There is increased demand for vacation rental homes due to COVID. Many people see renting a home as safer than renting a hotel room, given the limited exposure to other guests. The features of your rental home will determine not only how much you can charge but also how often your property may be rented. Here are a few vacation rental home upgrades that increase rental income.
Convert the Garage to a Game Room
One of the easiest things to upgrade your vacation rental property is to convert the garage to a game room. The effort is low but the return is high. Most garages would need minor cleaning or prepping. With year-round seasonal temperatures in Florida, a garage isn’t often needed anyway. By converting the space, you increase the usable square footage of your property.
The possibilities of what to put in a game room are endless. Ping pong tables, air hockey, foosball, dart boards, and so on. Adding this feature to your vacation rental property also provides an alternative if bad weather limits outdoor activities. For families with children, it also keeps kids busy and parents happy.
Add a Theatre Room
A theatre room is another great vacation rental home upgrade that tenants will pay extra for. It’s useful for those rainy, washed out days or for some much needed down time between long days at the amusement park. Large screen tv’s have come down significantly in pricing. A 75” tv is under $1,000. Add a sound bar and a few reclining chairs and you’ve got a fully functional movie theatre. And with today’s streaming options, you don’t have to stock up on piles of DVD’s anymore. At the small cost of a streaming service, you can give your clients access to thousands of movie titles. Add a gaming console and your theatre can double as a video gaming room as well.
Create an Open Living Area
One of the benefits of renting a vacation home rather than a hotel room is the option to cook a few meals. We always say that food brings people together and the kitchen is the gathering place. Removing a wall between the kitchen and other living space can make your property more desirable to renters.
An open living area attracts families. It promotes the idea of sharing and having a good time with others over a meal. It also creates an illusion of a larger space. This ultimately makes your property more desirable and attractive to vacation renters.
Install a Pool
A screened in pool is probably the biggest attraction for renters in warm weather areas like Florida. In fact, it’s basically a must-have these days. If you don’t have a pool, adding one will instantly increase your rental prospects. If you have a dated pool, consider an upgrade such as an attached jacuzzi or surrounding screen.
How Vacation Rental Home Upgrades Increase Rental Income
As vacationers search for potential rental properties, they tend to tick certain boxes in their search. The above vacation rental home upgrades will help you match more of those popular requirements. Pools and game rooms are a necessity these days, while theatre rooms and open living areas are nice to have as well. If you’d like to upgrade your rental property to increase rental income, contact us to discuss options. Our team understands the Florida market and can help you select upgrades with the greatest return on investment.