Advice on how to operate my first Airbnb condo unit

[Leon Lee]

Hi, fellow investors

I have been an investor for 4 years and recently I purchased my first airbnb condo unit. I feel a little scared but at the same time excited, as I have been wanting to try this model for a while but did not start till now.  I wonder whether I could get some advice on how to operate this unit, so that once it is closed, I could move quickly to next stages. 

Basic information of the unit: high-rise condo, 1be/1ba, 630 sqft, no short-term rental restrictions

Targeted customers: younger customers who are here for main tourists attractions, as the unit is walking distance to major attractions in the city

Scenario #1:

1. Remove the carpet and refinish and stain the tile hardwood floor under the carpet into coffee (or slightly lighter) color
2. Replace the kitchen countertops into white granite countertops
3. Lower the breakfast countertop and replace it with a larger white granite countertop (with possible two extra legs), making it an eating area.
4. Paint the kitchen cabinets into white, replace handles into stainless steel handles with simple geometry
5. Replace all appliances into stainless steel appliances
6. Replace all furniture to more modern, light- or wood colored furniture
7. Paint the wall into Silver Ash GR-W11
8. Have a virtual fireplace as the TV stand

Scenario #2

1. Changes all the steps in scenario #1
2. Open up the kitchen completely, remove the coat closet and make the kitchen and living room one room.
3. Put an island between kitchen countertops and living room.

Which model in your opinion works better and why?

I heard that recently the quality of airbnb customers is worse as there are more people using airbnb for parties. So, I would like to improve the condition of the place if possible and use higher prices as one of  filters. 

Any opinions/suggestions will be appreciated!

Lee

[Julie McCoy]

Originally posted by @Glenna Wood:

Decent hardwood will easily cost twice the price of a quality LVP. Your guests won't care if it's "real" hardwood or not. Most hardwood is engineered and thus not "real" anyway.  You may not like walking on it but would your guests really notice? Replace all the flooring with a good LVP in a lighter color. You won't regret the durability. Taking down the walls to open the kitchen and putting in an island gets my vote. But the driver should be the return on your rehab costs. Enjoy the remodel! You've obviously put careful thought in it. Best wishes.

I second this.  Even the luxury vacation rental properties I sell in the Smokies have LVP in them - guests beat things up too much for hardwood to make any sense (the older properties that do have hardwood generally have awful-looking floors after several years of hard use).  Nobody's going to complain your floors were LVP instead of hardwood.