Short-term vacation home rentals have a lot of competition. There are hotels and motels in the city, and there may also be other people in the same neighborhood offering their property as well.
As a result, it’s important for your home to be in the best shape possible.
All appliances, such as dishwasher and refrigerator, should operate properly. You may be used to giving your fridge a kick whenever it starts to hum noisily, for example, but someone staying in your house will not expect to have to do this. They will not expect to have to be careful about having too many things plugged in at once, which could result blowing a fuse. So if that’s a frequent occurrence, rewiring by a professional electrician would be necessary.
When you are preparing your home for rental, thoroughly inspect each room from the bathroom to the bedrooms to the living room to the garage, and make a list of any items that need to be fixed.
But just making sure everything works may not be enough. Think about any upgrades that your home might need as well.
Upgrades do not necessarily need to be expensive, either. There are many things you can do for under $500 that may make all the difference in the success or failure of your vacation home rental project.
Download Your FREE guide to evicting a tenant!
We hope you never have to evict a tenant, but know it’s always wise to prepare for the worst. Navigating the legal and financial considerations of an eviction can be tricky, even for the most experienced landlords. Lucky for you, the experts at BiggerPockets have put together a FREE Guide to Evicting Tenants so you can protect your property and investments.
Painting or Wallpapering
A fresh coat of paint or wallpaper in each room can help to make a “lived-in” home look new again.
Choose a washable paint that is light in color. A light color makes a room look larger and more inviting. Examine the walls carefully and spackle any holes before you apply the paint.
You have the option of hiring a professional to do this paint or wallpaper job for you. If you are used to painting, you can do it yourself, but make sure you put down protective dust sheets and tape wooden surfaces to protect against any unwanted paint spatter.
You’ll want to get all the painting done a couple of months before you start renting out your home in order to make sure that that “new paint smell” has dissipated.
It’s not necessary to carpet the entire home, just the rooms that will get the most use, such as the bedrooms. Always put down the carpet after the rooms have been painted, and make sure it is of good quality and with a padding beneath it. The carpet may be of a slightly darker hue or color than the walls. Make sure it is easily washable!
New Kitchen Appliances & Equipment
These days, having both a microwave and an oven in a kitchen are considered de rigeur.
Even top-of-the-line microwaves do not cost that much these days, and they will get a lot of use. So if your current microwave is more than five years old, consider getting a brand new one. You’ll want a model that has an automatic turntable and sensors that help food cook efficiently.
Overhead Light Sensor
Putting in sensors that will turn on overhead lights as soon as someone enters the kitchen will please your guests. This way, they won’t have to hunt to find where the light switches are hidden!
The more light cast on a subject, the better, and that includes in the kitchen. Lighting can be placed underneath cabinets, for example, to illuminate the entire counter space. People who like to cook will appreciate this.
Sensors that turn faucets on or off are extremely popular these days, and your guests will love them. Faucets fitted with such sensors cost as little as $80, although they can go up to $500 or more. There is a wide variety to choose from.
Just as automatic lighting is helpful in kitchens, so it is also of use in bedrooms and bathrooms. Simply put a motion-activated light sensor by the door in each room. Not only is it convenient, but it also adds a bit of sophistication to the home.
There are certain items that everyone expects to see in a bathroom. A vanity beneath the sink, for example, in which one can store toilet paper and other items is important. Newer homes come with a vanity standard, but if you have an older home, you may need to purchase one.
Towels, Rugs & Bathmats
Purchase high-quality towels, rugs and bathmats for the exclusive use of your guests. They should be of a matching color to give the bathroom a “finished” look.
Matching Sheets & Blankets
Purchase matching sheets and blankets for the exclusive use of your guests as well. Not only will they provide a sophisticated look to the room, but it will be easier to keep track of the bedding if you can tell which is “yours” and which is for your guests.
Most people like to read before they go to bed. In addition to overhead lighting, consider purchasing a couple of standing lamps for either side of the bed.
A Green Lawn
While your guests will be most interested in the appearance and “livability” of the interior of your home, the exterior is of course very important as well.
A lush green lawn contributes to the appearance of any home. If your lawn has dead spots, upgrade by re-sodding the affected area. Make sure you know how to care for the new sod so that it survives and thrives!
Planting flower beds adjacent to your house and in certain selected spots in the lawn itself can contribute greatly to the attractive appearance of the home. Choose flowers that are bright, colorful and hardy.
If your local garbage collector does not provide you with collection bins, consider purchasing large, wheeled bins on your own. These enhance the look of these needed items and make them easier for people to use.
There are many simple and inexpensive upgrades you can carry out to ensure that your guests feel comfortable in your home. Make sure you keep track of all purchases so you can claim them on your taxes!
Investors: What would you add to this list?
Let me know with a comment!