Making Money with Your House: Your Home Could Be Someone Else's Dream Vacation!

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Vacation rentals are a big trend right now with companies like AirBNB, HomeAway, and many others offering services for homeowners to list their properties as up for grabs for people who want to get away for a few days. For those who own homes here in Central Florida, this is an especially lucrative business as we approach summer, thanks to our close proximity to some of the best beaches in the country, large-scale attractions like Disney World and LegoLand, and the plentiful sunshine our northern neighbors are looking for at this time of year. However, simply listing your spare bedroom on a rental site isn't going to make the money for you without any prior preparation.  If you want to make maximum profit from your rental space, whether one room or an entire house, there are some key areas you can target with upgrades. Turning your own home into a vacation rental might be easier than you think, and we're here to help! Consider these tips...

 

Focus on your bathroom space.  Few things will make a space feel luxurious like a renovated bathroom.  By re-doing a bathroom to accommodate renters and/or vacationers, you can up the value of your rental space by a significant amount. Aim for plenty of natural light and clean, crisp colors to make the space feel contemporary and fresh.  Have matching linens (towels, washcloths, floor mats, etc.) to make things feel posh, and consider additional options like upscale toiletry items left out for guests, or bathrobes that can be used and then laundered with the other bathroom linens.  Small touches can have a huge impact!  In the circumstance that the bathroom will be shared by residents in the home and renters (as you would have when renting out a single bedroom in your home), the same rules apply, but you can leave the linens and toiletry items in a nice basket or container in the bedroom space for your renters to find when they arrive. 

Keep guests in mind when designing the bedroom(s).  Have plenty of storage for them, and again use clean colors that will open up the space and make things feel bright.  Use natural light when you can, but have plenty of additional light sources like overhead lights (and fans!) and attractive lamps placed strategically.  If possible have both a sleeping and sitting area in the bedroom, especially if you are only renting out that single, small zone.  This will let your guest have some privacy for using their computer, reading, talking on the phone, etc. without sitting in bed the entire time.  Additionally, consider having a paper left out for your renter on the bed with important information (like key channels on the television, the WI-Fi password, etc.) so they don't feel awkward having to hunt down this info at an inopportune time. 

Vacation Goes Beyond the Bedroom. If you are renovating a large area (like an over-garage apartment for example) to rent out for vacationers, you will also need to keep them in mind for kitchen and dining areas, and even for outdoor patios and porches.  If you are on vacation, you want everything to feel like a luxury, not a chore, so kitchens should have as many convenience options as you can afford.  At the very least, opt for good-quality appliances (including a dishwasher!) and try to stock your cabinets with the basics in cooking equipment (like a good set of pots and pans, several place settings for dining, etc.).  This will go a long way in getting good reviews from renters and will help you make more money!  For your outdoor areas, think about the overall experience of being in and around your home.  If you have a good view, maximize it with a sitting area and perhaps a fire pit.  Have a pool?  Add some tropical plants in corners or around the perimeter to offer some shade/privacy, have plenty of outdoor seating nearby, and have pool towels ready to go in an attractive storage solution.  These touches are a huge hit with guests! 

If you are considering using your property as a vacation rental and are ready to make some upgrades, Williams Construction Company should be your first call. We are Polk County's number one trusted construction and contracting company, and we can tackle projects of all types and sizes. From custom building a home from the ground up, to turning your old storage room into a rental space that makes you some cash, we're ready for it!