Six Tips to Open Your First Rental Property

Six Tips to Open Your First Rental Property

If you’ve clicked on this blog, chances are that you’re about to open your very first rental property. If so, congratulations are in order. You’re in for the ride of a lifetime. You’ve climbed the first step of the property ladder, and the only way is up.

If you want to run a successful rental property, you’ll need to have the right knowledge, tools, and skills. In this blog, we will explore all the best tips and tricks you will need to open your first rental property. Keep reading to find out what they are!


Splurge on the Pictures

Understandably, there is a lot of capital that goes into starting your first rental property. However, if there is one aspect of this process that you cannot afford to skimp out on, it’s the photographs. You only get one chance at a first impression and professional pictures are the best way to grab the attention of guests.

Add Personal Touches

Small yet personal touches will definitely go a long way with your guests. Don’t hesitate to leave a few chocolates by the bedside table or even a bottle of champagne if they are celebrating something special.

Six Tips to Open Your First Rental Property

Provide a Local Guidebook

An absolute must-have is a local guidebook filled with recommendations and information. You can include telephone numbers for local taxi companies, restaurants that offer takeout, and even potential day trips to nearby attractions or towns.

Install a Lock Box

When it comes to creating convenience for your customers, installing a lock box is of the essence. This device can be attached to the front door handle or even the wall of the property. This is especially useful if your guests need to check in during very early or late hours of the day.

Decorate with Intent

When it comes to decorating your rental property, you want to do so with intent. Create a cohesive atmosphere that will attract guests. If you’re working with a limited budget, why not incorporate a mix of vintage and new furniture? For example, you could purchase new coffee tables but opt for vintage lamps.

Cut Down Response Time

We understand that you may have a lot of things going on at once, but you simply cannot afford to mismanage your communication. Guests expect to hear from the rental owner in a reasonable amount of time. In order to reduce the level of necessary communication, you could send an automatic message once they book the property with a list of frequently asked questions and answers.

One of the best ways to ensure you’re on the right track is to envision yourself as a guest. Would you be satisfied with the level of service you’re offering? Does the quality match the price tag? How could you elevate the experience without putting a dent in your wallet? At the end of the day, your customer’s reviews will determine the success of your rental property so you must ensure they have the best experience possible.

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About the Author: Vishal