How To Turn Your Pigeon Forge Cabin Rental Into A Solid Investment
Published Mar 3, 2023
You’ve found the right Pigeon Forge rental property. Now you simply wait for the money to roll in, right? Hold on. While your rental cabin is a smart investment, you need to keep its earning potential solid and reliable with these steps.
1. Market Your Rental Effectively
Your investment can’t grow if travelers don’t know about your cabin! Getting your cabin listed on popular vacation rental websites is essential. You can try listing your cabin yourself or you can partner with Colonial Properties. Our in-house team of experienced marketers knows how to craft eye-catching listings and get them onto the right websites.
2. Set Appropriate Rates
Competitive rates are key to keeping your cabin occupied and your rental income more predictable. Research the rates for similar cabins in the same area as yours. Colonial Properties can do this research for you, keeping up with rate trends so you can adjust rates as needed.
3. Track Your Cabin’s Performance
Owning a cabin rental might seem like a “set it and forget it” investment, especially when you use a property manager. Don’t get complacent. You’ll get better results if you keep an eye on how your cabin is performing financially, so you can make tweaks.
Partner with Colonial Properties for access to our online financial monitoring tools. We update your cabin’s performance data frequently. You always know how your cabin is faring in this bustling rental market.
4. Invest in Upgrades
Visitors can choose from among hundreds of Pigeon Forge cabins. Yours needs to stand out. Consider changes like these:
- Kitchen: Nothing makes a kitchen look dated faster than a range or fridge that’s clearly been around too long. Kitchens are a key reason why many guests choose a cabin instead of a hotel, so make sure your kitchen not only looks great but also is easy to use.
- Entertainment: The best TVs you can afford, plus the most popular streaming services, are now a minimum expectation. High-end cabins are creating movie theater rooms with projection systems and specialized sound systems.
- Added or converted spaces: Can you turn lofts or basement space into game rooms, bonus sleeping areas, or additional living areas?
- Beautiful landscaping. The first thing a guest sees is your cabin’s exterior, so spruce up plantings, walkways, and porches.
Contact us to discover how Colonial Properties helps keep owners’ investments reliably profitable.
