If you own a high-end home in Vail, you might want to use it as a luxury property rental for additional income. While some homeowners in the Valley keep their properties for personal use, others use their luxury property rentals as investments. If your goal for your home is to be a successful luxury rental, there are some industry secrets you should know.
Secret #1: Treat Luxury Property Rentals Like a Business
If you’re happy not making income from your Vail home, that’s fantastic. Having it available for personal use as well as for your friends is a wonderful way to utilize the space. However, if you’ve invested in the property with the idea of making money, you need to treat it like the business it is. You worked hard to be able to make this purchase, and you want it to work for you. Don’t treat it like a hobby.
Secret #2: Marketing of Luxury Property Rentals Is Critical
Making sure you are marketing your luxury home to the right demographic is one of the best ways to ensure you are attracting high-quality tenants. The marketing and advertising of your luxury home will make a difference when it comes to renting it out. You can’t just throw some photos on Craigslist and hope for the best. You want clients who can afford a luxury home rental while they’re on their vacation in the Vail Valley and who will take care of your home and property the way you would expect from high-end customers.
Secret #3: Take Care of Your Guests
Taking care of your guests is priority number one. They expect to get their money’s worth. Customer satisfaction can come from something as simple as extra towels in each bathroom to amenities such as high-speed internet access, large screen TVs, and a stocked bar and refrigerator. Whatever your guests expect, you should do your best to provide it. This will help your property maintain the value you want and ensure a good reputation and return customers.
Secret #4: Cater to the Location of Luxury Property Rentals
When people come to the Colorado Mountains, they want to live the experience. Local items and a mountain feel in your rental property can make the difference between guests choosing someone else’s home or choosing yours. If you can create a space that helps them feel immersed in what Vail has to offer, you can capture that particular niche you’re looking for and fill a need in the luxury rental market.
Of all the secrets to successful luxury property rentals, the most important might be the property management company you choose. You need one that presents your home to the right client base. The company should ensure the best cleaning and maintenance, as well as provide concierge service to your guests.
These special touches will make managing your luxury property rentals easy for you, and create the successful investment you desire. The real secret to successful luxury property rentals is getting our pros at Fireside Properties on your team. Contact us right now.