Are you a vacation rental owner looking for creative and cost-effective ways to increase vacation rental revenue? You’re in luck! From strategic paint colors and quality furniture to special touches, there are plenty of simple yet effective methods that can help increase your profits. In this article, we will explore some tips on how to use these insider secrets of the trade to make your vacation rental stand out from the competition and create an unforgettable experience for guests.
1. Strategically Planned Paint Colors
One way to add unique touches is by strategically planning your paint colors! For instance, adding dark paint colors to areas like underneath a breakfast bar, hallway or the wall behind a bed is one of the top property manager secrets for increasing vacation rental income.
Why is that? Darker accent colors will “pop” on your listing and can be very aesthetically pleasing to the eye. They also hide dirt and damage better than lighter colors. They are easier to clean and maintain over time, saving you money on repairs and upkeep in high-traffic areas where feet often knock against the wall, creating scuff marks that need attention. Make sure you choose high-quality paint in a satin finish which wipes off easily.
2. Install Anything But Carpet: Luxury Vinyl Plank, Hardwood, or Tiled Flooring
Luxury vinyl plank, hardwood, and tiled flooring are excellent choices for vacation rental owners looking to increase rental income, as they provide a stylish and durable option that can even increase the property’s value! These floor types can be easily maintained and cleaned, reducing the need for costly repairs or replacements. Hardwood and tiled floors increase the aesthetic appeal of a home and its functionality by making it easier to clean and upkeep, reducing noise and allergen levels, and providing insulation from cold temperatures. Just think about your cost savings without needing routine carpet cleanings!
As a side note, our favorite right now is luxury vinyl plank, or LVP. It’s easy to maintain, as it resists water damage and scratches better than other materials such as hardwood or tile. Its contemporary colors can modernize any room, and the textured surface makes it slip-resistant – perfect for families with young children! Additionally, the luxury vinyl plank has soundproofing qualities, making it ideal for rentals in noisy neighborhoods or near busy streets. With all these benefits combined, LVP is an attractive option that will help increase your vacation rental revenue without breaking the bank. If you are considering a pet-friendly home, LVP or tile is especially important!
3. Invest in Quality Furniture (especially beds)
Choosing quality furniture for a vacation rental home is extremely important because it will stand the test of time and provide guests with a comfortable experience! Quality furniture doesn’t just look great, but it also performs better and won’t fall apart as quickly as cheap furniture.
Better quality furniture pieces often have solid wood frames designed to last, as well as durable fabrics and cushions capable of holding up to heavy use without sagging, wearing out, or breaking. Additionally, investing in quality furniture can actually help increase rental rates since guests are more likely to pay a premium for superior amenities. Beds are an excellent example – stay away beds with cheap wooden slats supporting the mattress. Remember, small children just love to jump on beds when they are on vacation with their families!
4. Also, Don’t Forget Quality Bedding and Linens
Another way to increase vacation rental income is by having quality bedding in your property! Hotel-quality comforters, throw pillows, and colorful throws can make the bedroom feel luxurious and inviting — even through the photos online before they book. Quality bedding will also last longer, so it won’t need to be replaced as often and will ultimately save you money in the long run. Not to mention, when people have a comfortable place to sleep, so spend a little extra to upgrade your bedding for an increase in revenue.
Additionally, adding special touches like a welcome basket can be a nice bonus that adds value without breaking your budget. This simple gesture shows guests that you care about their comfort and are willing to go the extra mile for them, which could result in repeat visitors or referrals for your rental property!
5. Never Skip Preventative Maintenance
Performing preventative maintenance and deep cleans will help keep your vacation rental in top shape for years to come and increase its market value as well! Doing regular inspections and repairs allows you to identify areas that need attention before they become major problems, saving money on costly repairs down the road.
Additionally, having a well-maintained property will make it more appealing to potential renters, with great reviews, resulting in higher occupancy and higher nightly rates. due to perception of greater value from guests. Furthermore, preventive maintenance ensures that all safety standards are met so guests won’t have any issues with their stay at your rental home – this peace of mind often leads people to come back again and again! Ultimately, preventative maintenance is key to increasing vacation rental income over time.
6. Add Artwork with a Local Flavor on the Walls & Throughout Your Property
Adding local artwork to your vacation rental can be a fantastic way to increase its appeal and make it more exciting for your guests! Not only will the artwork add a unique touch to your property, but it also provides visitors with a glimpse of the local community and helps them feel like they are in their home away from home.
In Orlando, our local flavor means Disney, Universal and all the popular attractions! Theming can be quite elaborate, and it is an absolute must for a high-performing Orlando home. We have rooms with Star Wars themes, floating Aladdin beds, 101 Dalmation spotted walls and the ever-popular Mickey and Minnie characters to delight our guests and their families.
7. Keep Meaningful Personal Items Out of Sight
We highly recommend making sure any meaningful personal items are not out for guest use — whether you have a locked owner’s closet where those items stay or remove them altogether. Accidents can happen, and people don’t always understand the personal connection your items have to you. There’s no reason to take the chance of Aunt Ida’s prized pottery or an expensive vase accidentally getting knocked off the cabinet shelf.
You also want to make sure that your vacation rental looks fresh and inviting, and sometimes having a bunch of personal items can distract from the atmosphere. For example, items left in drawers and closets can be confusing for guests who don’t know if they are there to be used or not. This will lead to frustration and confusion, which is never a good start for any vacation rental experience.
8. Make Sure You’re Offering the “Must-Have” Amenities for Your Market
Ensuring you have the “must-have” amenities available for your guests is a vital component of the strategic planning process to ensure your vacation rental earns as much income as possible! For instance, having a private pool with comfortable outside furniture on the lanai or a dedicated game room in the Orlando market can significantly increase revenue from short-term rentals. By providing guests with something fun and entertaining during their stay, you create an atmosphere that people want to return to year after year. With so many family-friendly attractions nearby, such as Walt Disney World or Universal Studios, having a space where children can have fun while parents relax is sure to make any trip more memorable – which in turn increases guest satisfaction ratings and leads directly into higher occupancy rates over time.
Granted, if your budget doesn’t currently allow for a full or partial renovation of a room at your property, you could consider smaller additions. These include having board games, or providing smart TVs with streaming capabilities. While not as costly, little touches like these are just as essential and can be that bonus that makes a guest book your property over another. If you’re in another market, you may be interested in reading our article about ways to cater to niche markets as well.
Want to Know More Ways to Increase Your Vacation Rental Revenue in Orlando?
By following these simple tips, property owners can increase their vacation rental revenue without breaking the bank! Quality furniture, theming, unique touches, and popular amenities like game rooms all contribute to creating a place where people will want to come back time and again – making it easy for you to increase your rental income over time. If you’re looking for additional ways to improve your vacation rental revenue, you might want to check out our top 10 vacation rental decorating ideas!
Are you curious about what we would recommend adding or changing in your Orlando vacation rental to boost your rental income? We’d love the opportunity to take a look at your property, discuss ideas, and provide you with a free rental revenue projection. Feel free to reach out to Marcelle, our Business Development Specialist! You can contact her by email at alice@myvillakey.com or schedule a time to chat on her calendar.