6 Expert Tips That Will Transform Your Gold Coast Holiday Rental Property 

Did you know that holiday rental owners can generate an income of up to 30% more than their buy-to-rent counterparts? Or that they get an annual return of 8% while buy-to-let investors get a yield of about 6%? We bet you’re proud of your investment choice, but you can only realise these figures if your holiday rental property passes the bar. 

Here are 6 tips to attract more customers, retain existing customers, and surpass profitability scales:

1). Neighborhood and Local Amenities

As a Gold Coast holiday rental property owner, you may want to consider the surrounding neighbourhood of the property you wish to purchase or develop. This is because the neighbouring area has a direct impact on the quality of tenants that will be attracted to your property and the rental income received. 

Neighbourhoods that have shopping malls, good schools, daycare facilities, and even recreational areas such as beaches and parks maximise your pool of potential tenants. The rental prices in such areas are also higher than in other areas with no local amenities.

2). The Local Job Market

While conducting your research, areas with a growing job market will attract more tenants. That’s because you may get long-term clients that are looking to invest in such an area. As they check out their properties and businesses, they’re more likely to take some time to unwind. 

Such an area will also provide competent staff. It’s also worth checking for businesses and companies that are setting up shop or exiting in the vicinity as this may have a direct influence on rental prices.

3). Invest in Your Kitchen

You would think that individuals and families that book holiday rental homes on Gold Coast are always eating out and enjoying the local cuisine. However, there is a surprising number of tenants that prefer preparing their meals because this helps them drive down their expenses and channel them towards other activities. 

Ideally, property owners who remove the hassle of tenants purchasing even the most basic of items guarantee themselves higher rental demand.  Therefore, it helps if the kitchen in your holiday rental property is fully stocked and equipped to facilitate easy and convenient meal preparation. 

Transform Your Gold Coast Holiday Rental Property 

4). Reasonable Prices

So your holiday rental property comes up first on listing sites and enjoys exemplary ratings and reviews. However, you have noticed that these metrics do not translate to consistent bookings and occupancy rates. What could be the reason behind this? 

As a property owner, you may want to review your rental prices to be in line with prevailing market rates. At the end of the day, many tenants will end up deciding on a property solely based on price. Therefore, ensure that your potential client does not skip out on you because you are convinced that your property is worth a higher rate.

5). Spruce Up the House

Now and then, the amenities and fittings in your holiday rental property will begin to break down or wear out completely. Sure, you can call your trusted plumber to fix a leaking pipe, but have you considered improving the aesthetic of the entire property? 

Subtle improvements to the property can lead to increased demand from potential tenants. Here are some of the things you can do to spruce up the property:

  • Repaint the walls using different shades in each room
  • Introduce mood lighting to spaces such as sitting room and bedroom
  • Apply fun and cartoon-themed wallpaper to the kids’ bedrooms
  • Hang wall art and paintings in different areas in the house
  • Include a library with a variety of books, magazines, and local publications
  • Add board games that will engage the occupants of the house

6). Keep Everything Clean

Hygiene in a holiday rental home should come as a priority at all times. All tenants who book your space should be guaranteed a clean and hygienic property. 

As a holiday rental property owner, engage the services of a cleaning company or property management company if you are not able to do this work yourself. Simply put, clean and hygienic rental homes enjoy a higher demand compared to homes that are not regularly cleaned.

Hire BnB Booking for Gold Coast Property Management

If you’re looking to revamp your holiday rental property within the Gold Coast area, BnB Booking is your best choice in providing quality and professional property management services. 

Please call us at BNB Booking today on 1300 421 029 or leave an enquiry and we will get back to you as soon as possible.

 

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