A luxury home has many benefits, including comfort, style, and prestige. However, it can also be a significant investment, with maintenance and upkeep costs that can quickly add up. One way to make the most of your investment and add exponential value to your home when looking to sell is by renting it out for photoshoots and event hire. In this article, we explore how renting your luxury home at an hourly rate can add value and provide tips on how to get started.
Whether for weddings, corporate events, or product launches, there is a growing demand for unique and stunning event locations. In fact, the Gold Coast and Northern Rivers have some of the most design-worthy homes to hire, which create business-like income streams where brands create content with the home as the backdrop, thus creating more publicity and demand for the location. Additionally, by renting your luxury home, you can provide a one-of-a-kind setting that will leave a lasting impression on clients, potentially leading to repeat business and referrals. There is a big demand for resort-style pools, Palm Springs-style landscaping, and white settings where multi-layered materials are used within the architecture, particularly when considered luxurious and unique.
Here are some tips on how to rent out your luxury home for photoshoots and event hire:
1. Create a dedicated space for your business if you plan to rent out your luxury home. This could include a separate entrance for clients or a designated area for event set-up. You may also need to make changes to your home to make it more suitable for commercial use, such as installing additional lighting or sound systems.
2. Determine your rental rate. When determining your rental rate, it is important to consider the value of your home, its location, and the amenities it offers. You should also research the local market to see what other properties charge for similar services.
3. Market your business effectively to attract the clients you want through. This could include creating a website or social media accounts to showcase your home and its potential for events or photoshoots. You could also contact event planners, photographers, and other professionals to promote your business.
4. Provide exceptional service. To ensure repeat business and positive reviews, you must provide outstanding service to your clients. This could include ensuring your home is clean and well-maintained, providing excellent customer service, and meeting your client’s needs.
5. Before renting out your luxury home, setting clear terms and conditions is essential. This could include rental rates, deposit requirements, cancellation policies, and any rules or restrictions regarding the use of your property.
Infinity, Byron Bay