There is a significant difference between a regular Washington rental property and a high-end luxury home. Do you know what makes a rental home qualify as a luxury home? And how to verify that your property is considered “high-end”? In this blog post, we will look at some of the features that make a rental home luxurious and tips for creating and managing high-end rental properties.
Luxury Rentals Defined
Luxury rental homes are residences that offer premium amenities and finishes. These properties are often found in desirable neighborhoods and often have a higher price tag than your average rental. So, what sets luxury rentals apart from the rest? Below are some of the most important features of a luxury home:
- Location: Luxury homes are mostly located in good neighborhoods. This might imply that the property is placed in a prime location for work or play, or that it is in a safe and serene neighborhood.
- Size: Luxury homes are often bigger than your average rental property. Because of that, there is more space for tenants to enjoy, as well as more room for storage and amenities.
- High-end finishes: Luxury homes mainly come with high-end finishes like hardwood floors, granite countertops, and stainless steel appliances.
- Upgraded fixtures: Another trick to tell a luxury rental apart from a regular rental is by checking the fixtures. High-end rentals will have upgraded light fixtures, plumbing fixtures, and door hardware.
- High-quality construction: Luxury homes are commonly utilizing high-quality materials and construction methods. In this manner, the rental is both beautiful and enduring.
- Energy efficiency: Lots of luxury rentals are designed with energy efficiency in mind. It means that the home will have features like double-paned windows and energy-efficient appliances.
- Smart home technology: Luxury homes typically come with the latest in smart home technology. Nest thermostats, keyless entry, and smart lighting are instances of such innovation.
- Amenities: Finally, luxury rentals usually come with premium amenities that are not often found in a regular rental. These can include amenities such as a private pool, a fitness center, or a concierge service.
Creating a High-End Rental Property
If you’re intending on upgrading your rental property into a high-end rental property, there are a few considerations you have to mind. First, you’ll need to choose the right location and seek a desirable neighborhood that will appeal to luxury renters. Then, you’ll need to confirm if your property is well-constructed and features high-end finishes. At last, you’ll need to offer some luxurious amenities to set your rental apart. You could consider adding some concierge services, like yard maintenance or a weekly cleaning service. Or highlight local amenities like good schools, performing arts, or other desirable features.
Managing a High-End Rental Property
If you’re lucky enough to own a high-end rental property, there are a few things you should do to keep it in top condition. At first, you’ll need to screen your tenants carefully. Luxury renters will expect a higher level of service, so it is best to ensure that your tenants are respectful and considerate. Following that, you’ll need to maintain the property meticulously. This includes regularly inspecting the property and performing any necessary repairs or improvements. Lastly, you’ll need to be proactive about marketing your rental. Luxury renters have a lot of choices, so you’ll need to guarantee that your property is top of mind.
If you are new to the luxury rental home market, it is even more important for you to talk to someone with experience managing this exclusive property type. In that case, you need to consider contacting one of our professional Washington property managers. Our team has the experience and expertise to help you upgrade your rental property and navigate the world of managing high-end rentals. Contact us online or call 435-673-4242.
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