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If you\u00e2\u20ac\u2122re considering the purchase of an investment property<\/a> to gain extra income, chances are that you\u00e2\u20ac\u2122re also thinking about services like Airbnb and VRBO to promote and rent your property. This strategy is becoming more and more popular, with a business model that is turning property owners into competitors to big hotels<\/a>.<\/p>\n Choosing to stay in a private property is also becoming very appealing to travelers, who look for the many advantages of this type of lodging, such as lower costs, flexibility, access to amenities like a kitchen or getting to meet people.<\/p>\n Some of our clients come to us asking for advice to find the ideal investment property. When defining an ideal property to own it’s a very good idea to start the process by asking yourself: who would be my ideal guest?<\/p>\n If you start the process by defining an ideal guest, you can find what is attractive to them and narrow down your search to look for these specific amenities and characteristics.<\/p>\n With this in mind, check out these 5 types of guests, some of the services and amenities they are looking for and pros and cons to consider.<\/p>\n Most young people want a place with a great location, preferably steps away from the beach and the best clubs in the area. The ideal property must have access to amenities like: internet, a pool and commercial areas nearby.<\/p>\n Young people are more forgiving with furniture and\/or the equipment of the property. A basic but nice decoration is more than enough for these guests. This means you can save a little money in furnishings and decoration to pursue the best property available. Things like a super equipped kitchen or state of the art appliances can be put on hold!<\/p>\n Couples are looking for romance: a comfortable bed, a jacuzzi, and a cozy garden are a must. A property in an adults-only building can also be a plus, as couples look for privacy and tranquility to enjoy their time together.<\/p>\n For this type of guest, you need to invest money to create an inviting environment; think of nice decor and comfortable areas to enjoy each other\u00e2\u20ac\u2122s company. Services like a wine chiller with some courtesy wine, a basket of fresh fruit or even flower bouquets might enhance the popularity of your property.<\/p>\n Families will need spaces that are safe for children and provide enoughroom for everyone, and if the property includes kid-friendly amenities such as a big park, play areas, and a pool you will increase the popularity of your property. If your vacation rental has internet, Smart TV\u00e2\u20ac\u2122s and maybe some video games\u00e2\u20ac\u00a6 it will be a complete hit!<\/p>\n A fully equipped kitchen, a dishwasher and even a washer-drier are more than welcome. Access to services like supermarkets, doctors and shopping malls are suitable as well. Offering services such as daily cleaning, a welcome-grocery pack, and optional nanny services will make your property completely irresistible.<\/p>\n Families tend to avoid noise and crowds and are more willing to stay in a place not so close to the beach or attractions. This means you can purchase a bigger property in a subdivision, for a fraction of the cost.<\/p>\n Retirees and snowbirds are looking for places to spend long periods of time, either to escape the winters, to save money or just to enjoy an experience. Most retirees want a quiet area, preferably within walking distance to services and amenities.<\/p>\n Properties on the ground floor or homes with just one level are the best bet for this market. A property in a development for adults only or a retirement community with a quiet and relaxing environment are great options.<\/p>\n Business travelers are looking for a comfort and great location close to convention centers, big corporations or businesses. You must provide a quiet environment, a reliable internet connection and a space to work.<\/p>\n A small kitchenette to prepare coffee or prepare some food is a nice touch, but it can be something pretty basic. Other needs to keep in mind are a closet to hang clothes, ironing board and iron, as some professionals need to keep their clothes in perfect conditions. Offering to take care of laundry and dry-cleaning would be a nice touch. Otherwise, just provide your guests with this kind of valuable info.<\/p>\n So, have you ever thought of your ideal guest? Which of these sounds like an ideal customer for you?<\/p>\n Now, if you\u00e2\u20ac\u2122re interested in learning more about how to make an income by renting a property, sign up for our latest webinar<\/a>, \u00e2\u20ac\u02dcInvesting in Mexico: Tips to generate income from your property\u00e2\u20ac\u2122 and learn from the experts!<\/p>\nTo choose the ideal property, think about your ideal guest<\/h2>\n
Young travelers <\/strong><\/h3>\n
\n\n\n
\n Pros<\/strong><\/td>\n Cons<\/strong><\/td>\n<\/tr>\n \n Low expectations regarding equipment, furniture and amenities.<\/td>\n Noisy, might not care for your property as much, not so focused on cleanliness.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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\nCouples<\/strong><\/h3>\n\n\n\n
\n Pros<\/strong><\/td>\n Cons<\/strong><\/td>\n<\/tr>\n \n Adults, low-key, responsible.<\/td>\n You will need to make a big investment in decoration, to create a romantic yet tasteful environment. Nice furnishings and equipment are expected.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n Families<\/strong><\/h3>\n
\n\n\n
\n Pros<\/strong><\/td>\n Cons<\/strong><\/td>\n<\/tr>\n \n Responsible, clean, quiet gatherings.<\/td>\n Young children might cause damages and noise.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n \u00c2\u00a0<\/div><\/h3>\n
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\nRetirees<\/strong><\/h3>\n\n\n\n
\n Pros<\/strong><\/td>\n Cons<\/strong><\/td>\n<\/tr>\n \n Responsible, clean, quiet.<\/td>\n More demanding, want things to be \u00e2\u20ac\u02dcright\u00e2\u20ac\u2122, inflexible.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/div><\/h3>\n
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\nBusiness travelers<\/strong><\/h3>\n\n\n\n
\n Pros<\/strong><\/td>\n Cons<\/strong><\/td>\n<\/tr>\n \n Responsible, clean, quiet.<\/td>\n Providing a quiet area to work might be a challenge in some neighborhoods.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
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