There is a large difference between a regular Wichita rental property and a high-end luxury home. Do you know what makes a rental home qualify as a luxury home? And how to confirm that your property is considered “high-end”? In this blog post, we will examine a few 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 located in desirable neighborhoods and always have a higher price tag than your average rental. So, what sets luxury rentals apart from the rest? Here are some of the most important features of a luxury home:
- Location: Luxury homes are generally placed in popular neighborhoods. This might indicate that the property is set in a prime location for work or play, or that it is in a safe and comfortable neighborhood.
- Size: Luxury homes are generally bigger than your average rental property. In that case, there is more space for tenants to enjoy, as well as more room for storage and amenities.
- High-end finishes: Luxury homes generally incorporate high-end finishes like hardwood floors, granite countertops, and stainless steel appliances.
- Upgraded fixtures: Another tactic to tell a luxury rental apart from a regular rental is by examining the fixtures. High-end rentals will have upgraded light fixtures, plumbing fixtures, and door hardware.
- High-quality construction: Luxury homes are always built with high-quality materials and construction methods. This results in a rental that is both beautiful and strong.
- Energy efficiency: Several luxury rentals are designed with energy efficiency in mind. This guarantees that the home will contain features like double-paned windows and energy-efficient appliances.
- Smart home technology: Luxury homes generally incorporate the latest in smart home technology. This can contain technologies like Nest thermostats, keyless entry, and smart lighting.
- Amenities: Ultimately, luxury rentals are typically associated with premium amenities that are not often found in a regular rental. These can accompany 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 a few things you need to keep in mind. First, you’ll need to choose the right location. Look for a desirable neighborhood that will appeal to luxury renters. Next, you’ll need to make sure that your property is well-constructed and features high-end finishes. Finally, you’ll need to add 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 desirable features.
Managing a High-End Rental Property
If you’re privileged enough to own a high-end rental property, there are a couple of things you need to do to keep it in top condition. Firstly, you’ll need to screen your tenants carefully. Luxury renters will expect a higher level of service, so it’s advisable to check if your tenants are respectful and considerate. Secondly, you’ll have to maintain the property meticulously. This means regularly inspecting the property and conducting any necessary repairs or improvements. As a final point, you’ll need to be proactive about marketing your rental. Luxury renters have several choices, so it is advisable to ensure that your property is top of mind.
If you are new to the luxury rental home market, it is even more vital for you to talk to someone with experience managing this exclusive property type. This is why you need to think about contacting one of our professional Wichita 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 479-242-0791.
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