With so much competition out there, it’s difficult to find ways to make your rental property stand out from the crowd. Many owners are offering unforgettable, “Instagram-worthy” stays, so what can you do to secure those important year-round bookings?
In this post, our team of experts share the key factors which make the perfect rental property. From safety and comfort to location and exceptional facilities, we’ll be covering the essential components to help you create a highly successful, profitable rental business.
The checkpoints for the perfect rental property…
1. Safety and cleanliness
Safety is crucial. Before anything else, it’s imperative that your property meets all of the requirements when it comes to fire, security, weatherproofing and pool/hot tub safety. Depending on the facilities you offer, more regulations may be needed.
Cleanliness is also a basic prerequisite – you can have the most impressive property, but if it’s not clean, guests won’t be able to appreciate the extra investments you have worked hard to include.
2. Comfort
At OVO Network, we recommend the following guidelines for maximum guest comfort:
- 1 bathroom per bedroom.
- 1 extra toilet on every floor.
- A living room area suitable for the advertised capacity.
- Enough kitchen equipment for the advertised capacity (large properties need 2 dishwashers, 2 fridges etc).
- A dining table big enough to comfortably sit all guests at once.
- A well-configured space – eg bedrooms aren’t too close to noisy rooms like games rooms or living rooms.
- Ideally, there is a garden or ample outdoor space.
Capacity
Chalets with large capacities are relatively rare on the market, so as a result, guests looking to book a sizable group will be more likely to choose your property.
It is important to keep in mind, however, that larger capacity chalets often have higher operating costs, and off-season pricing can be challenging.
In addition, larger chalets aren’t necessarily fully booked. Our 20-person chalets, for instance, are mostly occupied by 15-16-person groups. The French Alps also require additional fire safety compliance for properties over 15 people.
In some cases, it may be better to offer two independent chalets side by side, or if your property is very large, to split it into two semi-detached chalets.
With this kind of configuration, you can accommodate either large groups (by booking both properties) or smaller groups (by booking both properties separately).
However, to perform well, your website needs to be completely transparent. Guests must clearly understand that they can be booked together or separately. Take a look at how we list semi-detached properties Pralor Le Peille and Pralor Le Nova.
3. Versatility
In order to capture the widest possible audience, you should aim to appeal to as many guest profiles as possible. The wider the guest base, the more chance you have of securing bookings.
To achieve this, you need to consider two things. First, carefully review the property’s configuration and facilities – for example, how many of the rooms are ensuite? Or how easy is it to get from the kitchen to the outdoor dining area?
Secondly, think about the equipment available to your guests. Additional equipment such as hot tubs, saunas, pools and home cinemas give your property its unique selling point and set it apart from the rest.
Here are the core markets and how to adapt your property for each one:
Families
Whether it’s young families, parents with teenagers or those travelling with elderly guests – families often take centre stage when it comes to your target audience. And it’s important to understand their preferences.
For example, families with younger children and babies often prefer properties which have a bath, whereas elderly people might prefer a shower, so if you can, offer both.
Those with young children might want a playroom with baby-friendly toys and will need a safety barrier at the top of the stairs. However, families with teenagers may prefer a games room with a ping pong table or a PlayStation.
It goes without saying, no one has unlimited space at their disposal. But, aim to prioritise the most important facilities and equipment and think of ways to make them versatile. For example, you could build a games room and playroom in one – which can be used either way depending on the guests.
Facilities which allow kids to have their own space, (home cinema and games rooms) work brilliantly in family-friendly properties.
Groups of friends
Next, there are groups of friends – and the facilities and equipment can be pretty varied for this audience. Spa facilities such as hot tubs, saunas and pools are popular among pretty much all guests, but will greatly appeal to groups of adults like this.
Consider that groups of friends may consist of single people or couples. That’s why it’s a good idea to purchase twinable double beds (so that each room can be made up of two single beds or one double bed).
Remote workers/business trips
We’d strongly recommend considering remote workers and business trips when designing your chalet.
Covid saw a huge increase in remote working, meaning more people are now able to take a working holiday in the Alps.
By the same token, adapting your property for business trips can be a lucrative decision, as these groups may be more willing to travel at off-peak times, therefore boosting your revenue during quieter periods.
High-speed Wifi (7mbps and above) and plenty of working space (ideally including private desks in rooms) are a must. Again, consider twinable beds which allow greater flexibility, as business trips tend to be groups of single guests.
Guests with pets
For many guests, their pet is part of the family. Therefore, making your property pet-friendly is an easy way to engage with a very broad market.
The great thing about making your property pet-friendly is there’s really very little to do from your side. There are extra steps you can take to create a great environment for holidaymakers with pets. Although, the general approach is to secure your outdoor areas and provide some house rules.
4. Uniqueness
If you’re wondering how to boost rental revenue – then unique facilities are a big factor.
OVO Network partner properties all have at least one “wow factor” that makes them special. Whether it’s a hot tub, a sauna, a swimming pool, a pétanque court or exceptional views – try to provide something that guests may not be able to experience at their own homes.
The benefits of offering a unique facility:
- The property stands out on the various listing sites.
- Guests book specifically to experience the novelty.
- It enhances guest satisfaction, therefore improving feedback and reviews.
- It creates a memorable stay, increasing the chance of repeat bookings from loyal guests.
You should make sure the facilities/equipment that makes your property unique are photographed well and clearly listed on your website. Based on OVO network partner properties, indoor pools are the most profitable facilities, followed by hot tubs.
5. Location
Different guests will have varying preferences when it comes to location. Although some may enjoy being in the heart of the action, others might prefer quieter, more remote destinations.
Either way, ideally, guests should have easy access to the main attractions such as the town centre and the pistes. This doesn’t necessarily mean they must be within walking distance, but close proximity to a bus stop is a real plus.
Final advice
And finally, remember, you could have the most impressive, luxurious chalet on the market. But, if it’s not presented well online, it will not perform as well as it should. Take a look at this article to see how best to market your business online.
The same goes for the guest experience – so make sure you work with an experienced guest/property manager, who is passionate about making their holiday special.
We hope you found this guide to creating the perfect rental property helpful. However, in practice, there are many elements involved when running a successful holiday rental business…
So, if you want to own a successful holiday rental business and enhance the resale value of your property while hardly lifting a finger, contact OVO Network today. Arrange a call and find out more about our complete business solution or try our free short-term rental income calculator to see how much income your property could generate on our platform.
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