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So here we are, almost into summer. Broadway is about to start flooding with tourists. The grounds of the historic Saratoga Race Course will begin buzzing with energy. And we’ve already penciled in those countless social gatherings that bring the locals and “summers” together. So it’s no surprise why so many residents choose to rent out their homes and take advantage of Saratoga’s popular horse racing season.
It’s not uncommon for homes (and I’m not just referring to those trackside) to rent for thousands per week, or $50K for the entire track season. Nor for families to make their annual mortgage payment with the money made from just those few weeks. It’s a lucrative and competitive market. This week I chatted with local staging and design expert Andrea Masterson of 3 Eleven Home, who offered some great tips on getting the most for your track rental, differentiating your rental in the sea of options, and securing those repeat renters!
CREATE A SPACE THAT’S INVITING TO ALL
When decorating your summer rental, it’s important to appeal to all types of guests, including couples, families, ladies or gents enjoying a weekend away, etc. A classic and neutral color palette is a great place to start. Adding local or equestrian-themed accent pieces are always a fun way to create a unique Saratoga experience for the renter. Pillows, artwork and coffee table books from local shops like Silverwood Galleries, TOGA Heritage, Impressions or Northshire Books are a great way to do this.
MAKE ROOMS MULTI-FUNCTIONAL
Declutter and clear out rooms so that a renter is able to utilize the space for multiple purposes. With many people now working remotely through the summer months, a simple desk or clear work surface in several areas of the house is highly valued. The combination of a pull-out sofa and desk is an incredibly useful set up. A short-term storage unit is a great way to create space. Consider storing personal items that are cluttering or that you don’t want to give renters access to, like clothing, family heirlooms, expensive dishes and your family’s linens.
INVEST IN QUALITY FURNITURE UP FRONT
Rental properties mean wear and tear. If you don’t invest in higher quality furniture up front, you will be constantly replacing pieces and it will end up costing you more in the end. Furniture that you must assemble tends to wear faster than pieces that come ready to use from furniture stores. Inspect your pieces annually to make sure nothing needs to be fixed or replaced. You don’t want guests pointing out that furniture is broken or upholstery is torn.
SLEEP IS NOT OVERRATED
If your guests don’t get a good night sleep, they won’t come back. No matter how great the rest of their experience might have been. Be sure your mattresses and pillows are in good condition. When possible, have both a firmer mattress in one bedroom and a softer one in another to allow the renter to choose their preference. Vary the pillow firmness as well. Remember that beds dressed in crisp white linens give the renter a more luxurious, hotel-like experience, and bring an extra touch of comfort.
DON’T FORGET YOUR OUTDOOR SPACE
People want to be outside as much as possible, making the most of our gorgeous Saratoga summer weather. Be sure to design a spot for people to enjoy their morning coffee and afternoon cocktail. Comfortable seating that encourages conversation sets the stage for an unforgettable summer evening. Outdoor dining areas and firepits are also very attractive to summer renters, and will help differentiate your rental.
Whether you’ve rented out your home for years or are considering doing so, I hope these tips find you with just a few more dollars in your pocket. To place just a few more winning bets this summer.
Looking to clear out space this summer and stage your home for your summer renters? Prime Storage has storage unit sizes ranging from 5×5 to 10×30 (and beyond!) Check out all the storage options available near you!