7 Ways to Increase Your Vacation Rental Property's Appeal

Vacation rental properties had a rough 2020, to say the least. Fortunately, things really turned around during the course of 2021. But just how much better are they doing? Vacation rental properties wrapped up 2021 with an all-time high average annual revenue of $56,000, according to short-term rental data analyzer AirDNA. It’s really been just a phenomenal recovery.

And if you own a vacation rental or are considering investing in one, you’ll of course want to maximize that investment to its full potential. Here are a few things you can do to make your vacation rental more appealing to potential guests.

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Guests booking a luxury property generally take it as a given that all the amenities will be top of the line. But a more affordable property boasting luxurious furniture, bedding, and decor can command attention and truly stand out among other properties where all these features are merely adequate. Create a luxurious environment, even if your property is more midrange, and potential guests are sure to take notice.

When you think of vacation home extras, you might think of things like beach chairs and toys for kids at a beach house, or games and puzzles for rainy days. Those are certainly nice touches, but to really amp up your property’s appeal, you may want to think bigger. Is your property in a pleasant neighborhood? Bicycles could be a nice touch. If your home sits beside a lake or on a farm, a boat or recreational vehicles could really set your property apart from the pack.

The right extras for the right property can transform your rental from a home into an experience. Just be sure to consult with a real estate attorney about any potential liability issues, insurance, and what to include in your contract.

Following the onset of the pandemic, an increasing number of people were allowed to work remotely. Some companies have even made the shift to remote permanent. And of those companies that anticipate getting more workers back into the office, the vast majority still plan to allow for more flexibility than they did in the past. This shift is creating a rise in travel as a lifestyle. More people are booking longer stays in their desired spots and planning to get some work done while they’re there.

You can attract these digital nomads by having a dedicated office space with a comfy office chair and desk setup and a strong internet connection. Even better would be if it can be a dedicated area with a door that workers can close when traveling with family.

ALSO READ: Is Remote Working Here to Stay?

One of the many changes the pandemic has ushered in is a change in our relationship with the outdoors. For many, getting more fresh air by dining outdoors or meeting friends at parks instead of in one another’s homes began as an attempt at avoiding germs. But it's morphed into a whole new appreciation for nature, too.

If your property allows for it, picturesque outdoor areas with seating and maybe a table to eat or have drinks at can let your guests enjoy the fresh air, weather permitting, while they prepare for their day or have an evening chat about the day’s adventures. Consider getting creative with a lovely garden, a firepit, or some festive solar lights.

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According to AirDNA, the top 10 fastest-growing property types of 2021 were all unique properties, including farms, tree houses, yurts, and tiny homes. In response to this demand for the unusual, Airbnb has even added the ability to search for unique properties to its search function.

Is there something unique about your property? Maybe it has spectacular architecture or a fascinating history. You might even consider going with a theme of some sort, like a popular show or movie or even a time period, and decorating the place accordingly. And if you’re considering purchasing a new vacation rental property in the new year, you may want to keep an eye out for properties that don’t fit the norm.

Unfortunately, it’s impossible to anticipate everything. That’s why it’s so important to keep an eye on your reviews. They can point out things guests were less than thrilled with but didn’t see as a big enough issue to contact you about. Whether something’s not working like it should or is making a weird noise that kept a guest awake, check these things out promptly and see what you can do to resolve the situation as soon as possible.

You can learn about more than maintenance issues this way, too. Maybe guests think the carpet is dirty, but it’s just the color. Or perhaps they think a statue you found charming is kinda creepy. It’s unrealistic to think your rental will be everyone’s cup of tea, but if you can see where they’re coming from even if you don’t agree, or if more than one guest has the same feedback, you may want to consider making a change.

ALSO READ: The Rise of Hosting on Airbnb

If guests know before arriving that they can get a discount for repeat stays, they may approach their trip with an eye toward making your place their regular vacation choice. Savvy potential guests may even suspect that a host so focused on repeat business is likely going above and beyond to ensure guests have such a lovely stay that they will absolutely want to come back.

And what could make a vacation rental stay more desirable than having it talked up by your friends or family members who have had a lovely time there and may have even snapped some terrific vacation shots on the property? You can’t buy that kind of marketing.

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Some of the items on this list could make your property leap out at guests as they search for the perfect vacation property. Others will make more of an impression in person. Either way, happy guests can mean glowing reviews and repeat business. These efforts can really pay off. Every little thing you do to make a stay at your property more enjoyable is an investment in your business and an opportunity to either minimize vacancies, raise your rates, or both.

Nell McPherson has no position in any of the stocks mentioned. The Motley Fool owns and recommends Airbnb, Inc. The Motley Fool has a disclosure policy.