Setting up your property for short-term rentals doesn’t have to break the bank. With a strategic approach, you can furnish and decorate your space to attract guests while keeping costs under control. This guide provides a breakdown of the essential expenses and offers tips for saving money without compromising on quality.
Key Costs of Setting Up a Short-Term Rental
When preparing your property for short-term rental, your budget will largely focus on three main areas: furnishing, decor, and essential amenities. Let’s take a closer look at these costs.
1. Furnishing
Furnishing your rental is the most significant expense, but it’s also where you make the biggest impression. Focus on durable, functional pieces that suit the type of property you’re renting.
Essential Furnishings:
- Living Room: Sofa, coffee table, and accent chairs.
- Bedroom: Bed frame, mattress, side tables, and lighting.
- Dining Area: Dining table and chairs.
- Kitchen: Bar stools or a small table for casual dining.
Estimated Cost Range:
- Budget setup: $3,000–$5,000 for a small property.
- Premium setup: $8,000+ for larger properties with high-end finishes.
Money-Saving Tips:
- Buy second-hand or refurbished furniture in good condition.
- Shop during seasonal sales or clearance events.
- Invest in multi-functional furniture, such as sofa beds or storage ottomans.
2. Decor
Decor plays a crucial role in creating a welcoming atmosphere and making your listing stand out. Simple and cohesive styling can make even a modest space feel luxurious.
Essential Decor:
- Wall art and mirrors.
- Throw pillows and blankets.
- Rugs to define spaces.
- Plants or faux greenery for added warmth.
Estimated Cost Range:
- Budget setup: $300–$700.
- Premium setup: $1,000+ for curated, high-end pieces.
Money-Saving Tips:
- Use DIY decor or repurpose items from home.
- Print inexpensive artwork from online sources like Etsy and frame it yourself.
- Visit thrift stores for unique, budget-friendly pieces.
3. Essential Amenities
Guests expect certain amenities to feel comfortable and at home. Providing these essentials ensures positive reviews and repeat bookings.
Must-Have Amenities:
- High-quality bedding and towels.
- Kitchen supplies (pots, pans, utensils, dishes).
- Bathroom basics (toiletries, shower curtain, bath mat).
- Technology: Wi-Fi, smart TV, or streaming device.
Estimated Cost Range:
- Budget setup: $500–$1,000.
- Premium setup: $1,500+ for higher-quality amenities and extras like smart home devices.
Money-Saving Tips:
- Buy in bulk for items like towels and toiletries.
- Opt for durable mid-range kitchenware instead of high-end brands.
- Check local buy-and-sell groups for gently used appliances.
Budget-Friendly Tips for Setting Up Your Short-Term Rental
1. Focus on Guest Comfort
Invest in a high-quality mattress and pillows—this is one area where you shouldn’t cut corners. A great night’s sleep ensures satisfied guests and glowing reviews.
Tip:
Memory foam mattresses and hypoallergenic pillows are affordable and provide excellent comfort.
2. Prioritize Versatile Styling
Stick to neutral colors and timeless designs that appeal to a wide range of guests. Avoid overly personalized decor or niche themes unless your property is in a specialized market (e.g., a beach house).
Tip:
Neutral tones for walls and furniture can make a space feel larger and more inviting.
3. Create a Functional Kitchen
Even small properties benefit from a well-stocked kitchen. Guests appreciate the ability to prepare their meals, especially for longer stays.
Tip:
Include items like a kettle, coffee maker, and toaster as cost-effective extras that guests love.
4. Add Thoughtful Touches
Small, thoughtful details like welcome snacks, local guidebooks, or extra phone chargers can elevate the guest experience without adding significant costs.
Tip:
A handwritten welcome note or a basket of local treats can leave a lasting impression.
5. Keep It Clean and Minimal
Clutter can make your property feel smaller and harder to maintain. Focus on clean, functional spaces with minimal decor.
Tip:
Use multi-purpose storage solutions to keep the space organized and guest-ready.
How NG Property Management Helps with Short-Term Rentals
At NG Property Management, we help property owners set up and optimize their short-term rentals for maximum appeal and profitability. Here’s how we support you:
- Cost-Efficient Setup Advice: We provide tailored recommendations for furnishing and amenities to suit your budget.
- Interior Styling Support: Our team helps create a cohesive, attractive look that appeals to your target market.
- Vendor Connections: We connect you with trusted suppliers for furniture, decor, and appliances at competitive prices.
- Full-Service Management: From setup to ongoing operations, we handle every aspect of your short-term rental to save you time and stress.
Key Takeaways
- Break down costs into furnishing, decor, and amenities to create a manageable budget for setting up your rental.
- Focus on guest comfort and functional spaces to attract positive reviews and repeat bookings.
- NG Property Management offers expert guidance to help you set up your short-term rental efficiently and affordably.
Ready to turn your property into a thriving short-term rental? Contact NG Property Management today to learn how we can help you maximize your investment returns.
Disclaimer: This blog provides general information and should not be considered financial advice. Please consult a professional for specific guidance on setting up short-term rentals.
