How to Turn an Unused Space into a Rental Property
The short-term rental market is becoming increasingly lucrative as a result of the rise in holiday accommodation rental apps. You have the potential to boost your income significantly with a spare room, apartment or even farm building. There are a few basic requirements and amenities that you will need to install before you can list your property as a rental and it is important to recognize the importance of marketing your unused space and how simple phrases will sell your property to a more diverse audience. Here are a few of the best ways to transform an empty space into a business venture.
Get Connected
An increasing number of people are beginning to work remotely or on a freelance basis, which means that a large number of people looking to rent a room or a property in the short term that have technological requirements. When professionals are filtering properties and spaces online, they will often select that they need a workspace and a high-speed internet connection. Therefore, if you offer both of these, or adapt your space to include them, then you will be appealing to a significantly larger audience.
In fact, whether individuals are traveling for work or leisure, they will appreciate digital facilities and many people will consider Wi-Fi and ample plug sockets to be a basic requirement for daily life. This is an investment that will be appreciated by your potential customers and a good place to start.
Update the Interior
When it comes to selling your space through photographs online, stunning contemporary design can transform an exceptionally small space into a desirable location. Pick a modern style, select trendy paint colors, and update your furniture accordingly. It is important that you create a superior ambiance and make sure that bedding, towels and curtains are all new and refreshed in between each guest.
Atmosphere
A comfortable temperature is also a basic requirement for a rental property and it may be worth making some more fundamental changes to your space. One cost-effective choice is to invest in new windows to keep in heat, reduce energy bills and avoid waste. All you need to do is search online for “window installation near me” and find a local professional to help you replace your windows and transform your space. Remember that if you would not want to spend a night in the space that you are advertising then your guest will probably not want to either.
Inject Some Character
If you want to transform a disused space into a rental it is imperative that you invest in order to get the best results possible from your venture. If you buy the cheapest furniture and accessories for your rental property, it will exude a low-budget and potentially tacky environment and you will not receive good visitor views. You should aim to exceed guest expectations by buying materials and items that are quirky, non-standard and characterful – or by making them yourself.
Hire a Professional Photographer
Once you have created a charming space out of an unused property, it is time to start marketing. Hiring a professional photographer will be worth the investment because your property will stand out amongst competitors. The first image used to advertise your space is extremely important for potential guests scrolling through all the properties in your area – it is what will grab their attention initially. It is also recommended to be as honest as possible and not to mislead potential guests about the size or location of the space.
Sell the Lifestyle
With the importance of honesty in mind, it is now time to think creatively about how to sell the space with certain aspirations or lifestyle goals in mind. If you have a chic attic space available, you could purchase a bookshelf and paint a few pieces of furniture – then market the space as an “artist’s loft” online. Alternatively, if you live in a rural area use language such as “escape” and “retreat” to highlight the positives of your rural location. You need to add character to your space in reality and online to achieve a profit. If you know that you have a stunning space, it could be worth hiring a freelance writer to help you write the description of your property and market it in the most efficient way possible.
The possibilities of how to update your spare room or property are endless when you think creatively about how to make the most from it. You may need to invest some time and money into making it the best it possibly can be, but this will be worth it when you start getting positive feedback and returning guests.
