How to Make Your North Shore Vacation Rental Property Stand Out in a Saturated Market
With the rise of Airbnb and VRBO and the boom of people purchasing second homes during COVID, the vacation rental market in Boston’s North Shore has become extremely competitive. This means if your property is not top-rated, with great photos and interior design, your property will not be booked at the same rate as a property, checking off all the right boxes. Simple yet impactful upgrades can make all the difference. Here’s a detailed look at how refinishing flooring, adding a new backsplash, updating bedding and linens, painting accent walls, installing new appliances, and enhancing lighting can boost your property’s attractiveness and why these upgrades are worthwhile investments. Below is an outline of what we believe are the top things to consider when upgrading your rental property to be more competitive (also factoring in bang for your buck).
Refinish Flooring
Impact on Rentability: Refinishing your flooring or replacing your old carpet can dramatically change the look and feel of your rental. Shiny, polished floors create a clean, luxurious atmosphere, making the space more inviting to guests.
Ease of Upgrade: This upgrade can often be completed in a few days with minimal disruption. Refinishing can remove years of wear and tear and restore the floor's original luster, whether hardwood, tile, carpet, or laminate. This is a great use of money when trying to make a big difference in the feel of your property on a budget.
Why It Matters: Floors are one of the first things guests notice. A beautifully refinished floor conveys a sense of cleanliness and attention to detail, which are critical for positive reviews and repeat bookings.
New Backsplash
Impact on Rentability: A new backsplash can give your kitchen a modern and stylish update without needing a full remodel. It adds color, texture, and personality to the space, making the kitchen look good in photos.
Ease of Upgrade: Installing a backsplash is a relatively straightforward DIY project. With a variety of peel-and-stick options available, it can be done in a weekend. We also have crews who can do this work for you, ask!
Why It Matters: The kitchen is often the heart of a home. A fresh, eye-catching backsplash can make the kitchen more appealing in photos and more enjoyable for guests to use, enhancing their overall experience. It also stands out in photos.
New Bedding and Linens
Impact on Rentability: High-quality bedding and linens can significantly enhance a guest's comfort and satisfaction. Luxurious, soft sheets and plush towels can make your property feel like a high-end hotel. We like to buy linens from California Design Den because they are a great value and we get a lot of good reviews from our guests on them.
Ease of Upgrade: New bedding and linens is a quick and cost-effective way to improve your rental. Investing in high-thread-count sheets and fluffy towels can transform the bedrooms and bathrooms.
Why It Matters: Guests often base their reviews on how well they slept and the overall comfort of their stay. Bedding and linens can lead to great reviews which is a driver higher occupancy rates.
Painted Accent Walls
Impact on Rentability: Adding painted accent walls in rooms that need a bit more to look good can make rooms feel more vibrant and personalized. It’s an easy way to refresh a space without a complete overhaul.
Ease of Upgrade: This upgrade can be done in a day or two. A bold color or trendy wallpaper can create a focal point and make the property more photogenic.
Why It Matters: Accent walls can make your property stand out in listings. They add character and warmth, making spaces more memorable and attractive to potential renters.
New Appliances
Impact on Rentability: Modern, energy-efficient appliances not only improve the functionality of your rental but also appeal to environmentally conscious guests. New appliances can make a kitchen or laundry area more efficient and visually appealing. This is a bit more of a pricy upgrade but it can really transform a kitchen and also reduce repair costs on older appliances.
Ease of Upgrade: While this may require a bit more investment, the long-term benefits and potential for increased rental income make it worthwhile. Installation is typically quick, especially when replacing outdated models.
Why It Matters: Guests appreciate the convenience of up-to-date appliances. Offering a well-equipped kitchen or laundry facilities can be a deciding factor for bookings, especially for longer stays.
New Lighting
Impact on Rentability: Good lighting enhances the ambiance of a property. It can make rooms appear larger, cleaner, and more welcoming. Consider a mix of ambient, task, and accent lighting to create a balanced atmosphere. We have a few lighting companies we are a huge fan of, Pepe and Carols, for affordable and high-quality lighting.
Ease of Upgrade: Updating lighting fixtures can be simple and affordable. LED bulbs, modern fixtures, and smart lighting options can all be installed with basic tools.
Why It Matters: lighting is essential for both functionality and aesthetics. Bright, well-lit spaces photograph better for listings and provide a comfortable environment for guests.
The Importance of Keeping Your Rental Property Competitive
In highly competitive markets like Gloucester, Manchester By The Sea, and Rockpor Massachusets, continually investing in your property is essential to keep it attractive to potential guests. Here’s why:
First Impressions: High-quality photos are critical for attracting bookings. These upgrades can make your property look more appealing in listings.
Guest Satisfaction: Comfortable and well-maintained properties lead to positive reviews, crucial for attracting future guests.
Occupancy Rates: Upgraded properties are more likely to be booked consistently, ensuring a steady income stream.
Market Differentiation: Small upgrades can set your property apart from others in the area, making it the preferred choice for travelers.
These relatively simple and cost-effective upgrades can lead to increased bookings and higher guest satisfaction, ensuring your property stands out in the vibrant vacation rental markets of Gloucester, Manchester, and Rockport, MA. If you would like to chat with someone from our team about how we can help advise on things that will help your property look better and be more competitive as a vacation rental property, please do not hesitate to reach out.
