I understand you have your own real estate investment strategies but I thought you might find the below information on staging helpful.
As a property manager I have to advantage my clients anyway I can.
This includes increasing their chances to rent their units faster, to better tenants & for more $.
So, I recommend staging:
Statistics show that staged rental, on average, rent in half the time then non-staged homes and that owners with staged homes ended up with 6.3% more rent, on average, while owners with non-staged units rent for 1.6% less than the rental asking price.
Staging can be as little as reducing clutter – to the more ambitious extent of a professional staging company. But even small changes will have a great impact on how quickly a property rents, and how much it will rent for.
Most important, appears to be keeping the front of your property neat, clean and free of debris. First impressions mean a lot and real estate statistics validate this. When we study tenant-behavior we see that potential tenant often decide about their interest in a property within a few seconds of seeing it. Since those first few seconds are standing outside your unit and as they enter it, try to take a few minutes each day to keep it neat.
Once in the home, eliminate clutter and keep the property clean.
Remember, what you are selling is a lifestyle. Tenants are looking to upgrade their lifestyle and hopefully they can see that opportunity in your unit.
The more content you remove from closets and rooms, the larger they will appear. If you will need to go through and get rid of items once a tenant is moving in anyways, you should do it now, when you know it will greatly benefit your ability to rent.
Small repairs and fresh paint are two items that also are also very high-impact and very high reward. Both tend to really pay off for getting better tenants and higher rents. If you decide to paint, use neutral colors that will fit with every tenant’s decor. Remember, the tenant will need to be able to picture themselves in the home.
I hope you find these tips helpful and not over-whelming. While I do recommend staging (since even a little has such a high impact), I also understand there are limits. The most important thing to me is that you have a stress-free, passive-income investment. I suggest you approach staging as much as you are comfortable with, and be satisfied you’ve improved your chances.