Finding the perfect short-term rental can be tricky. However, by being flexible and utilizing your resources, you should be able to find something that works.
Start by asking friends, family, and colleagues for recommendations. They will likely have valuable insight and can provide recommendations based on your specific needs.
Know Your Budget
Many people overestimate the expenses they will incur when buying short term rentals in the Upper East Side. Whether buying a whole property or renting out private rooms in their primary residence, new owners often overlook hidden costs like financing for investment properties and ancillary property expenses.
Invest in amenities that will make your guests feel at home. Millennials drive this market and expect affordability and excellent customer service from hosts. They also prefer digital guides and keyless entry. Rocket-fast WiFi is a must-have for these renters.
Be sure to account for utility expenses, furnishing costs, and cleaning services. Investing in these essentials can ensure you get a good review from your guests and retain future bookings.
Do Your Research
If you’re a newbie to the short-term rental market, it’s important to do your research. This can include figuring out if this is a good investment and what local laws and restrictions are in place that you need to be aware of.
It’s also a good idea to ask friends, family members, and neighbors for recommendations. They may be able to recommend a short-term rental property or apartment that is pet-friendly and within your budget.
It’s also important to ask about any additional fees you may be responsible for paying. These may include things like cleaning, electricity, and parking. You don’t want to be surprised by any unexpected costs.
Ask for Referrals
You wouldn’t buy a house or date someone without seeing photos of their place, so why should you do that when looking for short-term rentals?
Ask friends, colleagues, and neighbors for recommendations. They’re likely to know whether or not the property is pet-friendly, allows children, and so on. You can also ask them for tips about what to do in the area and any restaurants or activities they’d recommend.
Encourage repeat bookings by rewarding or giving discounts to your guests who refer new guests. You can even host events or offer upgrades to past guests to show appreciation for their business. Be creative with your approach to attract repeat business, and you’ll be able to boost your rental’s occupancy rate. And don’t forget to update your listing regularly!
When it comes to negotiating, the key is being prepared. This means researching, solidifying action plans, and being willing to compromise.
For example, if a landlord says they can’t reduce the rent, try to devise an alternative offer. This could include offering to mow the lawn or refinish a scratched-up floor.
It also helps to emphasize your value as a tenant. While there are laws against discrimination, a landlord is likelier to make a deal with you if they believe you’ll be a reliable and responsible tenant. Showing that you’re willing to work with them is often enough to convince them to cut you a lease price and length deal. Make sure to get any negotiated terms in writing to protect yourself.
Listen to Your Gut
Often, your gut feeling knows something before your brain does. These feelings are based on a combination of your emotions and past experiences. They can be difficult to rationalize, but your instincts may warn you about potential problems before they become apparent.
For example, trust your gut instinct if a rental’s description makes you feel uncomfortable or suspicious. A landlord who sugarcoats their properties or tries to hide red flags in their descriptions might not be trustworthy.
Having a cozy temporary home while traveling can make a huge difference in your travel experience. But finding a short-term rental that strikes the right balance between cost, comfort, and convenience can be challenging.