4 Reasons to Stage Your Rental Property
Many sellers are aware that properly staging your home on the market can be beneficial to getting more offers when it goes up for sale. In many markets, however, it can also attract better tenants for renting if you stage your home prior to seeking renters. While many landlords and homeowners do not feel it warrants the hassle for rentals, there are many benefits to enhancing the look of your home to prospective tenants.
Attract Better Tenants
Some renters are looking for an appealing home to live in and entertain guests. They may be renting simply for convenience and they may not be staying in your city long enough to make buying a good option. That does not mean they are not quality people looking for a nice home to call their own while they are here. By staging your home you can instantly appeal to those people who want a nice-looking, appealing place they feel comfortable entertaining guests.
Reduce Vacancy Times
On average, a staged home will be filled in 75 percent less time than one that is not staged and placed on the market. For homeowners and landlords, this means 75 percent less vacancy time. The benefits of the increased income and better tenants will more than make up for the small cost of staging. Additionally, landlords who have staged in the past reported their tenants being better, and more long-term, with staging than those they found without staging.
In terms of home sales, the cost of staging is usually around $550 and the benefit can often net an additional $2,000 at closing. This more than covers the cost of staging! With staging rentals, the upfront cost is beneficial as you can fill your properties more quickly, charge a premium rent and likely keep them there longer. Less turnover and fewer vacancies are always beneficial in the rental business.
Staging a home can greatly increase the marketable value and demand to potential tenants. Stagers are highly versed in knowing how to optimize your space for the most advantageous flow and feel. They are also able to lessen the predominance of the negative aspects of the home, creating an atmosphere focused on the beneficial and positive. A home that is aesthetically pleasing is more likely to be viewed by many clients and can raise your rental price point in the event of high demand and multiple interested tenants.
In closing, the benefits of home staging more than outweigh the hassle and cost. By reducing those vacancies and getting better quality tenants who intend to stay for a longer period, you greatly increase your income. Improve your curb appeal with landscaping and allow a professional stager to add beauty to the interior.