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Investing in a vacation rental property is one of the most lucrative ways to gain some serious cash flow.
While short-term vacation rentals may require a little more effort to maintain, they can provide greater returns than a typical long-term rental property.
In addition, when you don’t have any vacationers occupying your property, you have a private getaway for you and your family.
However, making money with your vacation rental is not as simple as just buying a property and renting it out.
In order to be successful, it is imperative that you stand out among other vacation rentals. Luckily, there are plenty of renovations you can add to your vacation rental to attract potential renters.
Perks of Renovating Your Vacation Rental
When it comes to renting vacation homes, vacationers are looking for an escape from the hustle and bustle of their regular lives, so it is essential to make your vacation rental as appealing as possible.
Renovating your vacation rental not only makes your home look more enticing to potential renters, drawing more eyes to your listing, but allows you to charge more per week.
In addition, the more updated your vacation rental is, the more people are willing to pay to stay in a nicer home.
So, whether you just invested in your first vacation rental or you are looking for new ways to attract potential renters, here are the top renovations you can make on your vacation rental today.
Remodel the Kitchen
Kitchens are one of the biggest selling points for potential renters. When they’re looking through pictures of your home, the kitchen is going to be one of the first things they notice.
Therefore, it is essential to have updated cabinets, appliances, countertops, and more.
While you don’t have to get super fancy with its design, having a modernized kitchen will help increase both the value and the appeal of your vacation rental.
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Remodel the Bathroom
Like the kitchen, it is essential to maintain and update your vacation rental bathrooms. Old, outdated showers and sinks can be highly unappealing to renters, which can lead to poor reviews and fewer tenants.
At the same time, as a vacation rental, the bathroom will most likely be the most used room in the house, so it is essential to always make sure it is maintained and working properly.
It is crucial to replace items as needed with newer up-to-date models in order to keep your renters happy and satisfied with your vacation home.
Replace the Windows
Another way to kick up the curb appeal of your vacation rental is by replacing your windows.
Not only does replacing old worn-out window frames help boost the appeal of your vacation rental, but it can help reduce your energy costs by keeping your home well insulated.
According to Energy Saver, opting to replace your windows can drastically improve the energy efficiency of your home. So not only will replacing the windows attract potential renters, but it will help limit your overhead costs and improve your profits.
Update the Floors
It is no secret that if you are running a successful vacation rental, your home will see a ton of foot traffic week after week, which can take a significant toll on your floors.
In addition, if your vacation rental is in a beach or lake community, sand and salt water can lead to noticeable wear and tear over time.
Replacing your floors is a great way to maintain the appeal of your vacation rental and give your home a more modern feel.
Maintain the Siding
No matter how beautiful the inside of your vacation home is, if your exterior looks old and worn down, you will have a hard time attracting potential renters.
The siding is the first part of your vacation home your guest will notice, so it is essential to keep it cleaned and properly maintained. Consider repainting the exterior of your home and replacing the siding if necessary.
While you don’t have to do everything at once, updating your home with these renovations is a great way to increase the appeal of your vacation rentals and attract vacationers year-round.
