Homeowners and property managers who rent short term should be mindful of any regulations surrounding short term rentals such as zoning codes, permit requirements, taxes obligations or more that could arise during this process.
Finding a contractor familiar with the needs and specifications of your building or coop is crucial. Seek out a team that has had prior experience working in similar apartments as yours and has established rapport with management or the coop board.
Upgrade the kitchen
Kitchens are an essential component of rental apartments, and your guests expect them to be equipped with everything necessary for cooking in them. Provide them with essentials like high-quality cutting boards, stainless steel pots and pans and dishwashers; additionally, consider upgrading with modern touches like installing new backsplashes to give the room more contemporary looks.
Paint can add a fresh new look to a kitchen that otherwise feels dull, and if your landlord allows it, consider painting one color throughout to update its feel without undertaking an entire remodel.
Though it might be tempting to outfit your short term rental with flashy gadgets worthy of Gordon Ramsay, guests prefer practicality over flashiness. When choosing kitchen essentials from Great Jones or Poketo brands like their online marketplaces such as Great Jones Market or Poketo Market you should prioritize practicality over flashiness.
Install new windows
New windows (for example: Tilt & Turn Window draftLOCK™ Plus Euro Series) can enhance the appearance of any apartment or short term rental. Not only can they reduce energy costs, but they can also offer essentials such as security. While considered capital improvements, their value will depreciate over time; but it is important to remember that any cost of replacing them will likely be offset by savings on heating and cooling bills.
Another cost-effective renovation idea for short term rentals is installing new flooring. Doing this can give an apartment a fresh new look while simultaneously drawing more guests in. However, when selecting durable floor coverings that can easily be maintained it's essential that they can withstand long term use and cleaning schedules are clear.
Before renovating a short term rental, it's essential to thoroughly vet potential tenants with an intensive background check service such as TransUnion SmartMove. By gathering reports on applicants' criminal and credit histories, this will ensure you only rent to reliable individuals who will pay rent on time; additionally, collecting rent will become much simpler while managing maintenance.
Rearrange the furniture
Furnishing a short term rental apartment doesn't need to be difficult or expensive. There are many ways you can make your apartment stylish yet inviting on a tight budget. Start by measuring how much space is available before selecting furniture to fill that size based on what fits best within that size range. When renting to students or interns, for instance, keep this audience in mind: they may not require luxurious leather armchairs with 1,000 thread count sheets!
Don't shy away from using bold colors when decorating. They can add a fun splash of color that draws people in while keeping things comfortable for yourself and guests alike. Just remember not to go overboard; too much colour could become overwhelming and make your apartment appear chaotic.
Prior to signing a lease agreement, it's also wise to investigate if your apartment allows short-term rentals. As large groups of guests could cause damage and be disruptive for nearby residents, and you could potentially be held liable for covering repair costs yourself.
Paint the walls
One of the easiest and most effective ways to upgrade a rental is through repainting. While this can be costly, repainting can make an apartment feel brand new and more livable - though be sure to consult with your landlord first as some require specific colors or brands while others might prohibit any alterations at all.
If you decide to paint the walls yourself, use a semi-gloss paint that wipes clean easily. Walls can get dirty quickly due to kids, pets, and other tenants so selecting a durable finish is key for long term savings. Furthermore, offering to repaint when leaving will give your landlord peace of mind that their property will be ready for new tenants when the time comes! If they do not allow painting themselves then offer to recoat when leaving with different color. This gives the landlord confidence that the home will stay in good condition before handing over to someone new renter!
Indeed, every renovation оf your apartment has the potential tо attract even more guests. By enhancing your space, you create an inviting ambiance that appeals tо renters and makes your apartment stand out іn the market.
