Thursday, October 4, 2012

Survey: Well Maintained Vacation Rentals Bring 20% More in Rent

A recent survey of property owners revealed that vacation rentals maintained at the highest levels and offering superior appearance and appliances can bring increased rent up to 20%. Also, 45% of property managers and owners focus maintenance efforts on bedrooms, living rooms and dining rooms, as work done in those areas bring the highest returns on investment. Kitchens were second at 27%.

While at first this seems surprising, it makes some sense. People spend a lot of time in living areas, even on vacation. While kitchens are important, people still sleep 8 hours or so in their bedrooms. And after a long day of sightseeing or at the beach, people still want a nice place to relax at the end of all their activity. And keep in mind that the survey asked about ongoing maintenance, not major improvements.

Other results from the survey indicate that quality of service is the most important reason for repeat bookings and referrals (42%), followed by location of the property (25%).

Nearly all property managers and owners (92%) perform maintenance on an as-needed basis throughout the year.

In addition to the survey, Perfect Places also released its Top 10 Maintenance Tips. There are ideas for reducing clutter, key areas to focus your time and money on improvements, exterior maintenance tips, and more. You'll find specific ideas and general guidance for upkeep.