September 3rd 2023

One of the best parts about owning a property at the Shore is the ability to rent it out to generate some income and offset expenses.  Owners enjoy the flexibility of being able to rent for simply a week (or as little as one night, depending on your property's restrictions, if any) and then use it the next, for example.  Compared to a year-round rental, or even month-to-month, owners have far more control with this type of rental market.  Another option is "winter rentals", where owners will rent for the off-season (generally November-May) and then use the property themselves during the summer months.

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So, how can you revamp your rental to attract clients willing to pay a premium? 

Tailor the Design to Your Target Clientele

When transforming your rental into a luxury listing, the first step is to envision your ideal tenant. Who are they, and what decor would make them feel like they're getting their money's worth?  Selecting an aesthetic that caters to your target clients' preferences is crucial in transforming a rental into a luxury rental. Consider the demographics and tastes of your intended audience. For instance, if your target clients are young professionals, they may prefer a modern and sleek design with ample workspace over the laid-back boho-chic decor typically associated with vacation homes.  Older folks may enjoy a more classic beach look.  Identifying your target clientele upfront will guide your aesthetic choices.

Draw Inspiration from the Location

Another key to successful rental decoration is considering the property's surroundings. The home's location can inspire a unique, tenant-friendly design.  For example, for properties here at the Shore, the can't-fail aesthetic is "coastal".   Incorporate nautical colors and beach-themed art to enhance the renters' experience by connecting the interior design to the environment. Researching the local culture and design aesthetics can also help ensure your rental aligns with your renters' expectations. If you're uncertain, explore upscale bars and restaurants in the area, as they often showcase trendy decor schemes that can inspire your design.

Invest in Timeless Furniture

While it may be tempting to embrace every new design trend, it's wise for a landlord seeking to provide a top-notch experience to steer clear of ultra-trendy pieces.  Investing in timeless pieces that withstand changing trends is wise. This ensures that your design maintains long-term appeal and minimizes the need for frequent updates. This principle is especially relevant when it comes to significant items like couches, beds, and tables. Opt for items that will continue to look stylish even after several seasons, reducing the need for frequent replacements.  That's one bonus of using a coastal theme: the ocean doesn't fade with the seasons, so it's appropriate any time of year!

Pay Attention to the Details

To keep your rental looking fresh year after year, focus on the small, distinctive touches in your decor and furnishings. Attention to detail is paramount, as high-quality finishes and elegant lighting choices can elevate the overall ambiance.  In other words, opt for real wood furnishings instead of plasterboard and consider investing in quality bathroom and kitchen fixtures. Plush seating and luxurious amenities will ensure your guests feel pampered during their stay.

Embrace Smart Technology

Consider making your rental more user-friendly by incorporating smart features. "Landlords should incorporate smart home tech for added convenience," suggests Ervin. This may include features such as smart thermostats or keyless entry systems. Additionally, consider setting up alarm and security systems with smart technology to manage emergencies more effectively.

Enhance Curb Appeal

The best rentals always boast an appealing outdoor space, whether it's a garden, patio, or a simple balcony. Investing in landscaping, outdoor leisure spaces, and overall aesthetics will create that initial "wow" factor for your rental. "Don't underestimate the power of curb appeal," advises home improvement expert Austin Fain. Create an inviting outdoor space with comfortable seating arrangements on balconies, patios, or gardens, complete with lush greenery and ambient lighting.