Vacation rentals can be an extremely lucrative investment strategy, often bringing in two to three times the amount of income compared to a long-term rental. For those expanding their offerings to include midterm rentals—properties designed for tenants staying a few weeks to a few months—the potential for consistent income can help balance the seasonal fluctuations inherent in short-term rentals. Offering specialized services can be equally effective in attracting midterm tenants, providing both convenience and added value. Here are three creative services tailored not only for short-term vacationers but also for midterm tenants, aimed at minimizing their stress and maximizing your profits during all seasons:
No one wants to do laundry when they are on vacation, nor do they want to go somewhere to take their clothes. Think about it. Many hotels offer this service, so there could be a golden opportunity for you.
Not only can you charge a pet fee, but also you can offer services such as grooming or dog walking. People love their pets and love to travel with them.
Often on vacation, parents want a day or night to themselves, but it is hard to find a trustworthy option to leave their children. Take out the stress of finding someone reliable, make a little money, and increase the appeal of your vacation rental.
Bonus- offer a maid service. Who wants to make the bed on vacation? Want more ways to maximize rental profits? See our blog category "Maximizing Rental Profits." Want more resources for real estate investors. See our Resources Page. '
Related: 4 Ways to Get Vacation Rental Guests Their Keys from HomeAway, Financing Challenges for Vacation or Short-Term Rentals (STRs)