Ten secrets to maximize rental revenue

by | Mar 26, 2023

I met so many new condo owners this past month, most from the northern U.S,. and Canada, Guadalajara and even a wonderful couple from Scotland. Almost all these new property owners have decided to lease their units when they are not occupying them. This approach is an effective means of funding a second home since rental income often covers a significant portion of operating expenses. I believe it is critical to furnish and decorate a rental property differently from furnishing a space intended solely for personal and family use. To me, rental property furniture should yield the best return on investment.  Here are some of my secret tips to help do so.

Tip One: Ensuring that your property is visually appealing is crucial so that any photographs you use in your advertisements attract potential renters. Choosing the right decorative style is vital. Popular décor styles for rental properties in the Bay of Banderas area include coastal, modern Mexican and contemporary. 

Tip Two: Renters typically prefer clean, uncluttered spaces. It’s wise to use neutral tones for painted walls and large furniture pieces. Incorporate pops of color through a feature wall or decorative items such as pillows and throws. Properties with neutral color schemes tend to book faster than those with an overabundance of color.

Tip Three: Avoid overcrowding the space with furniture and decor. Focus on acquiring essential pieces. For example, if your bedroom closets have shelves, refrain from purchasing a dresser. Excessive furniture not only increases initial costs but also drives up repair expenses if damage occurs. Minimize small décor items and opt for pieces that are less likely to break if accidentally bumped or knocked over.

Tip Four: Invest in high-quality mattresses. Most renters prefer medium-firm, coil mattresses with pillow tops. A comfortable mattress ensures well rested guests, while an uncomfortable one usually leads to negative online reviews.

Tip Five: Consider purchasing waterproof mattress pads. Modern mattress pads are soft and made from fabric that keeps your mattress stain-free and fresh. This gives you a longer lifespan for your mattress.

Tip Six: Buy at least two sets of linens, towels, and mattress pads. This reduces cleaning time between guest turnovers. If you can check out a guest on the same day you check in another, you are maximizing rental revenue. Ensuring a prompt room turnover is crucial, as no guest wants to arrive to find their room unprepared which can also lead to a negative online post.

Tip Seven: For linens, white is the best choice. Hotels typically use white because it is elegant, fade-resistant, and can be bleached for cleanliness. Washing white linens and towels together can also expedite the cleaning process between guests.

Tip Eight: Protect wood furniture, such as tables and nightstands, with glass tops. A layer of 8mm glass can shield your furniture from scratches and condensation rings. Glass tops are cost-effective and help maintain the furniture’s appearance. Keeping your furniture looking good for longer means you get a better return on your furniture investment. 

Tip Nine: Choose a sofa or sectional with a performance fabric cover to keep upholstered items looking new. Performance fabrics repel liquids and stains, making them ideal for rental properties as they are the best protection against suntan oils, creams, and sweat. A sofa or sectional is a significant investment, so it’s essential to ensure it remains in good condition and looks appealing for as long as possible.

Tip Ten: Invest in professional photography for your rental property. While smartphone photos can save money, professionally captured images are more likely to result in higher occupancy rates and faster bookings.

By following these suggestions, you can create an inviting and comfortable space for both you and your guests while maximizing your return on investment.

SOLutions Mexico offers furniture packages starting at $3499 USD. We customize to your budget, items needed and decor style. Over 200 suppliers and free decor service. We ship right to your condo, deliver, unwrap, assemble and even remove all packing material. Contact us for more info on the easiest way to furnish your condo.

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