There is a significant difference between a regular Jerome rental property and a high-end luxury home. Do you know what makes a rental home qualify as a luxury home? And how to confidently say that your property is considered “high-end”? This blog post will explore 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 mainly located in desirable neighborhoods and often entail a higher price tag than your average rental. So, what sets luxury rentals apart from the rest? Here are a few of the most important features of a luxury home:
- Location: Luxury homes are typically placed in attractive neighborhoods. This might imply that the property is situated in a prime location for work or play, or that it is in a safe and tranquil neighborhood.
- Size: Luxury homes are comparatively larger than your average rental property. It means that there is more space for tenants to enjoy, as well as more room for storage and amenities.
- High-end finishes: Luxury homes commonly contain high-end finishes like hardwood floors, granite countertops, and stainless steel appliances.
- Upgraded fixtures: Another tip to tell a luxury rental apart from a regular rental is by looking at the fixtures. High-end rentals will have upgraded light fixtures, plumbing fixtures, and door hardware.
- High-quality construction: Luxury homes are typically constructed with high-quality materials and construction methods. This is why the rental is both beautiful and sturdy.
- Energy efficiency: Most luxury rentals are designed with energy efficiency in mind. This means that the property will have features like double-paned windows and energy-efficient appliances.
- Smart home technology: Luxury homes usually incorporate the latest in smart home technology. This may include innovations such as Nest thermostats, keyless entry, and smart lighting.
- Amenities: Lastly, luxury rentals often feature premium amenities that are not mainly seen in a regular rental. These can include features like a private pool, a fitness center, or a concierge service.
Creating a High-End Rental Property
If you’re keen on upgrading your rental property into a high-end rental property, there are a couple of things you need to know. Initially, you’ll need to choose the right location. Search for a desirable neighborhood that will appeal to luxury renters. Then, you’ll need to confirm that your property is well-constructed and features high-end finishes. Lastly, you’ll need to offer a couple of 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 interesting features.
Managing a High-End Rental Property
If you can manage to own a high-end rental property, there are a few things you have to do to keep it in top condition. Firstly, you should screen your tenants carefully. Luxury renters will expect a higher level of service, so it’s recommended to guarantee that your tenants are respectful and considerate. Secondly, you must maintain the property meticulously. It means regularly inspecting the property and performing any necessary repairs or improvements. At last, you’ll have to be proactive about marketing your rental. Luxury renters have several choices, so you’ll need to ensure that your property is top of mind.
If you are new to the luxury rental home market, it is even ideal for you to talk to someone with experience managing this exclusive property type. Because of this, you must start contacting one of our professional Jerome 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 208-734-4001.
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