The short-term rental market or Airbnb is booming in the Dominican Republic. Local and foreign investors are tapping into this lucrative market. If you are a foreigner considering getting into the Airbnb game in the Dominican Republic, here are some essential tips to ensure success:
1. Invest in quality furniture and appliances
Homeowners prioritize purchasing lower-priced furniture and appliances to keep initial costs down. While you don’t want to overspend, you also don’t want to sacrifice quality. If the deciding factor in purchasing an item is price, you will have to deal with frequent replacements and repairs, which means more expenses. You can’t rent out your place if you’re replacing and repairing things in your unit, which will cost you rental income.
Focus on the long term and invest in quality furniture and appliances that can withstand the wear and tear of constant use.
2. Use smart locks
Traditional keys have their drawbacks: guests can lose them, duplicate them, or forget them. The solution is the use of smart locks. These devices allow hosts to change access codes remotely, ensuring security and convenience. Whether for guests, housekeeping or maintenance staff, digital locks streamline check-in and maintenance processes, eliminating the hassle of physically handing over keys.
With so many travelers working remotely, a strong, stable Wi-Fi connection isn’t just a luxury; it is a necessity. Many guests, especially business travelers, depend on reliable Internet for tasks such as video conferencing, VPN connections, etc. While high-speed options like 300 megabits per second seem excessive, it is advisable to offer at least 50 to 100 megabits per second. At this speed, you can accommodate multiple guests in your unit and they must all connect simultaneously.