The property management franchise recently shared five considerations to make while choosing essential furniture/decor items for short-term rentals and serviced accommodation properties.
Luke Capital Group speaks from experience, with over 50,000 guests across multiple countries and plenty of data to examine. The property management franchise said with confidence that the inclusion of essential furniture and items in these types of rentals is the best way to maximise revenue, and then suggested that when furnishing these accommodations with the aforementioned things, there were five key facets to consider:
1. The guest experience - Making a good first impression is extremely important, “and how you dress your property and design it is crucial”. Luke Capital Group recommended that you “put yourself in [the renter’s] shoes as they approach the property and go inside”.
2. Your brand identity - “Think about how you want to look and feel as a brand in 3 years or even 5 years time and set yourself up, now, like that. Maintain your brand standards with all your setups and your acquisitions and never break the boundaries.”
3. Durability - Durability matters. In the words of Luke Capital Group, “‘Buy Cheap, Buy Twice’ and ultimately it will cost you more. Your furniture is going to get some hammer, so make sure it can take it, or your ongoing furniture costs will eat into your profits.”
4. Return on investment - “The more luxurious you make the property, the more money you will be able to attract. However, there will be a ceiling price on this, so you have to find the middle ground.”
5. Ease of replacement - Don’t buy unique items with limited availability that’ll be challenging to replace, like “fancy blue plates for one property and yellow for the next”. The smaller details matter, and even something like a mismatched plate could make “a huge difference” to the guest/rental experience.
Find out more about a potential investment with growing franchise Luke Capital Group via its profile page, which you’ll discover linked above.
Lily Sweeney, Point Franchise ©
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