10 Best Investments to Make in Your STR Property

by | Sep 24, 2024 | 0 comments


Newbie and veteran hosts alike know that happy guests are the key to a successful vacation rental business. But, between managing bookings, cleanings, and keeping up with guest communication, it can be hard to know exactly where to invest your time and resources.

The good news is that you don’t need to break the bank to make a big difference. In fact, some of the smartest investments you can make in your short-term rental are surprisingly affordable or even free — and can go a long way toward boosting guest satisfaction and potentially increasing your bookings.1. Create a Welcome Basket

First impressions matter — especially when it comes to a vacation rental. Some of your guests may have to travel far to get to your property, whether it be a long road trip or a plane ride. A welcome basket filled with local treats (think coffee, snacks, or even a bottle of wine) would be a really nice surprise.

You could also really go the extra mile and add a personalized touch with a handwritten welcome note, some brochures on local attractions, and suggestions for what to do in the area. It shows you care and sets the tone for a relaxing stay for your guests.

2. Set Up Your Space

When choosing any new furniture and decor — and where to place it — think about what you would expect if you were a guest at your property. You don’t necessarily need a complete overhaul, but some rearranging, fun pillows, and small decorative items can make a big difference and cost little money.

Think about furniture placement to optimize space and flow. Fluffy throw pillows, cozy blankets, and fresh flowers will instantly add warmth and character to your STR.

3. Don’t Skip on Tech

Most travelers appreciate convenience — and tech-savvy ones maybe even more so. Things like a smart lock system for keyless entry so your guests don’t have to worry about losing keys will instantly elevate your property. You could also add a smart speaker so your visitors can play music.

These little touches will make their stay easier and show that you’re up-to-date with the latest trends and modern amenities. 

4. Level Up Your Linens

There’s nothing worse than stepping out of a hot shower and grabbing a scratchy towel — or one that’s way too small. Little things like high thread count sheets, plush towels, and soft blankets will go a long way and make your guests feel like they’re staying in a luxury hotel.

Offer extra pillows and blankets to cater to different preferences too. Remember: quality linens are an investment in guest comfort and therefore, positive reviews. Don’t be afraid to spend a little more to make a little more.

5.  Go the Extra Mile on Amenities

Think beyond the basics. Beach towels and board games are great for coastal properties, while a yoga mat might be a welcome addition to a mountain cabin. And no one ever said no to an upscale coffee machine or air fryer in the kitchen. 

Consider stocking up on small conveniences like laundry detergent or dishwasher pods to help your guests feel even more at home. These small, yet thoughtful touches show that you’re paying attention to their needs and want to make their stay even more comfortable.

6. Cleanliness Above All

A sparkling clean space is a non-negotiable. Hire a top-notch cleaning company (like us!), purchase high-quality cleaning supplies, and make sure you have basic tools on hand for minor repairs. Create a detailed cleaning checklist for yourself or your cleaning crew to ensure no spot is missed.

Clean floors, fresh towels, and a dust-free space go a long way in creating an inviting STR for your guests.

7. Pay Attention to Your Reviews

This isn’t a physical investment, but it’s important all the same!

Remember that positive reviews are like gold in the short-term rental world. Encourage guests to leave feedback by offering a small incentive, like a discount on their next stay or something similar. 

Most importantly, respond promptly to both positive and negative reviews, and make sure to keep things professional. Thank happy guests for their kind words and address concerns raised in negative reviews, then make any necessary changes.

This shows you value guest feedback and are committed to continually improving your property.

8. Ask For Feedback

You’ll never know unless you specifically ask your guests what they thought of their stay. Don’t be afraid to leave a short, non-intrusive feedback form where guests can share any of their own improvement ideas.

This could be anything from additional amenities to suggestions for local activities. Implement their suggestions whenever possible — again, it shows you care about their input and are constantly striving to make their stay even better.

9. Invest in Professional Photography

This investment costs more upfront than most of the others on our list, but it could eventually pay off tenfold. 

Consider hiring a professional photographer who has experience shooting interiors. Professional photos will make your listing stand out from the crowd. Let’s face it: the better the photos are of your property, the more people will want to stay in it. 

10. Hire a Property Management Team

Managing your STR on your own can be time-consuming. Outsourcing can be a great option for busy hosts who want to free up their time and actually enjoy the fruits of their labor. A professional property management team can handle everything from guest communications and bookings to coordinating with cleaners and keeping up with maintenance. 

This is perhaps the most expensive investment on our list, but it can also be a lifesaver for hosts who want to earn more income without sacrificing all of their free time.

Investing in your short-term rental property doesn’t need to be an intimidating — or expensive — task. Even small improvements and thoughtful touches like the ones mentioned above can make a huge difference! 

This content originally appeared in our twice-monthly Guest Book newsletter.