Tag: luxury rentals

You Can’t Call Yourself a Luxury Rental Unless You Have These

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SaffronStays Glasshouse Celeste in Ranikhet

In the past, there was just one choice that catered to the luxury travel market — upscale accommodations that were also expensive. The game has changed today. This new generation of travellers is increasingly choosing vacation rentals over 5-star hotels due to the growing popularity of luxury rented homes.
But what precisely can homeowners who rent out their villa for vacations do to make their house more inviting to the more affluent travellers? We have compiled a list of amenities you can add to your vacation home that will make your home a luxury rental villa.

1. Quality Air Conditioning

SaffronStays Athaang (Tarang), Dapoli

An ideal room temperature allows guests to unwind and enjoy their stay in your holiday rental home. To guarantee the best possible stay for guests, ensure a thorough check of the AC units following each guest’s departure.

Functional and Fully-equipped Kitchen

The Amlyn, Manali

Although guests are not permitted to use the kitchen at our villas, having a fully working, contemporary kitchen with high-quality appliances and utensils is a must for a luxury vacation rental. 
It is convenient simply because you won’t have to eat out or buy these essential supplies. Also, you can enjoy the authentic local cuisine cooked by the in-house chefs giving you the perfect home-cooked food vibe.

Family-friendly and Pet-friendly Amenities

SaffronStays Minerva, Alibaug

Updating your home with luxury vacation rental facilities and making it family-friendly and pet-friendly will make it a favourite among guests scouting for a luxurious place to stay for their holiday.
You could make a modest welcome basket for your guests’ pets, complete with goodies and toys for their furry pals. After the visitors have left, be sure you tidy up all the toys.

Lux Toiletries

Toiletries at SaffronStays villas

Guests expect these in hotels but not in a vacation rental. So, ensure you provide branded shampoos, conditioners, lotions, disposable razors, shaving cream and so on. Your guest will surely be delighted. You can amp up the luxury with ‘spa’ products such as face masks, bath bombs, essential oils, etc. 

Home Gym

SaffronStays Juniper, Lonavala

Is there no workout zone or gym? No worries. For your energetic guests, you can easily replicate a gym experience. Install a huge mirror, keep yoga mats handy, and a smart speaker and your guests will be more than happy. Want to go even higher-end? You can consider purchasing larger exercise equipment, such as an exercise bike or a treadmill.

Modern TVs and Entertainment Streaming Services

SaffronStays Casa De Familia

To ensure the maximum service level, equip your home with numerous TVs, streaming services, and different channels. Investing in a cable TV package that can be viewed on your smart TVs is the most excellent way to impress your visitors and add to the luxury of your holiday home. When selecting the best smart TV, go for newer models with large flat displays and 4k resolution.

High-speed Wi-Fi 

SaffronStays Nandanvan, Kodaikanal

High-speed Wi-Fi is a necessity nowadays. Unless you plan to provide a particular off-the-grid no-Wi-Fi lodging, your guests will expect it to be a standard feature of your vacation rental. With work from home and remote jobs still a practice today, your guest will be happy to notice fast-working Wi-Fi in your home. 

Workspace and Office Supplies

Make your vacation home remote work friendly
SaffronStays Odeon, Khandala

With the development of remote employment, it’s usual for visitors to travel with their computers. Make a place for them to make video calls, respond to emails and work. Consider a peaceful area upstairs or repurposing a large walk-in closet. Then, supply all of the amenities of a home office, such as an office chair, sticky notes, pens, paper and notebooks.

Premium Bedding and Comfortable Mattress

SaffronStays Gardenia, Kihim

Nothing encourages comfort like high-quality mattresses and a good cotton bed set. Make sure your home has a variety of pillows so your visitors may select the one that best suits them. Bedding wears out quickly, so invest in high-thread-count sheets and additional pillows, throws, and blankets for luxury comfort and long-term savings.

Porch or Balcony or Verandah

SaffronStays Verandah by the Valley, Panchgani

A porch, balcony, or verandah is an excellent addition to any holiday villa. Not only may your guests appreciate the view, but they can also enjoy the fresh air and beautiful views without leaving the premises. Consider adding flowers, soft wraps, cushions for the chairs, and fragrant candles to create a relaxing zone.

Indoor Fireplace, BBQ grill

SaffronStays Elysian, Dehradun

Nothing compares to spending a cold evening curled up by a fireplace with a bottle of wine. It’s the best setting for unwinding! Including a fireplace in your vacation home is an excellent approach to showcase your luxury getaway and attract more guests by promising a high-end holiday.
If your rental home already has a fireplace, make it more attractive by adding plush cushions, a faux fur rug or skin, and a modern low coffee table in front of it. Furthermore, if your outside space is large enough, try adding a fire pit, a BBQ grill and a vast eating zone with a large table that can accommodate many people. 

Pool or Hot Tub

SaffronStays Glistening Waters, Nashik

Pools and hot tubs are essential luxuries at either a vacation rental or a hotel, and they can quickly boost a home from standard to exceptional. Guests looking for a luxurious holiday generally opt for accommodations with a pool or a hot tub. Whether or not your home is near a beach, many travellers book villas with a private pool so they can enjoy themselves without being surrounded by a mob of people. Nowadays, privacy is a luxury, and guests will appreciate your posh getaway with these added conveniences.

These luxurious vacation rental features will elevate the visitor experience to new heights. The luxury villas at SaffronStays have amenities so our guests can spend time with their families and do things their houses do not provide. We provide farm-to-table cuisines from an in-house chef, sparkling pools, impeccable service, bars and wine cellars, an equipped kitchen, a work-from-home station, and many more amenities to keep you coming back for more.

How to choose your vacation rental partner?

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Everyone assumes real estate investments are just transactional, but that cannot be any further from the truth. When someone picks a property to invest in, they consider many factors and only invest if they can see themselves using it one day. 

In India, the trend of investing in vacation homes is slowly picking up, not just for personal use but for investment too. People are finally coming around to the fact that long-term vacation rentals are here to stay and you can make a good ROI from this industry. But most of them also want to preserve the property well to enjoy it for personal use again.

So how do you ensure that your vacation home fetches a good return over the years while being in good enough shape for you to enjoy it later? By picking the best vacation rental partner possible. 

It is definitely harder than it sounds, and that is why the SaffronStays team brings you their insights on picking the right vacation rental partner. 

3 things to consider when you choose your vacation rental partner

The right vacation rental partner can help you skyrocket the earnings from your investment and also ensure your home gets the love it deserves. Property management and being a Home Owner can usually be a challenging job, but not if you have the right partner. 

So how do you pick the right one? 

1. Compatibility with your goals 

Yes, this is the first step. When you choose a vacation rental partner, the pros and cons can be overwhelming. Every major operator has their own strength and expertise, so how do you pick one? 

As a Home Owner, you have to put yourself first and understand what you want your property to be in the vacation rental business? Is it a property for teenagers to bunk in, or are you looking for exclusive luxury clientele? 

Does the vacation rental partner have expertise with the kind of clients you want to attract? Do they know how to maintain homes similar to yours? And finally, are they the kind of brand you want to associate your home with? 

Compatibility is important. Only if you have the same goals in mind, can the partnership be successful. 

2. Location specific services 

Usually, vacation homes succeed because they are in the right place at the right time. The industry has a popular saying that real estate sometimes is just about location, location, and location. 

Now we trust you are a smart Home Owner and have invested in the best location to get a good ROI. To make the best of this, you need a vacation rental partner who knows how to sell in that location. 

The company should ideally know the best seasons, the best agents, and how to market for that particular location. That makes it easier to find customers and maintain a steady-state of revenue. 

So, analyze if the rental partner knows this location by checking their past records in a particular geographical location. 

3. Established brand

Small businesses are great, but in the vacation rental business, experience is good. This is an industry where you need people who know what to do and get it done. Protect your investment, so looking for established brands to partner with is a good idea. 

But what to look for in a brand to know if they are the right fit? 

  • Check social proof on online platforms to see what guests and other Home Owners have to say about them. Check social media groups and forums to dig deep. Guest experience counts too because it shows the brand’s capabilities. 
  • Understand from them what their marketing strategies are. Do they have a dedicated team in place to bring in leads and convert them? Will they take care of listings too? Pick a team that has a plan in place for end-to-end services.
  • Most importantly, what are their property maintenance credentials? You need someone interested in property upkeep too and has an in-house team for accountability. 
  • What are their financial commitments in case of payment defaults, damages, and so on? A transparent term will tell you all this upfront. 

You will be handing over your home to this vacation rental partner, so take the time for a thorough check.

Looking for a trusted and transparent vacation rental partner? Connect with us at partner@saffronstays.com, and our team will be happy to assist you ahead. 

3 Criteria That Identify Your Home As A Luxury Rental

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Do you have a holiday home that you want to monetize? Are you looking to enter the holiday rental business but not sure what the right approach is to improve your returns? Well if you truly want to stand out in the crowd, then all paths to that destination are in the luxury holiday rental business. 

Did you know that according to some studies, 48% of families would rather spend a higher amount on nicer and luxurious accommodations, than pick something mainstream? In fact, as the holiday rental segment started focusing on recovery, it was “unique stays” that led from the front. 

So now you know what customers want from a holiday rental, but how do you achieve that? Terms like “unique” and “bespoke” can feel very subjective. But one thing’s for sure. The current travelling industry has more customers seeking luxury than ever before.

To become their choice, you must transform your holiday rental into a luxury rental without a doubt. 

And to make that process easier on Home Owners, SaffronStays brings you a guide on “must-haves’ for an uber-luxury rental. 

Let’s dive right in. 

Must-Haves for a Luxury Rental Home 

So how do you ensure that your holiday rental is booked throughout the year? Considering travellers truly want to choose longer stays in non-hotel properties, this is the time to make it happen. Having these amenities and features amp up your chances even more. 

So what are they?

1. Luxurious Comfort

You can only think of luxury when you have the comfort handled. And in a luxury rental, your guests will expect the comfort to also come with a layer of luxury. So this means every small and big decision you take must be from this lens :

  • Choose super soft and sturdy mattresses that can rival any 5-star hotel with uber-luxurious bedding with a higher thread count of the most comfortable yarn.
  • Ensure you have a well-equipped kitchen with an espresso machine, microwave oven, toasters, and a sophisticated cooktop in the least. A barbecue equipment will be the cherry on top for someone looking to enjoy the stay with a large group.
  • Speaking of large groups, guests travelling with teams, friend groups, and families would want to host movie nights or game nights, so stock up the entertainment centre. 

Acoustics, comfortable seating, mood lighting, and state of the art TV equipment are something you need even if you don’t splurge on gaming consoles. Do not forget that high connectivity Wi-Fi is important for anyone to enjoy these. 

2. Water Features 

When someone steps into a luxury rental, they expect you to wow them. Guests are looking for features and perks that they otherwise would be hard-pressed to find at their homes or even the best hotels. 

Water features like Jacuzzi, hot tubs and an infinity swimming pool fit nicely into that bill. A night-time pool party, secluded dips in the morning, and a fun time in the water with your family are things that sell out your home throughout the year. Add a fountain if it suits the architecture and your budget. 

Everyone wants the luxury of nature without having to step out of the confines of their amazing luxury rental. Give them that with exotic water features. 

3. Stylized Interior 

Do you love going to be a themed restaurant where the decor and the cuisine match? Would you agree that it significantly improves the experiences? Take that yes and double them up to know what can step up the guest experience at a luxury rental. 

People like to be a part of something special, play a role in a story, and indulge in something they believe is one of a kind. And a stylized themed interior makes them believe that your luxury rental home can do that for them.

  • So pick a theme for your interior design and ensure the home has consistent decor throughout. 
  • Use statement designer pieces to accent the spaces
  • Pick luxury paint and wall cladding finishes
  • Do not forget to transform the outdoors to match the interior decor’s theme as well. 

Now that you have what it takes to create a luxury rental home, you are ready to make it happen and join the market. Want help in making the most of your luxury rental home? Talk to our team today!

Drop a line at partner@saffronstays, and we will take it from there! 

Why Minimum Guarantee Is A Good Proposition On Paper But Hurts Your Home

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The Indian real estate industry is perplexing for Home Owners right now. On paper, it looks like a seller’s market with property management firms, high-paying renters, and hospitality firms knocking on their door all day, literally! But, no one seems to be becoming any richer, new companies are going belly up, and the market is just not stabilizing. 

So what is a Home Owner to do? What are their options in making the best choice for their property – in the long term and short term?

We know the turmoil you are in, and that is why SaffronStays is happy to step in and bust some myths about the market – that taking minimum guarantees is the best choice you can make in a fluctuating real estate market. 

If you are a Home Owner and looking to rent out your property, you may have heard the term ‘Minimum Guarantee’ crop up in various discussions. What does it really mean, and why are we suggesting that is not the best road to take? 

What does Minimum Guarantee mean in the long-term vacation rental business? 

Before we tell you why you should not opt for it, let us understand this term. When an operator or a property management firm comes to secure your property to sublet, they assure you a minimum guarantee. Usually, it is just one part of the whole financial deal. 

This means that no matter what happens in the market, you will get an assured sum. Usually, they offer this for the first few years claiming that the property needs to stabilise and they are protecting your interests. 

“Minimum guarantee became the norm when large venture capitalists started pouring their money in hospitality startups to create supply. They hoped to build large brands with a large supply that will eventually generate enough demand to cater to the minimum guarantee requirements,” says Deven Parulekar, Founder, SaffronStays. 

Since most Home Owners are apprehensive of market fluctuations and seasonal demand in the long-term vacation rental business, they take this deal. 

This seems like a huge win: the property is in the hands of a seasoned team, you do not have to worry about demand generation, and there is money in the bank. 

But is it really practical? What is the hidden text causing so much turmoil and uncertainty in the hospitality sector? 

Pitfalls of Minimum Guarantee deals 

While minimum guarantee deals look great on paper and like the ROI you deserve, there are a few issues with this proposition. 

  • It creates a tussle between the operator’s welfare and the Home Owner’s interests

When hospitality startups or even property management firms want to expand aggressively with multiple minimum guarantee deals in their kitty, it makes them a little desperate. The brands scramble to ensure that they can meet their financial commitments instead of working for your welfare. 

For example, brands that have too many properties in a particular area distribute the demand in a way to fulfil their minimum guarantee commitments. So, this means that the minimum guarantee becomes the most you will ever earn because the operator is not even working on filling your property. 

  • It exploits the property 

Minimum guarantee is a deal characteristic of the hotel industry. And it makes sense there because a good operator can host corporate events, marriages, and offer bulk corporate deals to make ends meet. 

But a home deserves a little more nuanced approach to maintain its charm and keep it running for longer. When you enter a minimum guarantee deal like a hotel, you open your home to exploitation, damages, and reducing valuation rates. 

  • Minimum guarantee deals do not fit the luxury segment 

When you want your home to be a luxurious long term vacation home, you need a team that worries about its long-term upkeep, the clientele they bring in, and their ability to treat it well. If you have a minimum guarantee deal in place, the operator is most likely to care about quantity rather than quality. 

This means your home will not be the luxury vacation rental you want it to be catering to a discerning clientele. And you are most likely to be lost in the crowd and not survive long term either. 

  • Minimum guarantee is not sustainable 

The luxury vacation rental business is seasonal but pays well if you position it right and work on it during the peak season. But what happens in minimum guarantee deals is that the operator is under pressure to deliver throughout the year. This makes it an unsustainable business and may even drive the operator into losses. You want an operator who can stick with you for the long term, not someone who makes promises they can’t fulfil. 

So, all in all, minimum guarantee deals have to be seen as the lose-lose deals they are. Neither can the operator work on delivering quality, nor does the home get the attention and love it deserves. 

What can you do instead? 

Now comes the question – what can Home Owners do instead? What is a good way to lease their luxury properties for long-term vacation rentals? 

We strongly recommend entering into a lease agreement with the operators instead of working on minimum guarantees. Even though this will be less than the touted minimum guarantee, it delivers on your ROI expectations fairly and lets them focus on quality instead of running behind quantity. 

This way, you have an assured income, a strong lease agreement, a team to maintain the home, and the guarantee that your home is protected against exploitation. 

And if you are looking for a team to work with you on this, reach out to partner@saffronstays.com. We would be happy to assist you.