Where To Save vs Splurge When Setting Up Your Short-Term Rental
Set yourself up for success by knowing where to splurge vs save. Photo: Alexander Wark.
As a new short-term rental host, it can be difficult to assess where to skimp and where to splurge when setting up your space. Until that extra cash flow starts coming in, there are a few items to consider saving on, especially when the quality probably won’t hurt your reviews in the long run.
Keep in mind that where you save and splurge will largely depend on your ideal customer. A family-friendly guest may be looking for extras such as a high-quality playpen, while a remote worker may prioritize high-speed internet. As a short-term rental host, it’s up to you to outfit your home with the items that best fit your ideal guest’s needs. But in the meantime, we’ve outlined a few basic items where every dollar counts.
Here are six places to skimp vs splurge when setting up your brand new short-term rental.
Splurge: High-Quality Bedding & Towels
To give your guests the ultimate hotel experience, consider upgrading your bed linens to something with a high thread count. Expert hosts love to splurge on 500 thread count Egyptian cotton sheets, or in the summer, a linen sheet set is always appreciated. Consider joining a short-term rental group purchasing organization, like HostGPO, who carry brands like Brooklinen and Standard Textile, to enjoy discounts on your bedding.
It’s also important to maintain nice quality sheets for longer use, which means investing in a higher-end detergent and fabric softener. Soft, high-quality bath and hand towels equally elevate a guest's stay. Be sure to keep the bathroom fully-stocked, along with extras in the linen closet.
Insider tip: If you choose all white sheets, towels, bath mats, they can be easily maintained with bleach or hydrogen peroxide. You can read more tips on HostGPO’s blog.
Save: Electronics & Appliances
While things like a TV or microwave are important to have within your short-term rental, you don’t need to purchase the most expensive gear on the market. Take the time to complete research beforehand and find a good mid-level appliance or electronic based on user reviews. For further details and data, read up on Consumer Reports to find basic, reliable products that will keep your guests happy without breaking the bank.
Splurge: Bathroom Products and Toiletries
Keeping in mind the elevated hotel experience, guests love luxury bath products. You don’t have to go crazy, but simply stocking the shower with a shampoo or body wash with a well-known name can bump up your reviews to five-star status. While the cost may be more upfront, it adds up to just pennies per guest use. Our friends at HostGPO recommend Public Goods, offering sustainable and eco friendly products with high end design and luxurious and good quality, and World Amenities, the best option for salon quality, travel-size bottles — both brands available to their members.
Splurge on bath products to give your a guest a hotel experience. Photo: Andrea Davis.
Save: Accent Furniture
There are plenty of ways to save on the cost of bulkier furniture items, especially ones that guests spend little time actually using. For the ultimate cost-saver, you can find incredible second-hand items online on Facebook Marketplace or Craigslist. Remember, you can always negotiate with the seller to see if they are open to selling for a lower price than listed. If you prefer in-person shopping, there are plenty of antique stores that offer high-quality furniture for a reasonable price, plus you’ll inject some charm to your space with one-of-a-kind pieces!
Splurge: Mattress
Perhaps the most important part of the guest experience in a short-term rental is a good night's sleep. The quality of the mattress is often the deciding factor on whether a guest leaves a good review, or a bad one. In today’s market, there are plenty of mattress in a box companies that can ship straight to your door for easy setup. While you may have to review and compare what option is best for you and your guests, a few companies to consider are Casper, Tuft & Needle and Helix, named mattress of the year by Forbes and Wired, and available at wholesale prices exclusively through HostGPO. For bonus points, add an additional topper layer for one dreamy bedding setup that will have guests booking a repeat visit ASAP.
Save: House Guide & Welcome Basket
A nice touch to elevate a guest experience on the cheap is providing a welcome basket. Consider adding a few Nespresso pods, goodies from a local bakery, and if you want to get a little fancy, a bottle of wine. Provide guests the lay of the land with a custom, digital house guide, outlining everything your guest will need to know for a comfortable stay. Folio offers a personalized guest app which includes the property information, as well as a curated local guide outlining attractions and restaurants for less than your Netflix subscription. How’s that for a steal?
While it may not always be the easiest small business to run, short-term rental hosting can be incredibly rewarding — both financially and personally. With just a few quick saving shortcuts, you can get your place up and running in no time. Remember, you can always invest in higher-quality purchases down the line, but in the meantime — happy shopping!