How to Transition Your Short Term Rental into a Long Term Let
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How to Turn Your Short-term Rental Into a Long-term Let With Design
There are many reasons why you may want to switch from short-term rentals to long-term lets, however, even more landlords are considering this option due to the current economic climate.
With restrictions on travel in place around the world, it’s important to consider other ways of generating income on your property whilst it’s out of use.
Fortunately, it’s fairly easy to transform your short-term rental into a property that long-term renters will love. To help, we’ve spoken to Dorothy Edgar on behalf of Brickhouse Cottages to help you with your transition.
Reassess Your Amenities
Tenants who are staying in your property for a few days will have different needs to those staying in your property for months or even years. This means that you’ll need to re-assess your amenities so that your property will attract long-term renters.
For example, couples and individuals visiting your home for rental are unlikely to need a dishwasher or washing machine. Whereas, these are essential appliances for individuals, couples, and families looking to stay in your property for a long time.
If there isn’t enough space in your property, you may want to consider converting rooms into extra bedrooms, laundry rooms, offices and more, depending on the types of tenants you want to attract.
Make Sure Your Property is Safe and Clean
There are several rules and regulations you must abide by to make sure your property is suitable for short-term rental, and the same is true for long-term rentals. Essentially, this will help your home to look more attractive to potential renters and reassure them that they’ll have a stress-free stay in your property.
Some of the tasks you should carry out before advertising your property includes:
- Updating outdated appliances
- Replacing heating and A/C filters
- Fixing anything that’s broken
Opt for Simple Decor
With short-term rentals, you have more freedom with your interior design as this is often a feature that holiday-makers look for. However, long-term renters tend to gravitate towards simple and plain interiors because it means that there is more room for customization.
If you’re looking to redecorate, we recommend opting for neutral paint colors such as cream, grey, beige and off-white. This will help you to refresh your interior, without putting potential tenants off with bold colors. It’s also important to choose wall paint that will last a long time and is easy to clean and maintain on a long-term basis.
The same rules apply for furniture and appliances; avoid loud prints, colors, and textures to make your property appeal to a wider audience.
Don’t Overdo It!
When preparing your property for long-term renters, it’s important to remember that simple is best. This is because most tenants will bring their own furniture, decorations, and appliances with them when they move into your property.
On the other hand, short-term rentals are all about shiny fixtures, so you tend to dress up your space more than normal to attract customers.
This means that you don’t need expensive designer fixtures in your property. Instead, opt for affordable but reliable alternatives that will stand the test of time.
Equal Housing Opportunity Rental providers will not refuse to rent a rental unit to a person because the person will provide the rental payment, in whole or in part, through a voucher for rental housing assistance provided by the District or federal government.