Investing in rental property often centers around favorable attributes such as location, views, and spaciousness. But what if your property lacks any of these attributes? What if your property is small, windowless, and located on the ground floor?
In Spain, for example, such properties are available at a lower cost per square meter, often in the form of converted commercial spaces or garages. Locals don’t want to buy or rent those, which is why the government grants vacation rental licenses more easily.
So, should you avoid them for investment or not? Read along and find out.
The Property and Its Transformation
Imagine a studio apartment on the ground floor with minimal features: a toilet, a tiny kitchen, and nothing else but four walls. Not the best starting point for a competitive vacation rental market.
However, the owner`s innovative approach transformed this basic space into a unique rental that is very profitable.
The door was modified to include a small window, while the bathroom wall was removed and replaced with a full-size bathtub adorned by a window. The main area is dominated by a double bed, a compact kitchenette, and a decor scheme reminiscent of a movie theater or a love hotel.
The Creative Elements That Worked
The transformation was achieved with remarkable creativity, all while adhering to a reasonable budget. They created an ambiance resembling a movie theater, brought to life by the elegance of long red curtains, a projector above the bed in place of a standard TV, and carefully chosen small details that contributed to the overall aesthetics.
The addition of the bubble bath experience ingeniously elevated the property’s allure for a romantic evening.
In addition, by replacing the original kitchen, they made space for a kitchenette equipped with cozy seating areas. This smart move provided guests with the basic amenities, perfect for enjoying quick snacks and light meals.
Enhancements and Potential
While the transformation was remarkable, several enhancements could elevate the property even further.
High-quality photographs taken by a professional photographer using flash (to compensate for the color cast) and wide-angle lenses would make the space appear more inviting.
Additional details like a popcorn machine, stylish popcorn buckets, a wine ice bucket on a stand for the bathroom, and spa-like bathrobes and slippers could amplify the experience.
Replacing the oven with a minibar could bring additional revenue. Artwork that complements the theme, illuminated for ambient lighting, could only enhance the atmosphere.
If you want to create a cinema experience at your property check out my choice below:
Short Throw Laser Projector
Reasons to buy:
- Ultra slim design
- Superior Resolution
- Four different projector sizes
- Powerful 30W Dolby Speakers
More affordable but equally amazing!
- Sharp & detailed 4K images
- Excellent motion handling
- Very good video processing
- Excellent value for money
Lessons to Learn
The reason why I shared this unique idea is not for you to copy and replicate it elsewhere but to draw inspiration. While this idea may not work in other locations, it shows the potential of the smaller spaces.
By presenting your property creatively and catering to a specific niche customer, you will find a guest that values the unique experience you offer.
This case study demonstrates the power of creativity in the world of hospitality. It proves that with bright ideas, attention to detail in execution, and an understanding of your target audience, you can turn limitations into strengths.
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