Please share your thoughts…
I did an extensive update on my one BR condo. Although it has a queen bed & queen sofa-sleeper, I reduced the maximum number of guests from 4 to 2 and increased the price. It stayed booked almost continuously from January - November. This winter at the end of the rental season, I had almost NO repairs to do. I did the semi-annual deep clean & replaced a couple of light bulbs but nothing big. In prior years, there were multiple expensive repairs needed due to wear & tear (not malicious).
My two bedroom condo had a maximum occupancy of 6 (1-king bed, 1-queen, & 1 queen sleeper sofa). This year multiple repairs were needed including the sofa bed mechanism is bent and will not fully open. I’m taking a new path. I’m not going to repair it (I don’t have the money right now). I’m changing maximum occupancy to 4 and I’m increasing the rate.
My market is budget conscious beach /golf area vacationers families or couples. I’m thinking by reducing my maximum occupancy I will get more adults & fewer children.
What do you think? Will my experience of better rental revenue with less damage for the 1BR condo translate to the 2 BR condo? Or will the less heads in beds result in fewer rentals?