In the tight short-term vacation rental market, anything that can give you a leg up against the competition and boost your profit margin is welcome. Should this include the installation of a hot tub in your vacation rental home? If so, what tips can help maximize its impact and value? Here are some answers to your questions.
Why Add a Hot Tub to Your Property?
What do your clients want in a vacation rental property? Are you meeting or exceeding their expectations? If your property spends unnecessary time unoccupied, especially in comparison with those comparable to it, it may be time to update and upgrade.
Many vacationers look for amenities like a hot tub, often ruling out rentals that don’t feature them. No matter what spa you choose, you do better with than without.
In addition to more bookings, the right amenity can also keep them there longer and allow you to raise prices. Longer stays by quality renters mean lower advertising and turnover costs. Combine that with higher per-night prices, and you’ll see a return on your initial hot tub installation investment sooner rather than later. And if you decide to sell later, the home’s value may be higher.
The right hot tub or spa unit can also help lengthen the rental season in your area. The Pacific Northwest can get cold and rainy in the winter, which means a drop off in tourism in some areas. But a hot, relaxing spa warms up those cold, wintry nights. A swim spa can get people outdoors, helping entice people to come when the weather may not be ideal or some outdoor activities aren’t operational.
Consider, too, how you use the property when it’s not being rented out to others. Many vacation-home owners rent their property only part of the year in order to offset the cost of owning a second home of their own. This means that you must consider both your renters and yourself. In some cases, the hot tub may be something that you’ve always wanted and improved rental rates could pay for it.
What Kind of Hot Tub Should You Get?
If you decide that a hot tub is a good investment for your property, what kind should you get? Certainly, every landlord should look for a sturdy and resilient unit. Acrylic is usually the best choice for the actual spa, and cabinet or surrounding materials vary in how much maintenance is needed and how hardy they are. This is not an area where you should skimp on lower quality just to save money initially.
In addition, consider the size of your rental versus the size of the hot tub. If your property can sleep up to 10 people, a small hot tub that only seats two or three may not be very appealing. It also may look out of place, drawing attention to its small stature. However, if you rent a home for 2 to 4 people but have a hot tub for 8, you invite parties and undeclared houseguests.
Should your hot tub be permanently installed or not? This is a decision for each owner based on their budget, the area, and their property. Certainly, a fully-installed and permanent in-ground or in-deck spa is ideal. This will raise your property value and rental rates the most. And in some higher-end vacation areas, nothing else will suffice. But you might appeal to middle-income renters with a more modest unit.
Where Can You Learn More?
These and many other factors determine the right move for each individual rental unit owner. The best place to begin is to learn more about hot tub options, sizes, and pricing available in your area.
Marquis Hot Tubs has provided the Pacific Northwest with quality hot tub services for more than four decades. Call or visit our stores in person today to learn more about how our spas can help boost your rental business.
