You’ve made the decision: you want to start making extra money by listing your property on the short-term let market. But what can you do to make your listing stand out from the crowd and increase your occupancy rate? After all, a high occupancy rate means higher returns for you. Let’s take a look at the benefits.
Updating your apartment can help create an inviting environment, giving guests confidence that they will have a comfortable stay. Making changes to the layout of a room (such as replacing furniture), updating older rooms such as kitchens and bathrooms (through services such as wrapping or flooring), or redecorating through adding extra touches, such as rugs or artwork, can make a big difference to the overall feel of your property. Not only will this help your listing stand-out to potential guests, it will drive business through 5* reviews and word-of-mouth. Guests like to feel the property is a “home away from home”, or even better!
By making upgrades in certain areas or undertaking necessary repairs, you will not only attract more guests and better reviews, you could potentially increase your profits by charging higher rates. Guests will pay more to stay somewhere which appeals to them. Even minor updates such as fixing broken windows or a fresh lick of paint can add AED to your wallet. Positive reviews will increase traffic, leading to increased popularity/demand and higher average nightly rates.
The most obvious benefit of redecorating your home is increasing its value. Upgrading features of your apartment like the kitchen or bathroom can instantly improve its marketability, allowing for potential buyers to envision themselves living in your space and willing to pay top dollar for it. Additionally, minor maintenance such as painting walls or refreshing carpets helps protect against wear-and-tear damage over time and ensure that any deterioration in quality is kept at bay. There is long-term gain to consistent maintenance of your property.
At AirDXB, our upgraded properties make up to 20% higher returns than those which aren’t (even in the same building). Speak with our interiors consultants who can work to any budget and can help you determine what is necessary, and what is not. Contact Leanne for an initial discussion with no obligations.