Education and news for smart DIY landlords!
As people struggle with housing affordability, the rental market has become more competitive than ever. That said, you need to make sure that your rental stands out. This is where staging comes in. Staging a rental property entails arranging furniture and accessories so that future renters will be able to appreciate the rental.
So yes, staging your rental has many benefits. It:
In today's article, we're going to show you some tips and tricks for staging your rental. Get started right away.
Assign a specific purpose to each room to help tenants envision themselves using it. For example, you could make a home office out of a spare room if you're renting out to young professionals.
This is perhaps the most important tip to remember. Prospective tenants are quick to notice how clean or dirty the property is. Start by noting down the rooms that need attention, especially those forgotten places. There will be items that are hard to clean. It's best to replace them.
Trim the hedges, pull out the weeds, plant some flowers, and install exterior lighting. If you have a spacious balcony, consider adding some furniture to create a space for relaxation. Paint the front door and add a lovely wreath.
Does your rental home have some details that are worth appreciating? For example, a fireplace, great view of the city, or a modern kitchen. You need to highlight these unique features.
Related: 7 Affordable Upgrades That Add Value to Your Rental
Remember that you're renting out your property, not selling it. That means you'll want to spend less for staging it. You could do small improvements for $100 or less. You can get mirrors and affordable accents at discount stores.
Defining your target market is an important tip when staging your rental. Each audience is looking for something specific. Will you be renting out to families? College students? Young professionals?
Staging your rental is worthwhile, but it doesn't have to be a time-consuming and expensive process. The bottomline is that your property should look its best. Doing minimal improvements can do wonders in attracting more renters and establishing yourself as a high-quality landlord!
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first!