Would you like to rent your income property for more money?
Professional staging/decorating for an income property is becoming more and more in demand. If you are looking for executive rental income for your unit, the property has to be presented accordingly.
Some of the apartments are quite new and others require some cosmetic renovations before decorating for rental. Some clients need help with managing the total project from beginning to end and taking care of things such as:
· Make the list of what needs to be fixed, repaired, painted or updated
· Select and purchase all the materials, tiles, light fixtures, etc.
· Provide renovation team to do the work
· Provide cleaning team
· Purchase all furniture
· Purchase all accessories
· Purchase linens, towels, even dishes if required
· Stage/Decorate the rental property for rental
Decorating for rental involves some clever and creative thinking. We want it to look nice but we don’t want to spend a lot. We have to keep in mind the necessities for someone renting the apartment but also be practical. The income unit has to look inviting but remain neutral in look and color. As we don’t know who will rent it, we need to stay away from gender specific colors or accessories!
We need to take into consideration our market and potential clientele we want to reach and stage/decorate accordingly. But chances are that our tenants will be less careful with our furnishings, so we need to plan for that as well. For example, I recommend darker color furniture and carpets as they will stay cleaner for a longer time. We want to include the minimum amount of furniture but it has to be comfortable enough for everyday living. In general, the objective of decorating for rental is the same as that of home staging; creating a great first impression and allowing our potential tenant to see himself/herself living in that space.
Recently, Home Staging Montreal team was involved in a full renovation/decoration project. The client purchased a two bedroom condo in the city and is planning to use it as a retirement place in a few years. Until then, he wants to rent his condo furnished in order to increase the rental price.
We were asked to take care of the whole project and were given a budget of $10,000 maximum. After evaluating the requirements, we first started by fixing up small things, adding a kitchen back splash, changing all light fixtures and repainting the income property. Then we went shopping for vertical blinds, and had the place professionally cleaned.
Keeping in mind our objective, we found some good looking but inexpensive furniture, carpets and accessories by shopping at large stores, such as Ikea, the Brick and Costco. We added some artwork, cushions, throws from Homesense (our favorite) and we put it all together for a simple but effective urban look.
The whole project took under 3 weeks to complete and we managed to stay under budget – the final tally was $8,800. Final result – a happy client and an income property well rented!