If you’re looking to start your own vacation rental property renovation, you’re in luck. In this blog post, we will give you seven tips to help make your renovation a success. Keep in mind that renovating a rental property is different than renovating your own home – you’ll need to focus on creating a space that is visually appealing to potential guests while being durable and cost-effective. Without further ado, let’s get started!

Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!

Why Do a Vacation Rental Property Renovation?

The main goal of a rental property renovation is to make your vacation home more attractive and profitable. This can include improving the overall aesthetic appeal and making the rental space more functional for guests. Additionally, renovations can help you save on maintenance costs and boost rental income by creating a better rental experience for your guests and securing your 5-star reviews.

Rental Property Renovation Ideas

There are many benefits to giving your rental property an update. A rental property renovation can help you attract more guests, increase rental income, and create a high-end rental experience for guests.

Renovate the kitchen

A guest kitchen should be inviting, efficient, and durable. Choose low-maintenance finishes that are easy to clean and update. New appliances can also help make the rental more appealing to guests.

Unfortunately, renovating your guest kitchen can put a dent in your wallet. However, when it’s all said and done, you’ll be able to charge higher nightly rates for your top-of-the-line kitchen.

Replace outdated lighting fixtures

Outdated light fixtures can be a major turn-off to potential guests. To ensure your rental property stands out and looks modern and fresh, consider replacing those aging fixtures with something more up-to-date.

Plus, it is a great opportunity to update the intensity of your short-term rental’s light and easily change the ambiance of the whole rental.

Redo the floors

Flooring can be a great way to update your rental property instantly. However, to up the ante, consider installing hardwood floors or luxury vinyl tile (LVT). While LVT is not as durable as wood, it’s easier and cheaper to install; plus, it comes in numerous colors and patterns that can completely transform a rental.

Remodel the bathroom

When it comes to rental properties, bathrooms can make or break a guest’s stay. Be sure to upgrade and update your rental property’s bathrooms with modern finishes and fixtures. Some of these may include a pedestal sink, new tile floors, and a glass shower enclosure.

Not only will this help increase rental rates, but it will also help distinguish your rental from the competition.

Update the furniture

Furniture can be a great way to add style and personality when renovating rental properties. Choose pieces that are comfortable and modern but also durable enough to withstand the wear and tear of renters.

Paint the walls

A rental property renovation isn’t complete without a fresh coat of paint. Choose colors that reflect your rental’s style and set the tone for each room. You can also use wallpaper or other wall treatments to give your rental an extra touch of class.

Since you’re trying to appeal to a large array of guests, choose neutral colors that will work for any style and look attractive in your listing photos.

Build an outdoor space

Adding an outdoor space to your rental property is a great way to increase rental rates and attract more guests. Consider installing a patio, decking, or even just a few chairs and tables.

This will give your rental that extra something to make it stand out from the competition and allow it to show up in more search results.

Invest in smart home features

In today’s rental market, many guests look for rental homes with high-tech amenities like voice-controlled lighting and locks.

Adding these tech features to rental properties can provide guests with an added layer of convenience and security, as well as draw more people to book

Add storage solutions

Finally, storage solutions are key for rental properties. Not only do they help keep the rental tidy, but guests like to have a place to store their belongings during their stay. Consider adding items such as additional closet space and shelving to make your rental more attractive and user-friendly.

Budget-Friendly Tips for Rental Property Renovation

A rental property renovation can quickly become pricey. To help keep costs reasonable, follow these seven tips:

Plan ahead

The sooner you start planning, the more time you’ll have to think through each renovation and save up money. The last thing you want to do is be forced into a situation where you have to take the only offer on the table – no matter the cost.

Shop around

Get multiple quotes and compare prices before committing to a contractor or supplier – this will help ensure you get the best price possible.

Opt for energy-efficient appliances

Energy-efficient appliances not only save you money in the long run, but they also help attract the increasing number of guests looking for eco-friendly accommodations.

Choose multi-functional pieces

Keep rental property renovations simple by investing in multi-functional furniture and fixtures. This will help make rental cleaning easier for you and your guests and give the rental a more stylish look.

Increase the efficiency of your space, not necessarily the size

Rather than expanding the rental’s size, focus on making the rental more efficient. This could include things like adding shelves in cramped spaces or utilizing wall space with hanging storage solutions.

DIY when you can

Save money on labor costs by taking on some of the smaller renovation tasks yourself, such as painting and installing new fixtures. Just make sure you’re up for the task and have all the necessary tools.

Final Thoughts

Rental property renovations can be a great way to increase rental rates and attract more guests. From painting walls, updating furniture, building outdoor spaces, and investing in smart home features – there are plenty of ways to make your rental stand out from the competition.

Plan ahead, shop around for the best prices, opt for energy-efficient appliances, and choose multi-functional pieces to ensure that renovations stay within budget. These rental property renovation tips will help make your rental more attractive and profitable. Now get out there and start building!

Host Tools provides an automated, unified calendar for short-term rental hosts, allowing you to seamlessly list on all major channels. Start your free trial today!