One of the biggest trends in private real estate investment is combining it with the side hustle of Airbnb renting. It lets people with an extra room or even an extra home, rent it out whenever they like to people visiting the area or simply taking a staycation.
Why Renovate If There Are No Problems?
While most folks will think “if it ain’t broke, don’t fix it”, there are some good reasons that renovating your property can make your bookings increase along with your profits.
1. Trends Change
You can’t always stay on top of the trends, but upgrading to more current decor can go a long way with your customers.
2. Increase Appeal
Renovations can help you attract new customers from wider pools of potential renters. People that may skip over a listing with plain walls might book right away with a fresher-looking accent wall, for example.
3. Holiday Prep
Doing some quick upgrades before people start traveling for the holiday season is an easy way to make your listing appeal to many more customers.
4. Ordinary Wear & Tear
Let’s face it, running an Airbnb means your property is likely experiencing some robust use, and that use creates wear and tear. Without periodic maintenance and upgrades, eventually, you’ll have a laundry list of things that need fixing.
The 7 Best Renovations You Can Do To Your Airbnb
People see the term “renovations” and think they’re in for a massive project with an even bigger bill, but that doesn’t have to be the case. Here are 8 ways you can improve your property with a small project whenever you have time and funds.
1. Flooring Upgrades
One of the more expensive upgrades, changing your flooring is also one of the most effective. Not only does getting rid of that worn carpet refresh the entire space, but it adds to the visual appeal. Simple laminate flooring can also reduce visible wear and tear, as well as cleaning needs.
2. Trendier Decor
Keeping your property aligned with current trends is one of the best ways to ensure your property’s pictures draw in new renters. Adding trendy items like day time beds can mean greatly increased appeal to your audience.
3. A Quick Coat Of Paint
Repainting walls can make a space feel brand new, and it gives you a chance to change things up visually. Consider an accent wall featuring a bold color or even some chic wallpaper to give your space a facelift.
4. Easy Kitchen Upgrades
The kitchen is a great place to leverage upgrades and renovations. Don’t think “new fridge” or “high-end range”, instead, consider throwing a coat of paint over the cabinets, or simply rearranging to open up the room a bit.
5. Add A Coffee Nook
Travelers need fuel, and there’s nothing like a good cup of coffee. Dedicate a corner in the kitchen for a coffee nook, and print out a simple instruction sheet on how to get the best cup out of your current equipment. Don’t forget mugs, spoons, and sweeteners.
6. Upgrade Lighting
Not only can old lighting be energy efficient, but it may not work with your new layout. Change it up, and consider getting LED lighting that can be repositioned or aimed at different areas of the room.
7. Storage Anywhere & Everywhere
There’s nothing better than storage space, particularly if you tend to have bookings that are several days or a week long. People need places to put their belongings, and a storage bench, ottoman, or even things like a shoe rack can make a big difference.
Renovating Your Airbnb Doesn’t Have To Be A Big Project
Even though you may have a long list of things you’d like to do to upgrade your Airbnb property, take it one step at a time whenever you don’t have any bookings set up. An upgrade here and there between clients can help you break your renovation down into easy-to-handle portions, saving you stress and money.