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What Makes a Rental Home High-End? Luxury Rental Home Defined

A High-End Living Area with High Ceilings and Large WindowsThere is a significant difference between a regular Plymouth rental property and a high-end luxury home. Do you know what makes a rental home qualify as a luxury home? And how can you see to it that your property is considered “high-end”? This blog post will explain 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 usually placed in desirable neighborhoods and mostly come with a higher price tag than your average rental. So, what sets luxury rentals apart from the rest? The following are some of the most important features of a luxury home:

  • Location:  Luxury homes are usually found in attractive neighborhoods. This could signify that the property is located in a prime location for work or play, or that it is in a safe and peaceful neighborhood.
  • Size: Luxury homes are typically bigger than your average rental property. For that reason, there is more space for tenants to enjoy, as well as more room for storage and amenities.
  • High-end finishes: Luxury homes mostly include high-end finishes like hardwood floors, granite countertops, and stainless steel appliances.
  • Upgraded fixtures: Examining the fixtures is another way to tell a luxury rental apart from a regular rental. High-end rentals will have upgraded light fixtures, plumbing fixtures, and door hardware.
  • High-quality construction: Luxury homes are often constructed with high-quality materials and construction methods. As a result, the rental is both beautiful and long-lasting.
  • Energy efficiency: Various luxury rentals are designed with energy efficiency in mind. This indicates that the house will have features like double-paned windows and energy-efficient appliances.
  • Smart home technology: Luxury homes typically include the latest in smart home technology. Nest thermostats, keyless entry, and smart lighting are examples of this.
  • Amenities: At last, luxury rentals usually come with premium amenities that are not typically found in a regular rental. These can incorporate things such as a private pool, a fitness center, or a concierge service.

Creating a High-End Rental Property

If you’re interested in upgrading your rental property into a high-end rental property, there are several factors you need to consider. You should first choose the right location. Search for a desirable neighborhood that will appeal to luxury renters. Then, you’ll need to ensure that your property is well-constructed and features high-end finishes. Lastly, you’ll need to incorporate some 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 enticing features.

Managing a High-End Rental Property

If you’re lucky enough to own a high-end rental property, there are a few things you should do to keep it in top condition. You must first screen your tenants carefully. Luxury renters will expect a higher level of service, so you need to be sure that your tenants are respectful and considerate. After that, you’ll need to maintain the property meticulously. This entails regularly inspecting the property and making any needed repairs or improvements. Ultimately, you’ll need to be proactive about marketing your rental. Luxury renters have many choices, so you’ll need to make sure that your property is top of mind.

 

If you are new to the luxury rental home market, it is even more necessary that you talk to someone with experience managing this exclusive property type. Due to this, you should consider contacting one of our professional Plymouth 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 612-230-3953.

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