5 Ways To Maximize Profits On Your Luxury Home Rentals

Luxury rental properties well-known for its beauties and natural diversity. Tourists and locals can’t get enough of luxury retreats with white sand beaches, amazing water, and even hikes around a luxury home. However, the main attraction is in the entertainment the rental location can offer. Golf, the natural attractions, amazing spa and hotels, wonderful party locations, and the best of all, a luxurious place to live during the summer.

Considering all these, you can see why locations like Marco Island are considered a perfect location by experienced realtors. A house rental can bring both the owner and the realtor a nice profit, but there are ways to top even that. Below are five tested ways to increase the price of a luxury rental without losing customers.

#1: Hire a Professional Decorator

You are trying to sell luxury, but so are the other homeowners of this island, so if you want to get more profit, you have to invest in a unique look and feel. For instance, many homes by the sea or ocean tend to have a sea creature theme with lots of blues and seashells in their decorations. This is nice, but if you want to attract richer customers, you need to take it up a notch. People love light colors in combination with dark ones so don’t be afraid to add a dark wall here and there.

Also, it’s important to create the sensation of super-comfort. You can do this by using bright nuances such as white or solar yellow (for the walls) and dark brown or natural wood (for the floors and doors). Natural materials look amazing, so don’t be afraid of wood and other fibers!

Finally, areas like the kitchen, the bathroom, and the terrace are very important because this is where the tenants will invite their friends or spend the time with the family. So, they should be extremely comfy and cozy, with lots of space to move around and sitting areas.

#2: Focus on Amenities that Sell

Nowadays, every decent rental comes with a flat-screen TV and wireless internet use, but a luxury home must offer more. Yes, it’s true you have the mesmerizing view on your side, but the house must offer more than that.

For instance, a pool in the front yard will definitely make people get more money out of their pockets, but so will a personal gym or access to a local high-end club or golf course. If the house doesn’t have too much outdoor space, use everything to your advantage – even a small patch of sand can be transformed into a beautiful sitting area with the proper tools and decorations!

#3: Sell the View and the Sensation

The standard campaign for Marco Island Luxury Homes starts with posting pictures on various social media accounts and on the realtor’s website. However, pictures without a story won’t get you out of the crowd, since all the other houses have the same view and location.

The secret is to make the possible customers feel like they are already living in the house and admiring the view at sunset or sunrise. For this, you should accompany each picture with a short (but compelling) description of the house and location. Talk about the activities offered by the area, the wonderful entertainment options, relaxation possibilities, and more!

To take the campaign even further, you can take some aerial footage of the area and the house using a drone. It’s important to hire a specialist video maker for this as they will know the best angles for a fantastic video shoot.

#4: Focus On Sustained Revenue

What do you do with your rental home out of season? Do you keep it close or you take the smart approach and go with the market flow? If you keep it close, you will lose money with every day/weekend that your house stays empty, but if you lower the prices out of season, you will have a constant revenue stream.  While it’s true you won’t get the same prices as you would during high season, in off season it’s about keeping the money coming.

One option is to divide the house into several rooms or rental areas, so you will have more than one client enjoying the view and activities at once. Of course, you need to have a good process for screening tenants if you have multiple in the same location. If this is not possible, you can restrict access in certain areas for a lower price. Now, besides the continuous stream of income, you’re also building your rental’s reputation by keeping the reviews going steadily. This will keep the house in the top best choices for when the season starts again.

#5: Work for Customer Loyalty

A good realtor knows whose customers’ loyalty to gain, but an amazing one will continuously build the relationship with all good existent clients. A happy customer will almost always choose the houses you represent because they trust your taste in rentals and know you’ll treat them right.

However, in order to gain someone’s loyalty, you have to be prepared to throw in some incentives (such as special passes to the most notorious locations in the area or a special discount if they rent a second time from you). Also, it’s important to keep all your existent customers up to date with your offer so don’t forget to ask them to join in your newsletter.

Most customers prefer to rent the same house, at about the same time of the year (if they liked it), so make sure to get their feedback on the experience. You can give them a call after they completed their stay, ask if they had a good time and if they want to rent again next year.

Loyalty is based mostly on open communication and a wonderful experience, so if you can offer these, you will be on their list of favorites.

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