At Oak Street Group we not only help clients find their dream homes, we also help people take the next step in their real estate adventures: investment properties! That’s why we were thrilled when Erin Reynolds of DIYmama.net shared her blog on how to turn your property into a money maker!! Check it out and let us know what you think.
Whether you call it Smashville or Cashville, Music City or NashVegas, you’ve probably already realized that Nashville is the hotspot of the South. Our fair city boasts many unique amenities from the Nissan Stadium to the General Jackson Showboat. Plus, were the only place in the world with a carbon copy of the Parthenon, the Country Music Hall of Fame, and Hattie B’s world-famous Nashville hot chicken. For these reasons and many more, Nashville is the perfect city to turn your home into an income-producing property, especially if you’re ready to move out of the city to the suburbs of Franklin or Hendersonville.
What Does It Take to Open a Rental?
Turning your home into a vacation rental takes work. It takes money, and it takes time. But don’t let this scare you; if you work smart, you can have your home prepped and ready by July 4th weekend (which also happens to coincide with the 2019 CONCACAF Gold Cup, which, according to the Nashville Post, will be held at Nissan Stadium.).
Before you start decorating, spend some time looking at what’s currently available. TurnKey is an excellent resource where you cannot only browse current listings but post your rental and sign up for site’s property management services as well.
Once you have an idea of how others have set their property up, you can evaluate what they are lacking that would make your property stand out. If there are similar properties near your own, something as simple as updated appliances and complimentary toiletries might make your rental a more appealing choice. More than that, the number one thing that vacationers want is a clean place to serve as their home base as they explore the sights and sounds of Music City.
It is not simply enough to clean your rental like you would clean your own home. You have to go above and beyond that. Xpert Home Services lists a few dozen areas that should be cleaned in any vacation home, including things you may not consider, such as the air-conditioning registers and under the appliances. Pay close attention to any dirt and grime left behind by your previous renters, change the bedding — even on beds that do not appear slept in — and make sure your dishes and cookware are all in place. If there are stains on the furniture, clean that, too, before vacuuming, sweeping, and mopping the floors.
In addition to being clean, you also want your vacation rental to appeal to as many people as possible. To do this, maximize your open space. Clear the property of any unnecessary furniture, leaving only what they will need during their trip. This will include comfortable beds, a place to store clothing, a kitchen or dining room table, and a cozy sofa and chairs in the living room. Outdoor spaces for entertaining are also welcome.
As far as amenities, wireless internet is a must. And, as MaidThis.com suggests, additional technology, such as a video game system or big-screen TV, will also be a draw. Less expensive but perhaps even more effective are the finishing touches in your property that make it feel like home. Your visitors should have access to a coffee maker, kitchen utensils, and anything they may have forgotten at home, such as a hairdryer or first aid kit.
Once you have everything ready to go, take great photos and intrigue future vacationers by clearly and accurately listing everything available at your property. Remember, you only have one chance to make a flawless first impression. Your rental income depends on it.
Erin Reynolds of diymama.net | firstname.lastname@example.org