Add A Hot Tub To Your Vacation Rental Property

Vacation rental owners are often seeking ways to increase their bookings and the amount they are asking per booking. Many of these VR owners will ask me what vacation rental renovations result in the highest ROI, how can I increase the demand for my vacation rental and so on. My answers differ from market to market, because in some of these locations these renovations matter more than others, and it also all depends on the type of clientele you are trying to attract. In regards to the latter, many VR owners will try to make additions to their home that will attract their desired tenant, which may be a family, couple, young adults and so on. This is an important thing to keep in mind being that certain amenities will attract certain guests. If your goal is to attract a family then a pool is a great addition, for couples, a balcony or renovated master bathroom might be your best bet. One thing we noticed however is that their is one particular addition that seems to attract almost all renters and increase your booking regardless of location…a hot tub.

Hot tubs seem to be a hit for all types of renters, whether they be a couple, family, or group of friends. They allow guests an oppertunity to socialize and relax and also give them that vacation feeling. Being that most people do not have a hot tub at home, lounging in a hot tub while staying at your VR will create the ultimate vacation experience. Not to mention that VR’s with a hot tub tend to book 20% more than those without. If you are having trouble renting your property during off seasons or wanting to ask for more during peak season then a hot tub is a great way to go. In fact most VR owners make their money back on the hot tub in just a couple years because of increased bookings.

Rick at Patio Splash Hot Tubs & Spas in Northern Colorado and Wyoming has supplied many of the Colorado vacation rental properties with hot tubs and says that is a growing trend among VR owners in that region.

Hot tubs have become a staple for Vacation Rental owners in Colorado -Rick Smith

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In fact he has noticed that most Vacation Rental owners will switch out their hot tub every three years to keep up with the newest models and ensure they maintain the demand for their property in more premium destinations like Vail, where renters are more particular. However he mentioned that many VR owners don’t bother to upgrade their hot tubs and have no trouble regularly renting out their properties.

One thing we thought was interesting was that he said many of these property owners noticed an increase in positive reviews after installing a hot tub. It seems as though hot tubs improved the quality of the stay so much that they felt more inclined to leave a positive review.

In regions like Colorado during the winter a hot tub can be a deal breaker for many guests who will not even bother to consider a property without one. Although that is not always the case, it does put you in a better position to compete for higher paying guests who put a hot tub as a requirement.

What about summer rental properties

Hot tubs are not just for ski destination vacation rentals. Hot tubs are still in demand for guests staying in more tropical locations or staying during off seasons. Hot tubs don’t just warm you up, they are also therapeutic and relaxing. All though there are instances where adding a pool to your VR will offer a better ROI. Depending on space, budget, and location, mot often a hot tub may be the best investment you ever make in your vacation rental.

7 Tips For Choosing A Great Property Manager For Your Vacation Rental

how-to-hire-property-managersYou’ve decided to turn you property into a vacation rental and make little income. We you potentially didn’t realize was the time it takes to manage your property and everything else you have going on in life. This is especially true if your are not located near your property, but out of state or even a day’s drive away.

You try and figure out how to make everything work effectively and to protect you, your property and your guests, as well as get good reviews and manage all that’s going on. That’s when you think…property manager to the rescue!

But how do you know what to look for, and how do you choose the right person or management group to oversee your property?

The intent of this article is to provide you with information and tips on what to look for when hiring someone to manage your property.

  1. How busy are they? How many properties do they manage? While you do not want someone that is to busy to really take care of your needs, you also do not want someone that has no experience or is managing zero properties. While this doesn’t necessarily mean that they won’t be good, you are taking a risk. You also need to ask what time they will dedicate to your property each week. The minimum time will be around 3-4 hours.
  2. Cost. How much will they charge you? While there are other important things to seek out first, pricing is very important and can help you to gauge all that they will do. They may be killer at making listings appear attractive, or have a great secret on keeping properties full year round. This may reflect in their rates and pricing. So digging into this early on can lead you to many of the questions you should ask on their services. Expect to pay anywhere from 10-25% of the nightly rate.
  3. Communication. Necessity! They must be good communicators with both you and your guests. Their level of communication is what will spark good or bad experiences and reviews for all of those involved. Your guest are staying at your property and may need assistance during off hours. How will this be handled?
  4. Cleaning. What are they doing to ensure property cleanliness? Do they have a checklist to show you? Are they hiring independent contractors to clean or do they have a staff? Get the details on the cleaning, as this is part of your guests experience.
  5.  What is their USP (unique selling point)? Will they offer area recommendations for your guests? Will they assist you in communicating ways to . improve your listing and make the experience better for everyone involved….you, guests, and their team? DO they help get you great reviews? DO they do a “little extra” and what is that? Dig in on what sets them apart from others.
  6. Processes. Get down and dirty on what there processes are. If they are great communicators, they will already provide you with this information. Understanding the entire process from being found to renting, to communicating with guests, to policies, understanding their process is essential! If they do not have one, then we suggest moving on to find a better fit. Processes are the meat of business.
  7. Referrals. Do they have references or referrals that they can share? This helps solidify the information you’ve requested and that they’ve provided.

Bringing on someone to manage your vacation rental, whether it a AirBnB, VRBO, or a Craigslist Rental, can be a great way to free up your time, as well as make sure that things run smoothly and your property stays booked. Just make sure to do your homework and ask a few important questions.

To happy renting and great property managers!!