Ever wondered how to make your short-term rental the apple of a road warrior’s eye? No, we’re not talking about leaving fruit in the kitchen (though that’s not a bad idea). We mean transforming your property into the ultimate haven for business travelers.
Buckle up, property moguls-in-the-making, because we’re about to take your short-term rental from meh to marvelous in the blink of a PowerPoint presentation.
The Business of Pleasure
With business travel bouncing back faster than you can say “expense report,” the short-term rental market is hotter than a laptop that’s been rendering video for six hours straight. But here’s the million-dollar question: How do you make your property stand out in a sea of cookie-cutter accommodations?
Let’s break it down, shall we?
Work Hard, Wi-Fi Harder
In the hierarchy of business traveler needs, reliable Wi-Fi sits somewhere between oxygen and coffee. Indeed, 90% of business travelers want access to Wi-Fi in their rooms, which tells me that the majority of business travelers are going to decide how they will fly or where they are going to stay based upon the Wi-Fi situation.
So, what’s a savvy property owner to do?
- Install enterprise-grade Wi-Fi that could handle a small tech startup.
- Provide multiple Ethernet ports for those who like to keep it old school.
- Create a separate, secure network for guests to keep their data safer than Fort Knox.
Remember, in the world of business travel, “buffering” is a four-letter word.
From Bedroom to Boardroom
Your average business traveler spends more time in front of a screen than a teenager during summer break. That’s why creating a killer workspace is crucial. Here’s how to turn that spare room into a productivity paradise:
- Invest in a spacious desk with a view (preferably not of your neighbor’s overgrown lawn).
- Provide an ergonomic chair that says, “I care about your lumbar support.”
- Install proper lighting to avoid the “interrogation room” look during video calls.
- Offer a second monitor setup—because spreadsheets wait for no one.
Kitchen Confidential: The Business of Eating In
Gone are the days when “business dinner” meant a wilted salad from room service. Today’s road warriors want the option to whip up their own culinary masterpieces (or at least heat up a gourmet microwave meal).
A study by Booking.com found that 63% of business travelers will spend extra regarding dining. So, unless you want your guests surviving on vending machine fare, it’s time to channel your inner Gordon Ramsay. Must-haves for your business-class kitchen include:
- A coffee maker that doesn’t require an engineering degree to operate
- A full-size fridge for storing leftover client dinner doggy bags
- A microwave for those “I have a call in five minutes” moments
- A dishwasher, because nothing says “I’m a successful businessperson” like clean dishes
The Future Is Now (and It’s Keyless) for Short-Term Rentals
In the fast-paced world of business travel, waiting for a property manager to hand over keys is about as appealing as a middle seat on a red-eye flight. Enter smart locks: the unsung heroes of the short-term rental world.
According to a report by Grand View Research, the smart lock market is expected to grow at a CAGR of 19.6% from 2023 to 2030. That’s faster than you can say, “Where did I put those keys?”
Smart locks offer:
- Contactless check-in (perfect for the germaphobe executive)
- Customizable access codes (no more “I lost the key” excuses)
- Remote access management (in case of unexpected client dinners)
Baselane: Your New Friend for Short-Term Rental Success
Now, managing all these upgrades and amenities might sound like a full-time job. But what if I told you there’s a tool that can help you juggle it all while sipping your morning latte?
Enter Baselane. This nifty tool is designed to make your life as a short-term rental owner smoother than a freshly ironed dress shirt. Here’s how Baselane can level up your short-term rental game:
- Streamlined Banking: Baselane offers banking services tailored for real estate investors—no more juggling multiple accounts or scratching your head over expense categorization. Plus, with up to market-leading APY on your funds, your money works as hard as your property does.
- Seamless Platform Integration: Here’s the cherry on top: Baselane lets you link your banking directly to popular hosting platforms like Airbnb, VRBO, and Booking.com. It’s like having your own personal financial concierge who speaks fluent “short-term rental.”
- Bookkeeping Made Easy: Say goodbye to spreadsheet hell. Baselane’s automated bookkeeping keeps track of all your income and expenses, making tax time less taxing (see what we did there?).
- Insights at Your Fingertips: Want to know how your property is performing compared to others in the area? Baselane’s analytics tools give you the real-time insights you need to stay ahead of the game.
Fern, a real estate investor, says on Trustpilot: “Baselane solves a major hurdle for real estate investors who want to keep finances separate for each property. I’ve spent a lot of time creating spreadsheets for my properties, but now they’re all organized in Baselane. It’s a game changer!”
Bleisure: Because All Work and No Play Makes Jack a Dull Boy
The rise of “bleisure” travel (that’s business + leisure for the acronym-challenged) is reshaping the short-term rental landscape. A study by Expedia found that 60% of business trips in 2023 included a leisure component.
To cater to this trend, consider:
- Providing local attraction guides (because PowerPoints and pivot tables aren’t the only points of interest)
- Offering fitness equipment or gym passes (for working off those expense account meals)
- Creating a cozy relaxation nook (for when the only merger they want to think about involves their mind and a good book)
The Bottom Line: Investing in Successful Business Travel Short-Term Rentals
As the short-term rental market continues to grow (it’s projected to reach a whopping $20.6 billion in 2025), catering to business travelers could be your ticket to real estate stardom. By focusing on their specific needs—top-notch Wi-Fi, a killer workspace, a well-equipped kitchen, convenient tech, and bleisure amenities—you’ll be well on your way to becoming the toast of the business travel town.
Just remember: In the world of short-term rentals for business travelers, it’s not just about providing a bed to sleep in. It’s about creating an experience that makes your guests want to expense their way back to your place, time and time again.
So, are you ready to turn your property into a business traveler’s home suite home? With these tips, you’ll be earning rave reviews faster than you can say “per diem.”
Now, if you’ll excuse me, I need to turn my walk-in closet into a meditation room/virtual reality chamber/cold brew bar. You know, for the business travelers.
Build long-term wealth with short-term rentals
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.
