Generating passive income in renting out spaces is very effortless. The online lodging platform Airbnb has exceeded its own expectations in terms of profit. That’s according to their business report for the first quarter of 2021. No wonder why many people have become business owners and chose to manage lodging spaces.
With its marketable model, renting out spaces can be an enticing business to explore. Having a space for this business venture is a good way to start this pursuit. But as a host, there are many things you have to fix first before opening your space for renting.
Clients have so many things they consider before they actually get a room. If you want your space to be the best choice for renters, you may want to see first how to attract lodgers. Here are some tips you can apply to transform your unit into a handsome room for guests.
Make it cozy
Most vacationers want to relax. Though they may have to explore a city in the morning, they will need a nice room to spend the night. It’ll be helpful if you can make your room look cozy. Plain paint colors and a minimalist interior design can bring a serene feeling to guests. Dimmed lighting is suitable for the bedroom and the bathroom. Create a relaxing ambiance in the room where the bathtub is placed. Make the pool area look like a place where you can host a decent corporate dinner party. And of course, highlight the view with big windows where the bed is facing. It’s going to look like the best rental space for people who want to rest their minds.
Mix business with pleasure
Business travelers always look for a business-class facility. From airlines to airport lounges, everything should make them feel comfortable, given how hectic their schedules can be. If your space can accommodate guests who want to mix business with pleasure, you can hit two birds in one stone. Business-friendly rental spaces can attract people who frequently travel for their corporate missions. Your rental space could be perfect if you know what business travelers need.
Put an office table that’s perfect for virtual meetings and late-night working. It’s also good if your rental space is quiet. Business travelers don’t want any distractions while they’re working. Plenty of power outlets is also a must. These preferences are easy to meet. That is if you understand how fast-paced businessmen’s lives are.
“Instagrammable” is bankable
There’s a lot of venues for advertising opportunities online. One of them is the social media platform Instagram. With over a billion users worldwide, it’s one of the most sought-after websites by online marketers. Getting exposure on the site can be converted to a decent amount of profit, especially when the post about you gets viral in a positive light. That’s a mission you need to take on. Get your rental space to be known on the social media platform. If you want guests to post their stay in your rental space on Instagram, exert effort.
Make it grand by creating a dedicated space for Instagram selfies. Get renovation loans if you need your space to cater to this stint. Know what’s trending when it comes to interior designs. Put sets of furniture and any elements you think would be Instagram-worthy. You have to make sure that the rooms are going to look good in the photos. Do this by forming a space that’ll inspire guests to take pictures inside.
Invest in amenities
People always look at the amenities rental spaces could offer. They want to make sure they’re getting their money’s worth. According to Airbnb, these are the amenities the guests want. A pet-friendly space, Wi-Fi, free parking, a pool, and a Jacuzzi. The list goes on, and most of them are reasonable and essential. Have these amenities available in your rental space.
Also, make sure your guests can do things they can normally do in their houses. Give them access to a kitchen and have a streaming service on TV. Always stock up on necessities like toiletries and towels. Clean water for drinking should be included in amenities too. Your guests would never want to choose another rental space. They may have to prefer yours over and over again if you have the right amenities.
Generating profits from rental spaces isn’t rocket science. However, you still need to have the right formula to lure guests into choosing your space. Create the best temporary living spaces for your guests by following these tips.