The #1 return on investment to get your short-term rental booked out and with top reviews – so you can make more money.
A few days ago, I was a guest speaker at the Destination Italy Summit – a virtual summit featuring people discussing buying property in Italy.
My talk was all about investment properties in Italy.
When we got to the Q&A portion – Tammy of @cheapitaliandreamhomes asked me a very poignant question…
"What is a lesser known – not usually talked about expense - when doing an investment property?"
Which got me thinking. We all know that we'll have to shell out some cash for utilities, the real estate agent (if using one), and/or for furnishing it. If you're American you're probably asking yourself questions about the property taxes for owning a place in Italy (we'll be diving into that in my free training all about buying property in Italy)
But I don't really see people talking about the costs of what I think is ONE OF THE MOST CRUCIAL professionals in the whole process….
AN INTERIOR DECORATOR (or an architect)…
You see, unless you are that professional or you have an incredible eye for design.
(You'll know if all your friends are always telling you how gorgeous your home is, how they wish they had you're your talent, and where you found xyz piece…)
If you're like me, you probably have a decent eye for design but it's not great.
This was our family home and not something we were planning on renting out in this condition. But how many short-term vacation properties have you seen out there that are just “BORING”.
And when you are renting out a home or a hotel to people, you want it to be pretty. Extra pretty. You want it to stand out from the crowd of mediocre to downright ugly properties that flood the market.
In fact, I think that working with a design professional that understands what you are doing:
the need for a return on your investment
where to spend a few extra bucks and where to hold back
and what things need to be extra durable and have curved corners etc.
These things are crucial to a short-term rental.
Personally, I loved working with Sara Glenn, an American currently based in Milan. She helped us redo our previous home and has also turned a few investment properties from drab and boring to something exciting and in line with the target market for the home.
If you look carefully, we only added a few strategic pieces that took the space from bordering on UGLY TO MAGAZINE WORTHY!!
We knew that we wanted to move in a few years, from when Sara helped us redecorate, so we had to be very deliberate and selective about what pieces we added to the space – much like someone furnishing an investment property – since we knew this was not going to be our forever home.
There's also my dear friend Arlene Gibbs an American in Rome, who has decorated homes and hotels in Rome, Tuscany, and the French Antilles.
Whoever you decide to use - remember to check out their past work. While a good designer will and does try to accommodate the taste and lifestyle of their clients... from my personal experience, their personal style carries through from project to project.
Are you thinking about buying an investment property in Italy?
If so, let me know how it's going in the comment box below.
You'll also want to check out my COMPLIMENTARY training on the Essential Things You Must Know Before Buying in Italy, so you can save thousands of dollars and years of heartache.
SEATS TO THIS FREE LIVE TRAINING WILL BE LIMITED. SO STAY TUNED TO DOING ITALY ON INSTAGRAM TO GET ALL THE DETAILS.
INSERT TEXT AND TRAINING REGISTRATION LINKS ONCE THEY GO LIVE.