Which type of residential rental owners are you? Maybe you are investors who are willing to spend more on renovating the rooms hoping to generate large revenue, or you are those who just want some extra income with a limited budget to renovate. Or, you only rent out your home on weekends when you’re out. No matter which type you are, in fact, renovation is not the only choice. There is a much simple and affordable way to double your revenue – decoration. Hence, let’s cruise through 4 ways to double your revenue below:
What do your customers want? For Airbnb users, comfortableness is not their only concerns — design also matters. Rooms with specialty or features of the local culture are more attractive to travelers. For those who just want some extra income, simple decoration can increase the rent. For investors, the decoration is even more important – a not-so-expensive way to attract customers and charge more. By simply adding some decorations, you can make the room a lot different, and more importantly, raise your rent per night.
Besides increasing rent per night, decoration provides an opportunity to make your home refreshing from a marketing angle. It can increase the exposure to your visitors-to-be. Your Airbnb home can even be featured on design magazines/blogs and stand out! While this attracts new customers, since your newly decorated rooms are way more impressive and memorable, old customers are likely to come back again or recommend your place to their friends. In either way, the traffic is driven up, the occupancy frequency increase, and the revenue is doubled.
Spending too much on your utilities? Replace your traditional light bulb with a compact fluorescent lamp or switch your single-panel window with energy-efficient ones. You can do a lot to save a few hundred in a long run. You may also want to promote your room as a GREEN room that concerns the ecological footprint, which can, in turn, raise your room’s reputation, and drives potential eco-concerned customers.
You don’t need to always rent your room to limited people at one time. By re-decorating the rooms and set furnitures like sofa beds, air beds or double-deck beds, you can utilize the space more efficiently and maximize the number of customers the rooms are able to accommodate. The increased space, along with the intriguing decoration, can make your rooms get more customers, and so does your revenue.
Decoration can be as much effective as the renovation, but it is simpler and more affordable. If you take the residential rental business as a formal investment, your hosting business will still thrive with less money you expect to spend, and you can even earn more. If you are just hoping to get some extra income from renting out your spare room, the decoration is also perfect, because you just need to spend a little money to earn more than you think. Even if you only rent out your rooms on weekends, the decoration is beneficial – you make your home more beautiful and attractive even to yourself!
Your revenue can be doubled by spending only a little money. Where can you find such an amazing and affordable design? Check out ‘Readimade’ HERE for more information!
Eric and Minerva, archiparti blog contributors
archiparti empowers one-person design firm. From corporates, small teams to one person firms, the world is changing – Gig Economy, Workation, Remote teams – there has been a macro shift towards a new way of work, we are enabling designers in the traditional design and build industry to go independent, focus on creativity, design anytime anywhere, with quality and efficiency. The result is a much more streamlined and efficient project management process for project owners, affordable price and a much more individualized and interesting physical world. Come join the change today!