Owning a luxury investment property is an excellent way to add an additional income stream, as well as a destination to make family memories. To make your property stand out to potential renters, its all about creating an experience. Whether your property is a lakeside escape or a mountain hideaway, the details do matter. Read on to find out how to enhance your luxury investment property to keep your income stream flowing.
Create a Theme, But Skip the Kitsch
A subtly integrated theme will make your property memorable to those who are looking to book a rental property, as well as for repeat renters. So, whether you are renting your Nantucket home with ocean views, an Aspen ski retreat or a Palm Springs escape, make sure the decor fits the areas landscape. Remember, there is a fine line between staying with a theme and crossing the line into kitschy. This means avoiding any overtly nautical touches, such as anchors and ropes, or overdoing the taxidermy and animal prints.
Have a Unique Touch
Give your guests a reason to return by incorporating subtle, luxurious touches they may not have at home. Whether you are catering to gourmet cooks with an assortment of epicurean oils and spices, spa aficionados with lavish bath products or literary zealots with a rich variety of coffee table books, create memorable moments for your guests.
Create an Aspirational Lifestyle
Give your property its own persona by treating it as a lifestyle brand. Create a social media presence, highlighting content that reflects the lifestyle of the home and the surrounding area. Feature the propertys unique features, local destinations, activities
and aspirational imagery.
Take a Less is More Approach
Being able to take a deep breath and relax is usually at the top of many peoples vacation to-do lists. Help facilitate this state of mind by embracing simplicity in the design. Creating one focal point in each room is a good rule-of-thumb to help the room feel intentional and not overdesigned. This simple, clean approach will provide guests with mental clarity and space for their belongings.
Invest in Smart Technology
Incorporating smart home technology is an asset for both you and your guests. For example, installing a keyless entry lock and deadbolt will easily allow your guests, cleaning staff and handyman to access the property without exchanging keys. Home automation, such as automated lights and window shades, will allow your guests to easily adjust the homes settings to their comfort levels without searching for light switches. Voice activation, such as using Amazon Echo or Google Home systems, will provide your guests with additional vacation ease.
Invest in the Correct Areas
Since a rental home is a high-traffic property, durability is vital to keep the home and decor in good condition. The upholstery, especially in high traffic areas like the living areas and kitchen, should be performance fabric to help lessen the impact of spills and wear and tear. Additionally, the pieces that get the highest usage, such as the sofa and ottoman, should be considered investment pieces. Accessories, such as rugs, artwork or lamps, can be at a lower price point in the event of often inevitable damage.
Taking the time to invest in the personal touches will make your luxury property feel unique and unforgettable to all who visit.
Published with permission from RISMedia.
