Nikki O'Rourke
Licensed Real Estate Agent
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- Name
- Nikki O'Rourke
- City
- Honolulu
- State
- HI
- Postal Code
- 96825
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Vacation Condo Makeover Gives Rental the Edge
A buyer recently purchased a clean and simple condo vacation rental with full ocean views in a reasonable price point they did not know existed. As it was purchased at a 'reasonable' price, the furnishings and amenities also reflected the price.
The problem was that this condo was in a hotel rental pool that was barely booking out. Here we were in peak Hawaii tourist season and yet the month ahead showed slim bookings compared to the bounty of captive visitors that Waikiki has enjoyed over most recent years.
We were confident that it would continue to book steadily due to the views. However one cannot survive on views alone (some may argue this point). Something immediate had to be done to protect the future of this buyer's investment.
The buyers arrived on a Friday and within 48 hours of taking posession of the property that day, we removed the old furniture and brought in a truckload of brand new furnishings - from colorful towels, artwork, and 800 thread count linens to plush matresses, a dishwasher and flat screens. It helped that Macy's had their one day sale and the plumber and handyman showed up on time. It would had made any HGTV fan proud.
The following Monday, the vacation rental website property descriptions were updated to elaborate on the plush luxurious king bed, large flatscreens and fabulous views. Then we waited. Ten days later, the new owner reported that the nearly vacant month ahead was now fully booked. The immediate improved occupancy resulted in a nice positive for the buyer and the higher occupany will more than pay for the cost of the makeover.
In any competitive market finding the edge can be intense and exhausting but in this case, the benefits far outweighed the costs. If you do the bare minimum to your rental I have one word for you: Bigbeds&flatscreens!
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