Everything You Need to Know to Rent Out a Room
With websites like Airbnb popping up left and right, it’s easier than ever to rent out a bedroom and earn a bit of profit. However, it isn’t simply about listing a room and collecting some money. Here is all you need to know to rent out a space successfully.
It’s a competitive market, and you want to make sure your room is viable. There are four million listings on Airbnb alone, yet only two million clients per night. That’s just one website; there are plenty more available. This means you need to price your room appropriately. Look at a few websites and check out listings in your area. Is there an average price? What amenities do more expensive rooms offer? Are the affordable options lacking in something? By knowing your price point, you have a better chance to get offers and successfully rent your room.
Take Great Pictures
If your pictures are blurry or dark, you may deter potential renters. First, when photographing the room itself, make sure the image is centered; angles can distort what the room looks like. Use natural light when possible. Move furniture if you need more space to capture the whole room. When showing the exterior of your home, a tripod gives a steady hand while ensuring you get the shot you want. Take your photos during the day, or early evening, to make the best use of daylight. If you have trees, use them to frame the home — framing can balance a photo. The better your pictures look, the more likely you are to attract customers.
Keep It Clean
Having a clean rental space is essential. Impress your guests and garner good reviews by being prepared for any potential messes. A bagless vacuum, for example, can make clean-up a breeze. You don’t need to buy refills, but best of all, emptying the container isn’t messy. Of course, always check reviews before you make a purchase. Magic erasers are another excellent investment, as they remove all manner of scuffs and stains with little effort. Most importantly, to ensure you catch everything between guests, create a checklist. This way, you won’t overlook any aspect of cleaning and reorganizing your rental. If you have a tight turnaround, having equipment that makes cleaning quick will be a lifesaver.
To maximize your property’s appeal, you’ll need some upgrades to attract clients. You will want enhancements that offer good ROI, so don’t just buy the latest gadget. You’ll need a streaming service, be it Roku, Chrome, or an Amazon TV stick. A good LED television will also serve you well, and reliable internet is a must. Beyond technology, you want to think about lavishness. Purchase luxurious linens, thick bath towels, and quality toiletries. If your kitchen will be available, keep it well stocked and have decent cookware. Every little thing will add up.
Target Your Area
You may want to target the highest end guest, but that might not make the most financial sense. Instead, think of your neighborhood. Who lives here? What are the largest local attractions? Is tourism seasonal where you live? Depending on these factors, determine whether you should target business or leisure clients, and how many beds to offer. The more you hone in on the right target for your area, the greater your chance of success.
Renting a room can be an exciting adventure. If you plan, scope out the competition, and know your target, you can put the odds in your favor. Make your spare room focused on luxury and comfort, and you may even garner repeat customers. It’s time to start earning some extra cash.
Image courtesy of Pixabay