Is it worth it to take the time to stage a property for sale or rent? Depending on your needs, most real estate professionals recommend at least some simple staging when listing a property on the real estate market or rental market. Whether you work with a professional stager or not, staging helps real estate investors in several ways. Check out these tips for real estate investing and why you should take the time to stage the property you plan to sell or rent.
What’s the Point of Staging an Investment Property?
When you’re trying to move a property quickly to maximize returns, staging can feel like an extra and unnecessary step. However, many investors agree that simple staging can reduce the amount of a rental property or fix-and-flip investment stays on the market. So, how does staging help?
Buyers or Renters See the Potential for a Space
Showing potential buyers or renters the potential for spaces throughout the home can help you move the property faster! As buyers walk through the home or review photos online, they’re not just looking at its condition—they’re also analyzing the layout to see how they can use the space.
Adding room-appropriate furniture, like a bed or dresser in the bedroom and a couch or coffee table in the living room, will provide the buyer with scale and help them better visualize how their furniture can work in the space.
Prioritize Key Spaces
If the property contains some key spaces with unique or valuable features, staging can help highlight these areas and show them off. For example, a bathroom with a built-in oversize bathtub can be accentuated with spa-like decor. In addition, staging an extra room or additional living area as a home office can help potential buyers or renters fall in love with your home for the work-at-home benefits.
Increase the Perceived Value of a Home
When it comes to real estate investing flipping houses, investors need to show potential buyers that your home is worth their time and money. You may have a great house on your hands, but unless you take the time to make it stand out, you might not get the best price or move it off the market fast enough. A little bit of decorating and cleaning can go a long way in making buyers feel like the home is worth the asking price.
Think Like a Buyer or Renter
One of the top tips for real estate investing is understanding that both you and your buyer should walk away feeling satisfied with the deal. When selling your property or looking for new tenants, it is helpful to think like a buyer or renter. Buyers and tenants search for the right home to suit their needs and preferences. If you make that search easy by thoughtfully staging your real estate investments, you’re more likely to secure a buyer or resident who thinks your house is “the one.”
How to Stage Properly
Now that you know why it’s essential to stage a real estate investment to maximize returns, what should a real estate investor consider “staged?” While working with a professional stager can help you manage multiple properties and get them off the market quicker, staging itself doesn't have to be an overwhelming task. Many experts suggest that keeping it simple can have a significant impact on potential renters, buyers, and your success. Here are some tips to keep in mind.
Declutter the Home
If you are real estate investing rental properties currently occupied (but the tenants don’t plan to renew), most property managers recommend creating a listing as soon as possible to minimize vacancy time. However, you’ll need to work with the existing renters to declutter the rooms.
Ask them to put laundry, toys, and dishes away and make the property look clean, tidy, and inviting. While buyers or potential renters understand seeing evidence of life in the house, they won’t be impressed by a home that looks messy.
Give It a Thorough Cleaning
Whether you have renters living in the house or not, be sure to clean everything before taking photos and staging. Potential buyers and renters can spot an unclean house easier than you think! Even if the house’s condition is excellent, a buyer or renter may pass over your property for another opportunity that may be cleaner or look nicer.
Remove Personal Photos or Decorations
More renters and buyers will be attracted to a home that appears as a blank slate. By removing personal photos and decorations from current homeowners or renters, buyers can visualize their personal style and decor in the space, which can help them see your investment property as “home.” Although decorations may seem like an innocent touch to the house, even the smallest ones can deter a buyer from buying or renting your investment properties.
Choose Neutral Paint Colors
Giving a fresh coat of paint to the walls of your property can go a long way in making the house appear new and clean. However, be sure to choose neutral colors for the best impression on potential buyers or renters. Choosing the wrong color or the latest trend might put off some buyers. Neutral colors, on the other hand, can match almost anything. These colors can also become an excellent base for buyers to paint on before moving in and making themselves at home.
Remove Furniture, But Leave a Few Simple Pieces
A well-lived-in home collects plenty of furniture over time. Smart staging techniques include removing unnecessary pieces while leaving key furniture items that feel appropriate for the room. By decluttering a space, the house can appear more spacious. Leaving a few pieces of quality, modern furniture can help buyers understand the scale and see the potential of the space.
"Virtually" Stage With Software or Apps
If you don’t work with a professional staging company that keeps a warehouse of potential furniture items, having the right pieces for the right spaces can be challenging. However, staging doesn’t have to be just a physical experience. Thanks to software and apps, property investors can virtually stage a property. While nothing truly replaces staging with real furniture when potential clients tour a home, virtual staging can help online listing photos stand out.
Work With a Professional Stager For Your Real Estate Investing Team!
Staging a property correctly can significantly impact how long a property stays on the market and the profitability of your real estate portfolio. While keeping it simple to see how a few staging techniques can help you rent or sell properties faster, it does take time and experience to stage a property for quicker sales. When building your real estate investing team, consider a professional stager! These experts make quick and effective work of turning rental properties or finished rehabs into must-have homes for buyers and tenants.
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Build an effective real estate investing team with the tips in our free resource, “Assemble Your Real Estate Investing Team: A Worksheet.”