Staging can make a rental unit look its best to prospective tenants without the prohibitive cost of a complete renovation. You can hire a staging expert for a small fee to increase the house's aesthetic appeal or go the DIY route. This will allow landlords and property managers to collect higher rent to increase the ROI of the rental unit.
Here are five reasons property managers should use staging when marketing a rental unit.
Decrease the Unit’s Vacancy Rate
When renting a property, the goal is to rent the property fast and find the highest quality of leads. The rent that tenants are willing to pay for a home depends on its looks. Residential property managers can increase their chances of success if the rental unit is staged before listing.
The great idea is to use virtual staging, which allows property managers to make the home look luxurious and extravagant without bringing high-end furniture into the home. The use of high-definition images will help them draw high-quality leads and rent the property faster. They can also post these images on rental websites, social media, and other marketing platforms.
Tenants Need Help Visualizing
It is easier for tenants to visualize their stay at the rental unit if it has been properly staged. A staging expert who knows the ins and outs of staging will know exactly what changes to make so that potential tenants would see themselves living in the home.
During the staging process, all artifacts that belonged to the previous tenants or the landlord will be removed so that the potential new tenants can find it easier to visualize their time in it. This allows the landlord to collect more rent, or at the very least, reduce the tenant vacancy rate.
Most landlords don’t like the idea of home staging because they believe it is an expensive process. While the price tag might look a bit high, the results will speak for themselves. Because you can increase your ROI in the long run, the cost of a staged rental unit will feel lightweight when you start drawing in more high-quality tenants.
The Wow Factor
You can maximize the space and create optimal flow by choosing the right size of the furniture. There is no denying that rental units look more visually appealing when professionally staged. Did you know that rooms can look smaller when they are empty? By hiring a staging expert and using appropriately sized furniture to maximize space, the rental unit will speak to the emotions of the tenants and evoke their desire to sign the lease agreement!
It is important to note that tenants don’t want to feel as if they are occupying someone else’s abode. Home staging services can create a warm and convivial environment by decluttering, decorating, and depersonalizing while neutralizing the owner’s personal touches.
A home stager’s goal is to make the tenant feel as if they are not intruding into someone else’s privacy or home, but rather, make it easier for them to visualize the home. When a rental unit is staged, everyone can relate to it.
Increases the Rental Rate
Tenants are more likely to pay a higher rent (well above the market price) if the home looks properly decorated. It is worth noting that paying upfront to a staging expert may seem a little counterintuitive, especially because there is no guarantee that it will draw more potential tenants and increase the rental rate. However, experts agree that staging a home is a smart move.
By hiring a staging expert, property managers are much more likely to increase the rental unit's ROI, which is a win-win for everyone.
Ready to Hire a Property Manager?
If you have plans to hire a property manager, hiring someone with experience in the local area would be wise. These services can increase your rental unit’s ROI, improve the quality of life for tenants, and relieve you from some of the biggest responsibilities of a landlord. Get in touch with us for more information.