored down sound bar, Keurig coffee with Peets coffee pods, provide a book with local restaurants, tours, things to do etc. Keep it simple. Our last vacation rental was vandalized once in 5 years. We made a mint regardless. Best of luck!!