What do you consider "upscale"??

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.
Musetta
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What do you consider "upscale"??

Post by Musetta »

we are considering turning our current long term let into a HR :-) (lots of factors...mostly though, bad luck with really rotten recent long term tenants!) Financially, it is probably better as a long-term...so...we are still on the fence about it.

Our little place in Italy is geared more towards the budget traveler...but this is a nice, four bedroom home and I think we would probably market it to a more "upscale" seeking crowd...so...

what makes a property higher-end to you? (we are adding up furnishings costs, etc. to see if it would work) The home is old and charming, but no en suite (so there's one against luxury right there)...4 bedrooms and two full baths, in a cute village with 30min. direct train to NYC.

Obviously, nice furnishings and plenty of lovely towels :-) (hahahaha...it's in America so no stress with teeny tiny Italian washers!)...

flat screen TV with cable (maybe TVs in the bedrooms too?), stereo system, wireless Internet (and the usual books, games, toys, bikes, etc.) Garden furniture (dining table and chairs and loungers)...stainless steel gas BBQ...what else???

Any other ideas??

just trying to do my due diligence before I pitch the idea (and what it will cost us since the house currently rents unfurnished) to my husband.

Thanks for any tips!
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p.s. wow! just did a search and found an old thread about "luxury" - don't want to get into that again...so...sorry (!) mostly looking for things to add that would make the property stand out and make someone want to stay there rather than a one bedroom in the city :-)
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Ju
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Post by Ju »

The absolute number one item has to be style. The interior design of the property is what will really make the difference between a standard let and a luxury one. The flat screen tv etc is just the icing on the cake.

You need to be able to take a photo of every room which would be good enough to go into an interiors magazine. Sometimes that will envolve spending money to get high quality furnishings etc, and sometimes it won't.

Note I am not saying that fluffy towels, comfy beds and hot showers aren't important, I am just taking them as a given.
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vrooje
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Post by vrooje »

In the US it seems to be all about kitchens and bathrooms. If I were going for upscale, I would say that the kitchen would need natural stone countertops (granite, limestone, soapstone etc.; perhaps even a quartz composite or recycled glass, but *not* laminate or tile), high-end appliances like a quiet dishwasher, a nice gas range or an induction stove, side-by-side or freezer-below fridge. If you're renting it furnished, then I'd provide stainless steel cookware as well.

Likewise in the bathrooms with stone counters and high-end fixtures, tiled showers, etc. Vessel sinks are also very popular right now and instantly mark the room as higher-end.

I agree with Ju about style being very important (high-TC linens, that sort of thing too), but for the chic NY-visitor types, if you have a kitchen with laminate counters and brass fixtures, or a bathroom with a tiny tub and 80's vanity, in my opinion it's just not going to be upscale enough to call it luxury.
Brooke
Musetta
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Post by Musetta »

Brooke- hahhah :-) the vision of the laminate and brass knobs made me giggle.

Ju - should have looked on your website sooner - what a pretty, casual look - similar to what I would be going for (i.e. kid-friendly, but not tacky!)

have tons of photos...but they are all with an empty house (!) so that's why I would need to do some shopping/decorating/staging before I could market it!

this is the kitchen (and downstairs bathroom) - it just doesn't look too inviting totally empty -
Image
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Chianti
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Post by Chianti »

Musetta

My god, you;re 1/2 way there, it's such a beautiful and typical East Coast house.

I would work on nice rugs, including sheep skins, classic sofas and chairs, possibly in the Shaker style, stunning, but simple curtains, some decorative pieces, perhaps some flowered wall paper & loads of chinz. I like the style of Colefax & Fowler, it's classic elegance and offers a cosy, welcoming atmosphere. I would pick up some interior design books, or if you want some classic ideas I can photograph some of my books and mags for you.

As for marketing it, have you contacted the hospitals, universities, UN and other large organisations or companies to market it directly for the long term? That's what's known as a company let. A2 may be able to suggest some things, but all of these organisations will have doctors, professors, directors, or employees from their foreign offices who need up market accomodation. The only problem that I know which came with company lets, mainly via the banks was bullying and arrogance from the companies. In other words, you need us more than we need you so take it or leave it. I haven't the slightest idea if you would come across the same in the states.

Good luck I think it's a cracking property :!:

Oh and no flannels.

Chianti without flannels
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Ju
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Post by Ju »

I would say more than half way there, that looks like a great kitchen and those floors are fabulous.
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Partridge
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Post by Partridge »

How spooky Musetta, that's like looking at my floor and wall colouring at home :shock:
Don't waste energy on things you can't change.

Costa de la Luz apartment rental
www.ownersdirect.co.uk/spain/S5386.htm
A-two
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Post by A-two »

Musetta,
Just what I'm looking for! I have a potential booking for you June 4th. They are asking for a recommendation for NYC before transferring to us. Maybe too short notice for you this time, but lots more where this came from. Is this in NJ or NY? Please send me details by email/ PM, then I'll let you know how appealing I think it will be for my customers and what price range they may be willing to pay. I'm not worried about the furniture, it's more the location that is going to make or break it. Thanks
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Post by olive »

Vrooje, what is a "Vessel sink"?
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Post by olive »

Everybody talks about "luxury" linen, but what does this mean in terms of brands? I have just bought some Olivier Desforges linen: the double flat sheet's original price was 75euros and one pillow case was 28 euros. I consider this absolutely exhorbitant but that's what top brands cost in France. Leaving aside what anyone actually paid - and I bought it reduced, of course - what brands do you buy when you promise top quality linen????
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Chianti
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Post by Chianti »

Olive

We use flowered linens instead of plain as they look so beautiful and brands like Sanderson and Bossi, can't remember some of the others.

Although they haven't yet been used in the apartment, I've a couple sets of handmade Tuscan linen towels from Busatti in either lavender and whilte stripes or Tuscan yellow and white which are absolute tops. If we could only offer just these we would, together with sheets and pillow cases of the same material at a real ouch kind of cost.

Chianti without flannel
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vrooje
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Post by vrooje »

Musetta, I agree with everyone, you've definitely got the bones of a luxury rental -- now it's just down to the furnishings! :)
olive wrote:Vrooje, what is a "Vessel sink"?
Hmm, maybe it has a different name anywhere but the US, but here it refers to a sink which sits on top of the counter rather than in the counter, à-la:

Image
or
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NOT
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:)
Brooke
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Giddy Goat
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Post by Giddy Goat »

:lol: :lol: :lol: Love it Brooke!

What a pretty house Musetta - and I agree with Brooke's suggestions re the kitchen and bathrooms. Looks like you're already there with the kitchen!

Keep us posted on what you decide re long and short term. Perhaps A2 can advise as to how wide the season might stretch for holiday lets? I am seriously thinking of not offering long lets again after our last group stayed, and, depending on how many weeks a year you could let it for holiday makers, I suspect that unless you're consistently lucky with your long-term tenants, there will be greater wear and tear overall - though others might see it differently!
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Post by Hells Bells »

We have one of those sinks in our apartment, nice to know what they are called :D
Musetta
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Post by Musetta »

Thanks! you all are the best!

A2 - have PMed you :-)

Partridge - what good taste you have ;-)

first things first (before I start getting all excited about decorating!)...trying to get a hold of someone in my town to find out if I'm even allowed to do short-term lets - lots of laws here in places forbidding it...so...that's the first thing...now, also trying to check out pricing - my mortgage and property tax payments are fairly high - so need to see what I could get per week and see if there's a way for me to be at a break-even point when I add in insurance and utilities and oil.
Thanks again!!!!
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