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When you have a property on a famous beach, you’ll always have a place to stay for the times when you just need a break. That being said, your vacation house may suffer from natural wear and tear if no one lives there for an extended period. By renting out your property, you will be doing yourself and your property a favor. Even if you don’t use your property often, you can still make good money from it by renting it out, especially because it’s on a famous beach.
Just bear in mind that vacationers are becoming increasingly picky about the properties they choose to stay in while away from home. Offering a deluxe stay gives you a competitive advantage and introduces you to a new consumer group. In this read, we’ll look at ways you can turn your property on a famous beach into a luxury rental.
1. Implement a Design Plan for the Interior
The interior design of a luxury rental is one of its defining characteristics. When it comes to adding a luxurious feel to a home, it all comes down to the design of the home. This includes everything from the kinds of windows to the siding installation. To obtain a sense of the aesthetic of modern, opulent residences, you can check out the most recent design publications or visit Pinterest. Next, consider little modifications that will make your property stand out, such as a real tree, a new linen couch, or even new pillows.
If you’re unsure where to start, work with an interior designer to improve your property for the luxury market. These professionals are familiar with everything you may need, from local custom closet design to great indoor lighting options. A minor investment in consulting with an expert can yield huge dividends.
2. Install a Solar Panel System
Many variables impact the number of solar panels a residence has, including the size, location, and number of installed solar panels. According to recent research, each kilowatt of installed solar raises the property’s resale value by $5,911. So, if you put a 5kW system, you’re looking at an extra $29,555 in resale value for your single-family house. Tax incentives such as the solar tax credit of 26% and the Investment Tax Credit (ITC) are also available to homeowners who have their own solar system on their property. This translates to federal tax deductions of up to 26% of the overall cost of having a solar power system installed.
That being said, you must purchase the appropriate solar panels for your property to enjoy these benefits. There is a lot of confusion among homeowners about the many types of solar panels on the market. So, when it comes to solar panel installation, is the return on investment the same between inexpensive and premium models? While lower-end solar panels offer cheap initial costs, they are not built to last, and you’ll have to buy new ones more regularly. Modern solar panels, on the other hand, provide more electricity with less waste.
The next step is to find an expert solar panel installer knowledgeable about the solar panel you’ve chosen for your rental property. Choose a brand partner installation if feasible as they will have undergone specialized training for your model. Warranty coverage and repair price cuts are common perks of working with a professional solar panel installer. Consider employing a property management firm when you’re not sure where to go for a reputable installation. They will ensure you receive the finest possible service from a list of trusted providers at a reasonable price.
3. Install an AC Unit
If your property does not already have an ac unit, but you are thinking about adding one, it may help to know doing so is strongly encouraged. In fact, according to several estimates, an ac installation can add as much as 12% to the worth of your property, which translates to between $2,500 and $3,000. This is especially the case if you pick an air conditioner with a high-efficiency rating. A central air conditioning unit not only adds to the value of your property but also makes your home more comfortable, creating a more positive and healthy atmosphere.
Modern central air conditioning systems, also known as heating, ventilation, and air conditioning systems (HVAC systems), are engineered to function considerably more effectively than conventional air conditioning window units. This, coupled with the fact that many current HVAC systems are much more energy-efficient compared to HVAC units from only 5-10 years ago, means that you might even see as much as a 20-40% savings in your energy expenditures and utility bills every month. Your existing monthly power bill, the size of your home, and your system’s energy efficiency will determine how quickly you will be able to recoup the cost of your original investment. It might even happen within the first 8 to 10 years!
If you decide to purchase a new system, you must plan routine maintenance to prevent the need for expensive repairs in the future, which would eat into your savings. In the long run, you will be glad you took the time to perform maintenance on your HVAC system. It is in your best interest to shell out the cash now to ensure that your system continues functioning properly rather than having to shell out even more cash in the future for repairs. Be sure to acquire an AC installation quotation from a local AC professional and ask them the appropriate questions before deciding on a central air conditioning unit and installing it in your home.
4. Install Roof Ventilation
A warm attic in the summer may cause your roofing underlayment to heat up, causing it to become brittle and inefficient. If there is insufficient venting, a buildup of warm, damp air will occur, which can cause substantial damage to your roof’s structure. With a vented roof, you will be able to safeguard your home’s structural soundness and lengthen your roofing system’s life. In addition, the warranties offered by certain manufacturers of asphalt shingles include a provision that allows them to void the warranty if the attic does not have proper ventilation. Validating those warranty terms will require adequate airflow as a prerequisite.
In addition, a vented roof can significantly lower the temperature of the attic floor, ductwork, and interior ceilings, reducing the amount of strain placed on your air conditioning unit. As a result, you will enjoy a significant decrease in your cooling expenses. In the winter, if the warm air produced inside your home is not adequately expelled, it can warm up your roof’s underside, causing melting and refreezing of the snow that has accumulated there. This effect is referred to as ice damming.
The formation of ice dams can eventually cause damage to the roof, including the deterioration of gutters, shingles, and even soffits in certain instances. You may prevent the possibility of ice damming on your roof by ensuring that there is adequate ventilation. Have a specialty roofer come in and take a look at your roof to determine how ventilation can be incorporated.
5. Add Spray Foam Insulation
Gaps and air leaks cause costly heating and air conditioning to be wasted, which in turn increases energy costs unreasonably. The U.S. Department of Energy estimates that heating and cooling consume 56% of a home’s energy. Spray foam insulation offers an alternative to standard cellulose and fiberglass insulation. It works by forming a barrier that limits the entry of heat and cold air, vapor, and moisture into a building’s interior. Additionally, it can be a great sound barrier.
According to the U.S. Department of Energy, a typical homeowner can enjoy up to 15% savings on heating and cooling expenditures by utilizing spray foam to reduce air leaks in roofs and walls. Plumbing vents, basement rim joists, attic hatches, open soffits wire holes, behind knee walls, windows and doors, recessed lighting, and ducts can be sealed using spray foam insulation.
6. Install Siding
Everyone desire to have a nice-looking residence to call home. Because some siding materials are made to withstand deterioration from the sun’s damaging UV rays, a home with a professional siding installation can maintain an attractive appearance for a longer period. You can view the exterior of your home as a blank canvas for you to create the precise appearance you want for your house. This is made possible by the wide selection of materials available.
Insulation can be added to the walls that face the outside by the contractor. Even if you don’t add any more insulation to your home, installing new siding can stop heat from escaping during the winter months and keep your house warmer. During the summer, it prevents the heat from the outside from entering the house. It is also helpful that most siding materials, particularly vinyl and fiber cement siding, require very little to no upkeep to preserve their beautiful appearance. This means that you will be able to spend less time maintaining the outside of your home and more time relaxing and taking pleasure in life.
7. Erect a Sea Wall
A sea wall can serve as coastal protection against occurrences such as surge flooding and upland erosion. A significant portion of the energy that is released when a wave collides with the land is sent back into the water by the seawall. This has a positive effect on the shoreline’s resistance to erosion. In addition, it prevents floods in your home and on your property.
When you erect a sea wall on your property, locals and guests will be able to use the coastline for activities such as strolling, bicycling, and sightseeing comfortably. Additionally, this coastline protection helps to prevent harm to the surrounding ecosystem. Both erosion and floods may wash away soil, reducing the section of your shoreline that is useable. These activities are also harmful to local ecosystems as well as other forms of animals.
8. Install Hurricane Impact Windows and Doors
In the event of a hurricane, the most important thing you can do to safeguard your property on a famous beach from wind and water damage is to install hurricane windows and doors. These highly sturdy impact doors and windows may also serve as a defense against burglars when installed on your property. You’ll cut costs on preparing your home for a storm and your monthly energy bills if you install hurricane windows and doors. If you are considering renting your property on a famous beach, having hurricane windows and doors installed is one feature that will make it more appealing to potential renters.
9. Go Smart
Smart speakers and displays, such as Google Home and Amazon Alexa, may be used to take your vacation rental property on a famous beach to the next level. You can also add a smart heating and cooling system to ensure your guests are comfortable. With the help of smart lighting, you can create an immediate sense of luxury in your rental property. Additionally, smart hubs and smart plugs may take your home’s automation to the next level. As a bonus, these smart home integration ideas will surely impress your tenants.
Renting out a vacation home on a famous beach while you aren’t using it is an effective way to extend its life while still making money. If you want to stand out from all the other renters in the market, start by giving your property a luxurious feel. If this is the case, you can draw inspiration from the suggestions provided above, and you should have no problem finding renters for your vacation property who are both qualified and eager to stay there.