How to Increase Rental Income with Murphy Beds
Summer is here, so naturally everyone’s minds are on one thing: vacation. This means that anyone desperate for a getaway will be clambering to find their perfect holiday location — and what comes with that, of course, is finding the best place to stay.
If you have a listing on VRBO or AirBnB you know how important the summer season is for rental opportunities — whether it’s families with kids off from school, coworkers looking for a quick escape from the office lifestyle, or friends just looking to get out of the city for some fun.
But what comes with being a host is discovering new ways to improve your rental home through various cost-efficient solutions that will inevitability help raise your listing price.
The solution? Murphy Beds.
More bedrooms, more guests
When people travel and are considering different accommodation options, one of the first things they think of is sleeping arrangements. This can be a determining factor on whether your rental is even listed in a search (considering that guest total is one of the first prompts on any rental website like AirBnB).
Travelers in larger numbers are a major contributor to the rental market, and Murphy Beds can ensure that your place welcomes any and all groups as necessary.
Let’s say that your listing has a master bedroom, an office, and a living room with a pullout couch. A Murphy Bed could easily fit in the office and/or in the living room to add another sleeping area. This could help bring in more guests, and allow you to raise your prices accordingly.
Simply put: more beds = more guests = higher listing price.
Plus, you can customize your Murphy Bed to fit in each designated area of your host house. You can learn to customize your Murphy Bed online in this blog post that provides step-by-step guidelines!
Increased storage options
Storage is a notable part of travelling, especially when you’re vacationing with a larger party. There are plenty of groups whose storage needs can significantly impact where they choose to stay:
- Families that need separate areas for everyone’s clothing, bathroom items, hobbies brought from home, etc.
- A groom or bridal party needing to store their many props for their nights out
- Groups travelling with babies or elderly individuals who require special items that can take up space if left out in the open
This is where storage solutions become a lifeline, and where Murphy Beds save the day. With the numerous cabinets and drawers imbedded in a Murphy Bed’s frame, there are plenty of nooks to perfectly accommodate the heavy packers.
And with the added space thanks to the Murphy Bed’s easily retractable frame, more external storage areas — like cabinets, ottomans, or dressers — can be added. Not to mention that Murphy Beds can come in many cabinetry styles, finishes, colours, and hardware elements that fit your rental aesthetics.
(Learn how to choose the right Murphy Bed.)
This can be a huge sell for many guests travelling in large parties, making your listing all the more popular — and higher demand means the ability to charge more.
Space for amenities
Beyond simply sleeping areas and storage, guests examining the rental market will always look for places with the best amenities.
Although it’s the summer, there are many people who may still travel for work, and amenities like a desk can be a tremendous pull for them.
In a smaller household, a Murphy wall can store extra kitchen items for the cooking aficionados, board games for the competitive bunch, speakers for the music lovers, extra pillows and blankets for the comfy crowd, and so on.
If you’re interested in giving your rental listing the price, quality and customers it deserves, check out our Build-A-Bed app to test design some Murphy Beds in your rental home, or give us a call to get first-hand assistance!