After adding a third "Bedroom" to a rental home but shortly after decided to use it as a STR instead of LTR. We are torn as to what actually attracts more bookings. Should we set it up as a media room, gym, or furnish it as another bedroom ? Thanks in advance
Realtor · Lakeland, FL · Member since 2020 · 73 posts · 72 votes
5y
@Chris Smith Like others have said, it really depends on your particular STR and your market. I'm close to the Orlando area so when people vacation here, it's mostly family vacations. Thus, media/game rooms are valuable to have but depending on the size of the unit, an extra bedroom is also.
In general, some other things that I’ve done is have outdoor games (think cornhole, giant jenga, connect 4). People love that in warmer climates where they like to spend their time outside. I ALWAYS have a pull out couch instead of a traditional one to allow for more people and if the unit has enough space, I also add a blow up mattress to allow sleeping in areas that otherwise wouldn’t be able to place a bed.
Feel free to reach out if you have any more questions! I've done quite a lot of STR.
Rental Property Investor · Lakewood, OH · Member since 2016 · 119 posts · 156 votes
5y
I think it depends on your area. Why are people traveling? Most people will instantly say "another bedroom", which will typically be the correct answer.
my rental with 2 queens typically gets 1-2 guests, 85% of the time id say. Our place with 1 queen and 2 twins (both are 2/1) has families like 60% of the time. But I'm in drive through country with tons of 1 night stays.
Realtor · Lakeland, FL · Member since 2020 · 73 posts · 72 votes
5y
@Chris Smith Like others have said, it really depends on your particular STR and your market. I'm close to the Orlando area so when people vacation here, it's mostly family vacations. Thus, media/game rooms are valuable to have but depending on the size of the unit, an extra bedroom is also.
In general, some other things that I’ve done is have outdoor games (think cornhole, giant jenga, connect 4). People love that in warmer climates where they like to spend their time outside. I ALWAYS have a pull out couch instead of a traditional one to allow for more people and if the unit has enough space, I also add a blow up mattress to allow sleeping in areas that otherwise wouldn’t be able to place a bed.
Feel free to reach out if you have any more questions! I've done quite a lot of STR.
Rental Property Investor · Nashua, NH · Member since 2014 · 587 posts · 477 votes
5y
If the question is whether a 3rd bedroom or shared space nets more profits +1 to the bedroom. A 3rd bedroom’s not just a linear increase in sleeping space, but opens up entirely new opportunities to host different personas than you could ever attract with only 2BRs.
Ex: families or mixed two family groups that need a smaller 3rd bedroom with a couple bunk beds for teens or young children. You won’t get that group with 2BRs and the beauty of it is that bunk beds are inexpensive and kids don’t need many creature comforts other than charging docks for game players and tablets.
Admittedly, house cleaners hate bunk beds but there’s hardly any simpler, more direct means of adding revenue than unlocking family stays, particularly in summer months where longer stays are the default.
Rental Property Investor · San Francisco, CA · Member since 2016 · 118 posts · 90 votes
5y
I'd def recommend using it as a bedroom or den if that's possible. If there's no closet throw in a set of drawers and/or a tree to hang jackets/ clothes/etc if you're cramped for space. Even if you can fit a single or full bed it's totally worth doing so. Also, to make the space look cool, I highly recommend those big murals you put up like wall paper to give it a cool feel. You can find them on Society6. I have one in our Airbnb and it gives it a really cool feel and gives the space some character.