You’ve decided that now is the time to act on your decision to upgrade your home to include modifications that will make it an attractive vacation rental property. You’ll need to perform research to determine whether there is a viable market in your area and how much profit you may be able to yield. Some of the increasingly popular modifications that hotels and private rentals alike are making are installing smart thermostats, creating pet-friendly environments, and using additional safety measures, such as Wi-Fi locks.
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The smart thermostat is an attractive feature that you and your clients will enjoy using. As a future property manager, you need to know that the smart thermostat is estimated to reduce the monthly electric bill by an average of 8-15 percent annually. Part of the reason is that you can adjust the heating and cooling temperatures using an app on your cell phone. For example, if the renter forgets to adjust the thermostat before leaving for the day, you can remotely adjust the system.
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Each year the number of individuals and families traveling with their pets steadily increases. The American Pet Products Association conducted a national pet owners survey and determined that nearly 37 percent of pet owners travel with their pets each year. Your vacation rental property will be more appealing when prospective clients notice that you provide pet beds, water bowls, and pet food and toys. However, you must decide whether pet accommodations and amenities will be complimentary or if there will be a surcharge. Pet owners are willing to pay reasonable additional fees so their pets will enjoy vacationing just as much as they do.
Wi-Fi locks may be used in conjunction with combination locks as an additional measure to security cameras and other safety devices. Some Wi-Fi locks allow access via code, smartphone, or Amazon Echo. Having them installed will make your vacation rental property more attractive to prospective clients, as safety and security are two of the primary concerns individuals and families have when traveling to an area they have limited knowledge about. You may take advantage of the remote access feature that enables you to confirm whether the property has been secured following clients’ departure when their stay is over.
You now have knowledge about some of the latest trends in vacation rental property management that will give you ideas on some of the modifications that will increase appeal and generate the largest profit. Smart thermostats, pet-friendly environments, and Wi-Fi locks are features that individuals and families will be eager to take advantage of while they are on vacation. Many of them consider these features to be among top priorities when searching for lodging. The smart thermostat and Wi-Fi locks are added bonuses for you as well, as you will be able to monitor your property remotely whether it’s occupied or not.