Birmingham, England is a thriving city in the West Midlands region. The former manufacturing powerhouse is now home to over 1 million people, a trendy cafe and bar section, and the Birmingham Museum and Art Gallery. That, in combination with being the second-largest city in the UK, makes it a popular tourist destination.
This also makes it the perfect place for savvy investors like you to set up shop. Rental property in this area is a hot commodity, and with a little effort, you can make a steady profit. The trick is to make your property stand out from the crowd of other rentals.
Here’s how to make your Birmingham rental property a successful investment.
Consider A Theme
There are lots of ways you can upgrade a rental property. You could do a popular home extension, put in all new counters, redo the bathroom… the list is limitless. But when you’re trying to make your rental property stand out, you have to go with the unexpected.
Consider a theme that goes with the area. The city is known for its Industrial Revolution-era landmarks, so take advantage of that when you make your designs. You can get furniture that’s inspired by the era, purchase replica artworks, and even give your property a themed name.
Taking the time to incorporate the history of the area into your building will make your rental an experience all on its own that’s sure to stand out to the tourists.
Team Up With Local Establishments
Reach out to local business owners and see if anyone is interested in a little cross-promotion. The people staying in your rental will need to know the best places to visit, eat, and shop, so you can recommend local businesses in exchange for them promoting you.
You could even work together to offer discounts to customers who use both of your services. For example, if one of your renters goes to a local restaurant you’re partnered with, they could get a discount for mentioning your name and vice versa. That way, the deal is beneficial for both businesses.
Be careful when choosing partners for this kind of promotion. You don’t want to send your customers somewhere that doesn’t live up to your brand standards. Even if you have nothing to do with the bad service they receive, they’ll still remember that you sent them there, and that can bring down your reputation.
List The Rental On Multiple Apps
No matter how unique, reasonably priced, or centrally located your rental is, no one will stay there if they can’t find a listing. There are hundreds of apps and websites designed to help people book their trips, and you need to be listed on as many of them as possible. Some of the best rental apps and sites you need to be on include Airbnb, HomeAway, FlipKey, and Vrbo.
The more places your information can be found, the more bookings you’ll get. If these apps or sites have sections to post reviews, encourage your customers to leave feedback. It’s a great way for other people to learn about your property without being suspicious that it’s just a selling tactic.
If you do get a bad review, make sure to address it. Let everyone know what you’re doing to fix the issue. Accountability is important and people like to see you validating their experience.
What Are You Waiting For?
These three tactics will turn your rental into the perfect vacation getaway. If you’ve found your rental but haven’t purchased it yet, what are you waiting for?
You can get apply for a rental loan right now without even picking up the phone. Your tax information isn’t needed, and there’s simple haggle-free pricing for your convenience.
If you like what you see, you can fill out a contact form. A professional will give you a call to chat about the options and get you started.
Now that you know what to do, you can turn your Birmingham rental property into a successful investment. Not to mention a top-notch place to stay.