You have a luxury home and you want to rent it out for top dollar. Well, the phrase “keeping up with the Joneses” should be your very best friend if you want to get the rents you think the property deserves.
Keeping up with the Joneses – Everyone knows that means making sure your home and possessions are better than everyone you know. Having the best house on the block rules. Renting it does too. But what, exactly, does that entail?
Top of the line
To start with it means top of the line flooring: marble, hardwoods, travertine tile. Counters should be marble or granite in the kitchen and baths. Heated floors in the bathrooms, not just the master bath. Top of the line shower heads. The kitchen should have the best appliances: stove and range top, refrigerator, dishwasher, microwave, convection oven. The family room or entertainment room should have the best television, sound system and surround sound. The home systems, like hvac and security, top technology and connected to an app for ease of use.
The best of everything
The best furnishings should be in each room. Luxury renters expect fully furnished homes.
Outside areas should have the best landscaping. Entertaining areas with outside kitchen for grilling. If you have a pool and spa, make sure the decking is the best hardscape available and the pool and filter are in top condition. If you saw it on HGTV or DIY Network and it wasn’t “how to do it on a budget” think about it for your property.
In short, if your neighbor has something better, update yours. Your renters will expect only the best. Be sure to give it to them.