Did you know that a staged home sells an average of 80 days faster than a home that hasn’t been staged? Did you know that staged homes also sell for about 17% more than those that are not? Staging a home, or arranging it with furnishings and accents to make it appear lived-in, is a popular tactic and one that real estate agents everywhere tend to invest their time and money into. So, the logical thought is this: If staging does so much for selling homes, why can’t it do just as much for renting?
Imagine walking into a unit on a property from which you’re interested in renting. The unit is empty. There is nothing in the rooms except open space and bare walls. While some managers make the mistake of thinking that open space is a blank canvas for a prospective renter to view their future, this is most often not the case. A prospective tenant may, in fact, find him- or herself overwhelmed at the very thought of trying to image how furniture will fit and how certain things will look.
Now, imagine walking into a unit that is moderately furnished and arranged to look as though it is lightly lived in and every space has a well-designed purpose. You can see how large a bed can be to fit in the bedrooms, get a feel for the living room space and how well your stuff will “go,” and you’ll even get a feel for color palettes. This is because staging does two things:
- Helps prospective renters see all that is possible in the space
- Allows the manager to accent features you want to stand out while minimizing those features that aren’t as desirable
Want to move units quickly? We’ve got a strategy for that. Here’s how you can do it right:
- Find the Space. It may not be economical to bring in a staging crew and materials for every open unit you have. In these cases, try to reserve one unit specifically for the purpose of staging it for prospects. Many managers use the staged unit as the office if there is not an actual office space on the property. Either way, you can always look into writing a staged unit off as a marketing expense.
- Rent. If you do have the ability to stage individual units, renting furniture may be your best bet. This way, you have a great, modern design only for the exact amount of time you need it. As an added bonus, many rental stores deliver.
- Invest. If, on the other hand, you’re looking for a longer term solution, remember that you don’t have to buy brand new, brand name furnishings. Lightly used and well taken care of items will definitely suffice. So, keep your eye on Craigslist and any area Buy-Sell-Trade Facebook pages where people tend to list some very affordable furnishings.
- Mind the Color. To get the most from staging, you need to pay attention to color schemes and design. Just because you may be getting a couch from Craigslist and chairs from the newspaper doesn’t mean you can just throw whatever into the space and produce a hodge podge layout. The power of staging comes when you’re able to make the unit look its best. Develop a color and/or theme for each room and make sure to stick to it with complimentary items.
- Watch for Details. Throw pillows, window coverings, art work, and a small number of knick knacks should all be on your list. But, again, don’t go broke over the details. Some of the best stores for highly desirable home décor that won’t break the bank include Home Goods, Marshalls, TJ Maxx, and Target.
Rather leave it to the pros? We love staging. We love getting the properties under our management to occupancy even more. Contact us today to see how we can work together. Call 817.284.1411 or email us at .