To Tub or not to Tub? 🧐 🫧
Should You Add a Hot Tub to Your Short-Term Rental?
When it comes to upgrading your short-term rental property, adding a hot tub (or any cool amenity) might seem like an obvious way to attract guests and increase revenue. Luxury amenities can transform a simple getaway into a luxurious experience, and many travelers actively seek properties with this amenity. But is it the right choice for your property? Let’s dive into the pros, cons, and considerations.
The Revenue Potential of a Hot Tub
Adding a hot tub to your rental property can be a game-changer for your listing. Here’s why:
Higher Booking Rates: Properties with hot tubs often stand out in searches, especially in cooler climates or popular romantic getaway destinations.
Increased Revenue: Data shows that listings with hot tubs can earn up to 20-30% more annually compared to similar properties without one.
Off-Season Appeal: Hot tubs can keep your property appealing year-round, helping you fill those slower months.
Guests love the idea of relaxing in a hot tub after a day of skiing, hiking, or sightseeing. If your property is located in a region where outdoor leisure activities are popular, this upgrade could make your listing a top pick.
The Cost Considerations
While the revenue potential is enticing, there are costs to consider before taking the plunge:
Upfront Investment:
Hot tubs can cost anywhere from $3,000 to $15,000 depending on the model and features.
Installation fees, which can include electrical work or deck reinforcement, add to the initial expense.
Ongoing Maintenance:
Cleaning: Regular cleaning and water changes are essential for guest safety and satisfaction.
Chemical Costs: Keeping the water balanced requires a steady supply of chemicals.
Repairs: Over time, parts like jets or heaters may need replacing.
Utility Bills:
Hot tubs can increase energy consumption significantly, especially if used frequently. Expect your electricity bill to rise.
Guest Misuse:
Guests may unintentionally misuse the hot tub, leading to potential damages or higher maintenance needs.
Making the Decision
Here are a few questions to help guide your decision:
Is your property in a competitive market? If nearby listings already have hot tubs, adding one may be essential to staying competitive.
Do you have the time or resources for maintenance? If you’re a hands-off owner, hiring a professional maintenance service may be necessary.
Will the added revenue outweigh the costs? Calculate your expected return on investment based on similar properties in your area.
Find out exactly how much any amenity will increase your listing’s revenue
Here are a few questions to help guide your decision:
Head to Rabbu.com
Click “Data & Tools” in the top right hand corner of the site.
Click “Airbnb Market Data”
Enter the market where your home is located.
Scroll down to “Projected Revenue By Amenity”
There you’ll see the Revenue Without, Revenue With, and the Revenue Delta of the having the amenity in your area.
Watch the video below for more details:
Tips for Success
If you decide a hot tub is the right choice, here are some tips to make the most of it:
Set Clear Rules: Provide guidelines for proper usage to prevent damage and misuse.
Highlight It in Your Listing: Use high-quality photos and descriptions to showcase the hot tub as a key feature.
Invest in a Cover: A good cover minimizes energy loss and keeps the water clean when not in use.
Schedule Regular Maintenance: Consistent upkeep ensures a great guest experience and extends the life of your investment.
The Bottom Line
A hot tub can elevate your rental property’s appeal and significantly boost your revenue, but it’s not without its challenges. By carefully weighing the costs and benefits, and planning for proper maintenance, you can decide whether this amenity is a smart investment for your short-term rental.
Considering adding a hot tub to your property? We’re here to help! At Roav Retreats, we specialize in maximizing your property’s potential while handling the details, so you can relax and enjoy the returns. Contact us today to learn more.
