Make your short-term rental investment property stand out

Ok, you have done the research, engaged a great real estate agent and purchased a great short-term investment property—but what’s next? You need to engage a professional short-term rental property manager and make your investment property stand out! For the tips and tricks that will help make your investment property a luxury getaway read on.

Let’s first look at your new rental property and how we can make your short-term rental investment the property of choice for the discerning traveller.

The top things that will make your short-term rental properties stand out from the pack are:

• Location – Location is the number one consideration when it comes to your short-term rental property. For the holiday traveller short-term lease options in the centre of town will add appeal. Whereas short term rentals located near government departments will attract executive guests that wish to be close to their employment.

• Amenities – The bar has really been raised in relation to amenities. Pools, gyms, and entertaining areas are now, more or less, standard. If you want to go that extra mile with your short-term rental property, then you may consider drinking and dining establishments on site as well as day spas and communal gardens.

• Provide a parking and charging station – It might seem appealing to rent out your parking space in your building, but Canberra is three hours away from Sydney and having parking, and possible charging station for an electric vehicle, could be a major selling point for an executive short-term rental.

• Consider the demographics in your complex – get to know the neighbours in your building. Consider whether your short-term tenants will feel comfortable in the complex they are staying in.
Other expenses – there are other costs associated with your property such as body corporate fees, rates, and utilities. Your rates need to be competitive with other properties in your area.

• The differences between long-term and short-term rental management – When looking for a property manager to manage your investment property, you first need to determine the type of rental they will manage.

There are also some more basic things you can do to improve the look and feel of your short-term rental property such as:

• Get assistance from an interior decorator or stylist to give your short-term rental the latest and greatest look and feel.

• Make sure that your investment property is up to date on its maintenance and is clean, open and pleasant.

• Undertake small renovations that make the most impact on your short term rental. This could include replacing curtains, updating cooktops or replacing the refrigerator. 

• A new coat of paint is a great way to add new life to your short-term lease or holiday accommodation. Don’t go crazy with the latest statement colour or pattern because it won’t last. Instead, stick to neutral colours that will stand the test of time and open up the space in your rooms.

• Adding storage to your short-term investment property can really add appeal to your property.

Want to go a step further to improve the rentability of your investment property? 

• Make your property pet-friendly – Many tenants will appreciate the opportunity to bring their pets with them into their home. Potential tenants will appreciate being able to bring their loving pet with them on their trip.

• Add a security system – This can be good for you and for your insurance policy, as well as giving your guests peace of mind that there is an added layer of defence to keep them safe.

• External appeal – Make sure the external appeal of your short-term rental is just as good as the interior. This means any garden must be neat and tidy and the hedges and the nature strip should be well maintained. 

• Highlight your selling feature – whether it’s large windows or a big bedroom, you need to make sure the key selling feature of your investment property is front and centre in your listing.

Of course, once you have your short-term rental property you will need to market it and rent it out. If you are wanting to make the most of your investment property then it’s important to have professional involvement through hiring a property management team, like Accommodate Canberra. From check in to check out we are available 24/7 to make sure your guest’s needs are attended to—leaving you to sit back and enjoy the benefits of your investment.