Staging a rental is one of the best methods of ensuring that you will find a suitable tenant quickly and easily. Rentals have become big business within the real estate industry, with both residential and commercial units bringing in serious commissions for rental agents. Using home staging techniques in any type of rental unit sets the ideal atmosphere to welcome prospective tenants and reduces the time it takes to sign a lease in order to maximize landlord profitability.
This commentary explores the benefits of using home staging to enhance residential and commercial rental units prior to leasing.
Staging a Residential Rental
Most rentals are not staged, but this fact is beginning to change. High-end luxury residential rentals have long been professionally staged and may even come with the option of renting them fully furnished. Now, other landlords and management companies are taking a cue from these luxury units and are staging even more conservatively priced apartments, as well.
Offering an apartment fully furnished is quite profitable, since the furnishings will typically be paid off in a year to 18 months and after that, the extra income is all profit. This is an excellent option for tenants who are signing at least a one year lease and is especially beneficial for multi-year leases.
Staging a Rental / Commercial Rentals
Commercial property staging is a specific niche sector of the real estate enhancement industry. Commercial staging has also been used for many years to facilitate the easy rental of high-end properties in urban areas. Now, many smaller and more moderately-priced commercial spaces are also staged, to encourage tenants to see the real value of a property.
Commercial spaces are not very appealing when they are empty and vacant, but can be made to seem more functional and aesthetic with a few simple staging designs implemented inside. Commercial real estate staging is especially useful in preparing retail locations, restaurants and office spaces for rent.
Advice on Staging a Rental
As previously mentioned, a fully furnished space can be rented as-is for a much higher price. This arrangement can benefit both the tenant and the landlord. The longer the tenant stays in the unit, the more profitable the furnished arrangement becomes. Even if the tenant is not interested in the furnishings in a residential or commercial unit, they can still be saved by the landlord or management company and used to stage other units, as they become available for lease. A one time investment in reusable furnishings can save huge amounts of money over time in the form of furniture rental and art rental fees.
To learn more about staging any type of rental property, speak to a qualified home stager today.