Do you have a tourist property and would like to charge more for renting it? Does your property not receive the number of reservations it had in the past? By upgrading its amenities, it is very likely that you will achieve the change you desire! But before you start spending your money on upgrades, keep in mind that not all amenities are made equal and do not have the same return.
According to AirDNA, a data platform for short-term rentasl, some amenities are much more cost-effective than others – especially in increasing occupancy levels, daily rates or both.
Hot Tub
If your property is in the mountains where the climate is colder, a hot tub can be a very smart choice. Of course this does not mean that it is unnecessary in coastal areas. Properties with hot tun, no matter the area can have a higher average daily price as well as higher occupancy rates compared to those without. But you have to be careful about the property you are going to place it in as they have a significant cost. Both the initial and long-term costs are not negligible so weigh all the data well before installing one on your property.
Fireplace
A fireplace increases the average daily rates in all areas and also improves occupancy rates, especially in mountainous and rural areas. Although it is considered as a plus, it is very useful in coastal areas so if your property does not already have a fireplace, adding one is probably not worth the investment.
Washer / dryer
Installing a washer and a dryer can be a great way to earn more per booking. According to the data, washing machines and dryers significantly increase the daily prices in every area. They also significantly increase occupancy rates in all areas and especially on coastal areas.
Just keep in mind that a laundry will significantly increase your property bills especially if the tenants stay for long periods of time. You need to be prepared to pay bigger bills as well as any maintenance costs that may be incurred.
Dishwasher
A dishwasher is just as popular and is something that can help an owner upgrade their tourist property. It’s also a great way to enhance your guest experience. After all, no one likes to clean dishes by hand.
Smart TV with Streaming services
Watching your favorite series on a big screen is much better than watching it on your tiny cell phone screen. If combined with a comfortable sofa, a well-designed space and a glass of wine, so much the better. Your guests will love a Smart TV will have at least Netflix. The best part is that almost everyone has their own account and can use it anywhere, so you do not have to pay extra for a subscription.
Accommodation for pets
Allowing pets on your property is a surefire way to generate more revenue. Pet-friendly tourist properties not only have higher daily rates but also higher occupancy rates which translate into more bookings and revenue.
As a host, taking advantage of this trend is very easy and all you have to do is change your property policies. If you really want to reach out to pet owners, you can add bowls for water and food as well as a few other touches.
Barbecue or grill
A very popular activity that tourists do to spend their day is lighting up the barbecue. For this reason, it is not at all surprising that guests are often willing to pay more for a property that has a private barbecue or grill. Also note that a good barbecue can offset the disadvantages of a small kitchen.
Coffee machine
Does anyone remember what life was like before coffee? For many of your guests’ coffee is very important and the opportunity to make their own quality coffee may add a touch of luxury to their vacation, while to others it will provide the opportunity to continue an important routine of their daily lives.
The choice of Coffee machine will depend purely on the tourist market you are targeting, your budget and the space available. There are plenty of options, so whatever it is make sure you add some instructions to your house manual.
Bonus: Unique decoration
A unique decoration is a simple way to make your property stand out from the competition. Visitors see many properties with similar furniture, bedding, lighting and décor. Filling your property with unique decorative elements catches the eye and brings more clicks your way!
Dazzle your prospective guests with a chandelier in the living room, a unique dining table and elegant lighting in the kitchen. Bedrooms with unique furniture are a must and a featured wall in the bedrooms are a welcome addition. Our advice is to hire a professional decorator. It is a cost that will enhance the value of your property for the years to come.
Conclusion
Equipping your property with the right amenities can play an important role in how successful your tourist property will be. Something to always remember: While adding some of the above amenities will greatly improve your income, none of them are free. As an investor, you should make sure to weigh the initial cost and maintenance costs for each of the amenities before installing, especially for larger ones such as the washing machine or hot tub.
Do you have a tourist property and would like to charge more for renting it? Does your property not receive the number of reservations it had in the past? By upgrading its amenities, it is very likely that you will achieve the change you desire! But before you start spending your money on upgrades, keep in mind that not all amenities are made equal and do not have the same return.
According to AirDNA, a data platform for short-term rentasl, some amenities are much more cost-effective than others – especially in increasing occupancy levels, daily rates or both.
Hot Tub
If your property is in the mountains where the climate is colder, a hot tub can be a very smart choice. Of course this does not mean that it is unnecessary in coastal areas. Properties with hot tun, no matter the area can have a higher average daily price as well as higher occupancy rates compared to those without. But you have to be careful about the property you are going to place it in as they have a significant cost. Both the initial and long-term costs are not negligible so weigh all the data well before installing one on your property.
Fireplace
A fireplace increases the average daily rates in all areas and also improves occupancy rates, especially in mountainous and rural areas. Although it is considered as a plus, it is very useful in coastal areas so if your property does not already have a fireplace, adding one is probably not worth the investment.
Washer / dryer
Installing a washer and a dryer can be a great way to earn more per booking. According to the data, washing machines and dryers significantly increase the daily prices in every area. They also significantly increase occupancy rates in all areas and especially on coastal areas.
Just keep in mind that a laundry will significantly increase your property bills especially if the tenants stay for long periods of time. You need to be prepared to pay bigger bills as well as any maintenance costs that may be incurred.
Dishwasher
A dishwasher is just as popular and is something that can help an owner upgrade their tourist property. It’s also a great way to enhance your guest experience. After all, no one likes to clean dishes by hand.
Smart TV with Streaming services
Watching your favorite series on a big screen is much better than watching it on your tiny cell phone screen. If combined with a comfortable sofa, a well-designed space and a glass of wine, so much the better. Your guests will love a Smart TV will have at least Netflix. The best part is that almost everyone has their own account and can use it anywhere, so you do not have to pay extra for a subscription.
Accommodation for pets
Allowing pets on your property is a surefire way to generate more revenue. Pet-friendly tourist properties not only have higher daily rates but also higher occupancy rates which translate into more bookings and revenue.
As a host, taking advantage of this trend is very easy and all you have to do is change your property policies. If you really want to reach out to pet owners, you can add bowls for water and food as well as a few other touches.
Barbecue or grill
A very popular activity that tourists do to spend their day is lighting up the barbecue. For this reason, it is not at all surprising that guests are often willing to pay more for a property that has a private barbecue or grill. Also note that a good barbecue can offset the disadvantages of a small kitchen.
Coffee machine
Does anyone remember what life was like before coffee? For many of your guests’ coffee is very important and the opportunity to make their own quality coffee may add a touch of luxury to their vacation, while to others it will provide the opportunity to continue an important routine of their daily lives.
The choice of Coffee machine will depend purely on the tourist market you are targeting, your budget and the space available. There are plenty of options, so whatever it is make sure you add some instructions to your house manual.
Bonus: Unique decoration
A unique decoration is a simple way to make your property stand out from the competition. Visitors see many properties with similar furniture, bedding, lighting and décor. Filling your property with unique decorative elements catches the eye and brings more clicks your way!
Dazzle your prospective guests with a chandelier in the living room, a unique dining table and elegant lighting in the kitchen. Bedrooms with unique furniture are a must and a featured wall in the bedrooms are a welcome addition. Our advice is to hire a professional decorator. It is a cost that will enhance the value of your property for the years to come.
Conclusion
Equipping your property with the right amenities can play an important role in how successful your tourist property will be. Something to always remember: While adding some of the above amenities will greatly improve your income, none of them are free. As an investor, you should make sure to weigh the initial cost and maintenance costs for each of the amenities before installing, especially for larger ones such as the washing machine or hot tub.