Deciding to rent a property is a big decision for any potential tenant. But science says the decision is actually made pretty quickly, taking around 7 seconds for a tenant to decide if they’d like to move in. First impressions matter.
But should you go to the extra effort of staging a rental property? The answer is yes. Here are our top 7 reasons to consider home staging for your rental property.
Taking a property from bare walls to a beautiful home by adding furniture and décor is called home staging. Staging a rental property has a remarkable impact of the success, speed, and wow factor of rental properties.
On average, home staged properties fetch 8-10% more value and typically spend half the amount of time on the market.
Property staging can help people imagine their home
Prospective tenants are more likely to want move into a property that they can imagine themselves living in. If a tenant is happy to view a property, this likely means they’re happy with the area and cost. The deciding factor in their decision is whether the property ‘feels’ right. Evoking this emotional response via welcoming and stylish home staging is a lot more inspiring.
People want to be able to imagine how they’d live in a space and staging your rental property can help.
Great property home staging can attract great tenants
Aside from our tenant vetting process and inspections process, it always helps to have further peace of mind when it comes to tenants residing in your home. If a tenant is moving into a property that has been taken great care of and looks fantastic, it’s more likely they will feel inclined to look after the space in comparison to somewhere that has seen better days.
Advice from an interior designer on how to stage your rental property
We chatted to the talented Karen Welstead, founder of Glasgow’s ‘Interior’. Karen’s design consultancy company has helped almost 100 Tay Invest clients with home staging.
From beginning to end, how long does the staging process take?
“The process can very much depend on the type of project and the need of the client. We are nimble and experienced enough to move very quickly to furnish a property for a client. At the same time, there can be properties which require some thought and planning. We were fortunate enough to furnish the Penthouse at the Crescent in Edinburgh for a Tay Letting client which included site visits while the property was being built. This allowed planning for curtains, blinds, original art and furniture. All of the planning in advance meant we were able to have it furnished on site in two days.”
What are some common mistakes people make when staging a rental property?
“We often see clients using excess furniture they have in the garage or things they are keen to get rid of in their rental properties and the result can look a bit tired. It does make sense though, financially, to use what one has, and it is simply a matter of putting some thought into how one can mix those pieces of furniture with others to make the whole look of the property appear intentional. Using antiques can add to the overall look.”
How do you make the home look great, while staying within budget?
“Setting a budget at the outset is important when staging a home. I would always advise clients to talk to Tay before furnishing the property and figuring out how much the rental would be if the property is furnished well. That will inform the budget. There’s no point spending fortunes on the inventory when it will not add to the rental amount.
Once the budget has been set have a look at a range of outlets and shop around. Take advantage of seasonal sales or consider ex-display items on offer. Sofas are a good example of a big-ticket item which can be picked up in excellent condition for a fraction of the price. The high street and large supermarkets offer an excellent range of accessories, kitchen equipment and lamps which will lift the overall look at a reasonable price. Fancy brands like Le Creuset and Joseph Joseph are available in TK Maxx at reduced prices. Often, though, clients don’t have the time to shop around which is where we come in!”
What are the main benefits of home staging?
“Home staging sets your property apart from others on the market. You are offering a better product than one which has not had the same attention paid. It makes absolute sense to maximise the return on a property by ensuring every element is the best it can be – from marketing photos to a homely feel which will stick with potential tenants. It will make them want to move straight in!”
How do you make a property feel like home?
“Staging a home is a matter of spending time thinking how someone might live in the property. Adding little extras which will connect them to the home, be it a small breakfast bar in a kitchen to allow for chatting and having a glass of wine, or a pulley for hanging up washing. Create a welcoming look with clean and quality furniture and add some nice accessories – something as small as colourful coasters can make a difference.”
Find out more?
If you are considering renting out your property, get in touch to discuss how we can ensure a quick, stress free and successful listing to secure fantastic tenants.
