Tuesday, April 25, 2017

Top 3 Renovations to Make on Your Vacation Rental Property

You may wonder what the return is for the cost of any renovations that you make on a vacation rental property.  Vacation rental properties in the Wasatch Back are often sought after for skiers and snowboarders from November to April and for Family Reunions between May-September.  Between the skis, boots, poles and snowboards as well as gaggles of children, what renovations should you make on your vacation property.

From my experience with clients who own rental properties and speaking with marketing companies such as All Seasons Resort Lodging (talk to Jason Renfro for the Park City area) here are the top 3 renovations that I suggest you consider for your vacation rental:

1.  If you have a driveway and anticipate renters driving to the property, versus being shuttled, a heated driveway is awesome.  The cost may be prohibitive after newly purchasing a property, but if there is any way you are able to install a system, it is great to know your driveway is clear of snow.  It may also reduce liability risks.

2.  After skiing, there is nothing better than to relax in a hot tub.  If you don't have room for a hot tub, a jacuzzi heated bathtub is a great option and some may prefer this for the privacy and also for cleanliness.

3.  The Wasatch Back has such awesome views, a deck with outdoor deck heaters is almost a must. Get some nice deck furniture that will hold up in the snow and then add the necessary patio heaters so your renters may enjoy the sunset and the city lights or night skiing lights.

That was all Winter ideas, so let's throw in three more ideas for Summer time renters:
1.  Let's start with the deck.  A nice deck is also a big asset for summer renters that want to enjoy the mountain and valley views as the hot days of summer cool off.

2.  Bike ceiling hooks or storage areas in the garage.  The Wasatch Back is a great place for mountain bike riding or road bikes - check out Utah's own Fezzari Bikes.

3.  A nice grill.  People will probably grill outside during the Winter, but during the Summer it is a must.  If you are not able to connect the grill directly to a gas line, make sure you keep a propane tank full and on reserve.

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