If you own a home or property in the Vail Valley, you could be in a great position to take advantage of the benefits of short term executive rentals. If you’re familiar with short term rentals but unfamiliar with executive rentals, let us explain. There are many ways short term executive rentals can boost your income. Here are just four of them.
Boost Your Income with Short Term Executive Rentals
#1: Service the Niche Market
The executives that need short term rentals are a very specific group. By servicing this niche market, you can make significantly more than if you’re using your property as a traditional rental.
Most businesses expect to pay for a hotel room for an extended stay for executives on a long term project or employees staying in one location for workshops, conferences and training. Instead of paying premium hotel rates, they can save money by housing them in short term executive rentals. These units are as nice as hotels but at a lower nightly rate. Where they save money, you make money.
#2: Cater to High-End Clients
Have an upscale home in one of the areas surrounding Vail? You have the opportunity to cater to high-end clients and reap the rewards. Many executives in town for business are more comfortable in the relative peace and quiet of a private home than they are in the hustle and bustle of a hotel.
These high-end clients expect luxury accommodations with upscale furnishings, electronics and services. As long as you can provide this atmosphere, they are willing to pay a premium price. There is more attention to detail. Also, there is more servicing and home maintenance involved. However, it can easily be worth the time to invest in executive rentals to make the profits that go along with them.
#3: Include a Vehicle in the Deal
In addition to the luxury accommodations required for most executive rental clients, including a vehicle in the rental package can sweeten the deal for you and your bank account. Avoiding long term car rental is a significant benefit for most busy executives. It’s one less thing on their to-do list. Having a luxury vehicle available to them for their use during their stay can boost your income potential.
#4: Add-On Services and Upgrades
The more services you offer, the more money you can make. A basic home with basic amenities will net you basic clients. The more you can cater to the discerning clientele, the better. Upscale services equate to high-end customers who expect to pay more to get more. A concierge service, regular housekeeping, a stocked refrigerator, television service with premium packages, top of the line appliances and electronics, meal delivery service, and extra security are all things your executive clients want and need — and for that, they are willing to pay top dollar. They believe you get what you pay for, and you can provide that.
Tired of dealing with the average vacation renters over and over? It could be time to look ahead to short term executive rentals that can boost your income. Get all the information you seek and the short term executive rentals property management you need. Contact the pros at Fireside Properties today by calling 970-476-4446 or by visit us online.