Maximize Your Property’s Appeal with Smart Staging
Investing in a rental property can be a great way to generate passive income while owning an asset that increases in value over time. But here’s the thing – the rental market is incredibly competitive, and bringing in regular rental income isn’t without its challenges.
Even though you may have a great property location and all the right features to attract more interest, the value of your rental is often subjective based on a number of factors. Still, one of the most effective ways you can make sure your property stands out from the rest is how it’s staged.
Many best practices for staging are universal, whether you’re preparing your property for short-term, mid-term, or long-term renters. Below, we’ll cover some important steps you can take when staging your rental property to ensure maximum engagement and interest from the market.
Do a Deep Clean and Declutter the Space
There is little point in staging your rental property until you’ve taken the time to do a deep clean and declutter all spaces. This gives you a blank canvas to work with and will make all the difference in helping to highlight all the features your property offers.
If your property has carpeting, invest in a deep cleaning service to help restore the carpets to near-new condition. You should also make sure all windows, tile flooring, appliances, walls, and ceilings are cleaned thoroughly and repaired, replaced, or painted as needed.
One of the benefits of doing a deep cleaning on your property is that it also helps the space smell better when people enter. This gives a great first impression that impacts multiple senses and welcomes prospective tenants or short-term guests to the property.
Use Neutral Colors
You’ll want to think carefully about every design modification and color choice you use throughout the property.
Color psychology is an important element of interior design and can make a difference when creating an appealing space. In most cases, choosing neutral colors is the safest way to go when staging a rental property. This includes using colors like white, beige, or light gray to help keep the space clean but not “too loud” for certain tenants or guests.
It’s also important to depersonalize a space as much as possible when staging it for rental opportunities. This means removing any personal items like family pictures or other memorabilia so it’s easier for interested individuals to conceptualize feeling at home in the living space.
Choose Optimal Furniture and Layouts
Although everyone has their individual tastes when it comes to the type of furniture they use in their home, it’s important when staging a rental to think about who your ideal tenants and guests are. This is especially the case if you’re providing a furnished property rental and your tenants will be using the furniture or the design layouts you provide.
Just like choosing color options for the rental, be sure to make more neutral choices in the furniture design and arrange it in a functional and inviting way. Think about how your guests or tenants are likely to use the living spaces or communal areas, and make sure there is enough space to navigate through areas without feeling too cramped.
Invest in Strategic Lighting Choices
There is a reason why lighting is a critical element used in the film industry. Lighting choices can dramatically impact the overall ambiance of a space and can completely change how videos or images appear when showcasing a property. As a rule of thumb, using natural lighting whenever possible to stage a rental property is the ideal way to highlight a property’s key features.
Of course, natural lighting isn’t always an option, especially when renting out basement suites or when living in areas known for inclement weather. In these cases, incorporating LED lighting with temperature controls and other smart-tech features lets you create the exact lighting you need to create a more welcoming environment for tenants.
It’s important to make sure you strike the right balance when it comes to the brightness and warmth of different spaces throughout the property. You want to stage your rooms with enough lighting for guests to enjoy the property or tenants to see everything on their walkthroughs properly, but you also don’t want the lighting to be so harsh that the space feels uncomfortable to be in.
Pay Close Attention to Kitchens and Bathrooms
If your staging budget is limited, you’ll want to make sure you’re investing your time and resources in the right places. Kitchens and bathrooms are typically the largest focal points for potential renters, so it’s important to make sure you’ve budgeted enough to stage these areas the best you can.
Everyone wants a clean kitchen, so you want to make sure all countertops and surfaces are scrubbed properly and there is no clutter. Adding small features like new dish towels or soap dispensers are inexpensive ways additions that can add a touch of personality and organization as well.
For bathrooms, adding a brand new shower curtain, bath mat, and fixtures helps to make the bathroom look unused and in perfect condition. You should also inspect any cabinet hardware to make sure it’s properly installed and repair or replace anything that looks outdated with more modern features.
Look for Ways to Improve Curb Appeal
Although staging the inside of your rental is important, it’s important not to forget about the outside. In fact, since your property’s curb appeal is the first thing people will see as they arrive, you’ll want to make sure to invest the necessary resources into helping it stand out from others.
Improving your curb appeal doesn’t need to break the bank. Simply power washing siding, walking areas, and the driveway can give it a completely new look. If you have a larger front and back yard, consider trimming down bushes and hedges so they look well-kept, mowing the grass regularly, or adding a fresh coat of paint to the entranceway.
Increase the Perceived Value of Your Rental Property
Staging your rental property is an investment that can bring significant returns when done right. By implementing the strategies discussed, you’ll be able to attract more interest in your rental while maximizing your passive income.
