Owning multiple properties can give you the perfect chance to make a little bit of extra income and they are especially useful if you are seeking a long-term investment.
Whether you want to spend holidays in your additional property and rent to holidaymakers when you’re not there, or perhaps you’re hoping to have a long-term renter in your property to ensure that it’s fully occupied, you’ll no doubt be looking for ways to stand out from the crowd and offer up a home, or home from home, that attracts the right kind of renter for your space.
Whatever its purpose, ensuring that you rent out your property with all items needed for residents to turn up and start enjoying the space straight away is key, even many long-term renters will appreciate the property being fully furnished and ready to move into.
But what does fully furnished mean? For a long-term rental this generally involves installing all white goods – washing machine, cooker and fridge freezer – as well as basic furniture items including beds, wardrobes, a sofa and dining table and chairs. If your property a holiday let, then expect to include towels, bedding, crockery, pots and pans, and cleaning products in addition to decorative pieces like artwork, vases, plants and more.
Luxury properties, whether being renting in the short or long term, will need to have a few extra considerations, and below we’ll take a closer look at how you can create a standout second home.
Good quality furniture
If your second home is likely to have different groups of people coming and going on their holidays, then investing in sturdy, good quality furniture will go a long way to ensure it stands the test of time. Certain materials can withstand wear and tear well, opt for those that can be easily cleaned.
Security and safety
Whether you purchase flame-retardant doormats and fire extinguishers, install fire doors and go overboard with safety features or go the whole hog with a full security system in your property, ensuring the safety of your guests and also your home and its contents should not be underestimated.
Top-notch soft furnishings
Curtains, cushions, rugs, throws, chair coverings and more – be sure to deck your luxury rental property out with sumptuous fabrics that invite a comfortable atmosphere. Be careful not to overly match everything, you’re looking to create a space that feels inviting and homely, just make sure the quality level is high so that items are longer lasting.
Style – but not too much
Hitting the perfect level of stylishness can be tricky, after all, you’re creating a luxury rental that you’ll want to be able to charge good money for and similarly your guests will be looking for opulence within, but you don’t want to put them off with décor that they don’t like. Try to strike a good balance with your décor by focusing on neutral tones within your furniture, adding colour and interest with removable items like artwork and soft furnishings.
An outside space and parking
Anyone visiting or living in your additional property will find it very useful to have parking and an outdoor space where they can relax in summertime. It may not always be possible, especially if your extra abode happens to be in a city or town centre location, but where there is an opportunity to offer a parking space and/or a garden or balcony, be sure to make it habitable and you’ll have a better chance of attracting renters.
Property management company
Though having additional residences can make for great investments, it doesn’t mean that you will want to spend a lot of time managing them, especially if they are being used as holiday rentals. This is where the services of a property management company come into play. From looking after the cleaning to ensuring any issues are dealt with swiftly, they will do the hard work, so you don’t have to.
Give it a test drive
When you’ve kitted out your rental to the highest of standards, be sure to spend some time there and give it a test drive, so you can iron out any kinks and ensure that anyone coming into the property will have everything they need for a luxurious stay.