A horse property is an expensive investment. Aside from spending time and money in maintaining the condition of the infrastructure on the property, you’ll also have to think about the health of the horses. You have to make sure that their stables are clean and that the horses are well-fed and have a sufficient supply of water. This still doesn’t include the necessity to install durable fences to safeguard the horses. Undeniably, a horse property isn’t a one-time investment. But instead of looking at your property as another medium to spend your money on, why not use it to earn instead? If your horse property is situated in a spacious ranch with cottages, consider having it rented out.
Renting out your horse property can be an excellent source of income while making good use of your investment. Instead of having a stagnant investment, you’ll have one that generates steady income. However, having a well-maintained ranch isn’t enough to entice customers; you need to exert time and effort to prepare your horse property before renting out. The following tips can help you do just that:
1. Inspect your cottage
Your guests will be spending most of their time in the cottage. This is where they’ll sleep, have their meals and prepare themselves for the day. Because of the importance of this cottage to your guests’ overall experience, you should thoroughly check it before accepting any guests. This is a must – especially for horse properties with cottages built many years ago.
Start by assessing the condition of your cottage. Are there any roof leaks or clogged drains and gutters? Are there any leaky pipes and faucets? Are the electrical outlets functioning? If certain parts or areas of your cottage like HVAC need replacements or repairs, call HVAC contractors right away. All of your fixtures should be working properly before your guests arrive.
2. Think safety
It’ll be easier for your guests to leave a five-star review on your rented out property if they feel safe during their stay. To ensure that this does happen, make sure that your cottage has working smoke detectors. There should also be fire extinguishers in the kitchen and on every floor of the cottage. When dealing with the exteriors of your property, make sure that the horses are kept in a stable or their habitat is surrounded by fences. Even if guests booked your horse property, they might not have the same fascination for horses as you do.
3. Clean up
Sure, your horse property might be situated in a lush green ranch with an overlooking view of the city but if cleanliness is nowhere to be seen, don’t expect that a single guest will choose you. Guests are very keen on cleanliness – no amount of aesthetic value or cheap pricing can tell them otherwise. If you don’t want your horse property to become a turn off to guests, clean everything. This includes the floors, windows, and blinds in your cottage. Carpets should be shampooed, too. If you want to hide any scratches on your walls while giving it a makeover, apply a fresh coat of paint.
4. Evaluate all of your furnishings and appliances
Keeping furnishings and appliances that are either broken or damaged will only become an eyesore in your cottage. You’ll only be wasting valuable floor space, which you can actually use for additional amenities. If you’re planning to provide a well-furnished home to your guests, make sure that everything is in perfect working condition. You want to provide convenience to your guests while they’re staying in your cottage, not burden them by forcing them to use a broken knob on a stove.
5. Set a competitive price
Renting out horse properties and ranches are no longer unheard of today. Do a quick search online and you’ll be bombarded with horse properties that look and offer the same accommodation as you. Since you’re still a neophyte in the business, you should pay attention to how the competition is setting their prices. This information will help you determine what price is too expensive or too cheap for the market. As a result, you’d know how much you will charge your guests for their accommodation.
6. Screen tenants carefully
Most often than not, your horse property is your most expensive investment. You might have saved for years just to afford buying it. And although it might be tempting to open your property to every single human being in your city and nearby cities, don’t do it. Allowing anybody to stay in your property might adversely affect the condition of your property. These people might even harm your horses – and you don’t want that to happen, right?
Be careful about who you let in your horse property. If possible, only accept guests who you personally know or those recommended by your friends and family. You can also accept guests as long as they go through a certain screening process. You can have them fill out a form that requires their basic information or ask them to pay for a deposit once they arrive. No matter how you screen your potential guests, just make sure that they also know why you’re doing all of these.
Small Details Create Big Impacts
Renting out your horse property can be beneficial for you and the guests – you’ll have another avenue to make money while guests can experience a unique accommodation. But just like any other business, you’ll only achieve success when you take the time to address and prevent problems. Always keep a watchful eye on the condition of your horse property – after all, this is still your investment.