6 Home Improvements That Make Vacation Rentals Stand Out in Durango
For those that live or own property in Colorado, Durango short-term rental properties may be one of the best ways to build a portfolio and start earning an income. The outdoor adventures here make Durango real estate some of the most desirable in the country. People enjoy the beautiful mountains, the fantastic trails, and the top-notch restaurants, and the luxe shopping the city offers. Yet, many want more than a hotel to stay in while visiting. Those with real estate may be able to make the most out of their property through a few simple home improvement projects to increase booking frequency. Keep reading to learn about the best home improvements for increasing short-term rental income.
Durango Vacation Renters Love Hot Tubs
After a long day on the trails or skiing, it's nice to come home and relax in a hot tub. Tourists and other vacationers love a hot tub because it is relaxing and inviting. Hot tubs may bring in more guests and help increase rental rates as a result. Larger hot tubs meant for four or more people can be an attractive option for groups staying in the property.
Hot tubs offer a good return on investment, depending on if the property owner chooses the suitable model (sometimes those special features can add extra value to the property). Hot tub prices range from $500 to $5000 or more depending on size and features. It's a good idea to have larger and built-in models installed by a professional to ensure they don't damage the property once placed. Wondering how much you can earn from a Durango short-term rental? Regardless of the answer, you can increase the amount with a hot tub.
Durango Vacation Renters Love Smart Appliances
It's essential for anyone renting space to make that house or apartment feel as comfortable and familiar as possible. Good, working appliances are essential since many like preparing meals and washing clothing while visiting. To book home rental rates, consider turning your home into a smart home. This added type of technology helps to make the home a bit more luxurious, potentially allowing for the property to earn a higher rental amount or increase rental frequency.
Some smart appliances are more desirable than others. First, consider security and safety features, like automatic lighting and home monitoring. Smart locks can help as well. Choose appliances like washers and dryers that can be managed using a smartphone. Ovens that can preheat with the touch of a button can also be a desirable investment. Also, think about smart lighting, smart thermostats, and virtual voice assistance like Alexa or Google Home to help make the property more attractive. Homeowners can install some of these features independently but upgrade over time to keep costs in line with ROI.
Durango Vacation Renters Love Elevated Curb Appeal
Curb appeal is essential for renters. When they step away from home, they want to feel like they are living in luxury. Curb appeal welcomes them right away, creates good first impressions, and helps market vacation rentals online.
Consider curb appeal options for the property based on need. A brightly colored door with an inviting front porch is an excellent first step. Be sure all landscaping is easy to manage and orderly – no one wants to think about cleaning up during their trip. Choosing low-maintenance options is often best. The home's exterior should be clean, a beautiful color, and attractive overall. It is also vital to add lighting to improve security to the property. These often project property owners can do themselves, if they like, or hire a professional to do it quickly. The ROI is hard to estimate, but a property that isn't maintained isn't likely to see many rentals.
Durango Vacation Renters Love Updated Furnishings
The interior of the rental space should match the expectations of the renter. That may include modern, comfortable seating areas, ample technology access, and comfortable furnishings from the kitchen to the bedroom. Updating the furnishings in a rental can range widely in cost. Some property owners in Durango may spend a few thousand dollars if their property is already in decent shape. It may cost upwards of $50,000 or more to furnish a property from scratch in this area with luxurious amenities.
Higher-quality interiors lead to higher rental rates. Don't outpace the competition. Take a closer look at what is expected in properties to ensure any guests receive equal to that experience at last. Because the ROI takes time on this update, it's best to choose pieces that maintain trendy long-term rather than updating the property frequently. Hiring a decorate maybe for those who want competitive pricing on this process.
Durango Vacation Renters Love Alfresco Lounges
The outdoors matters to many people who are vacationing. Any property can benefit from having an outdoor space that's inviting and welcoming. That may include an inground pool, ample seating areas for lounging and eating, and an outdoor kitchen.
To create an alfresco lounge, be sure to choose comfortable pieces. That may include cushioned chairs and lounges. It may also include sun-blocking umbrellas to help provide some shade. Outdoor areas may be built up over time. For example, start with a deck or patio with comfortable dining and a seating area. Over time, it is possible to add to this with a pool, outdoor kitchen, or other features.
Durango Vacation Renters Love Extra Perks
Make the property unique whenever possible. To do that, consider a few extras that may inspire individuals to rent. That includes surround sound and speakers so they can put the music on. Be sure to offer high-speed internet, of course. Consider other features, too, such as a movie or media room, game consoles, golf and tennis packages, and saunas. Be sure there's a modern coffee maker, updated appliances, and comfortable mattresses on the beds.
Vacation Renters Love Durango
Most importantly, those coming to Durango are looking for relaxation and fun. The more of these amenities and features you can offer them, the more they will feel at ease and then tell their friends about the positive experience they've had on the property. To make the most out of your short-term rental, be sure to stay on top of key takeaways from IRS publication 527, online marketing strategies, and the home improvements discussed in this article.