Effectively staging houses for rent can help maximize appeal and justify a higher price. It is even more important for vacant rental properties because they are often difficult to sell. Here some tips and tricks on staging your home for rental showings.
1. Start With A Budget In Mind: If your rental apartment is vacant, you will need to invest some money to stage the property for showing. Start with determining your staging budget. Remember, the money you invest into staging can be easily recovered when your property is rented. Spend money based on the monthly rent you expect from the property. You can spend about 20 percent of the monthly rent on cleaning, renting furniture and other things.
2. Know Your Audience: If you generally rent to a particular type of tenant because of your property’s location, such as families or students, ensure that you stage the rental in the best possible way for your target audience.
3. Do Basic Repairs: Ensure that potential tenants have nothing to complain about. Leaky faucets and broken door knobs can turn off the prospective tenants instantly. So, undertake the basic repairs before the showing.
4. Keep Everything Clean And Fresh: Make sure there are no signs of the previous tenants in the house. When someone is looking for houses for rent, the last thing they want to see is holes in the wall, chipped paint and scuff marks on the floor. Go for professional deep cleaning before the showing.
5. Create A Home: The idea behind staging is to help prospective tenants visualize themselves living in the apartment rental. Try to make the home look inviting. Simple things such as a few pictures on the wall, nice shower curtains and a few pieces of furniture can help create the right impression.
6. Make The Unit Appear Bigger: When the houses are empty, they appear smaller. Place some furniture strategically so that the place looks livelier and bigger. A set of table and chairs in the dining room and an inflatable bed with some nice bed linen in the bedroom can put the size into perspective.
7. Depersonalize The Space: You may like bright colors and specific décor but it may not appeal to everyone. So, decorate your apartment rental with neutral hues and pops of color. Even when you are staging your unit with some furnishing make sure you choose only neutral palette that will appeal to a large number of potential tenants.
8. Keep It Clutter Free: This is probably the most important of all. Too much furniture or accessories can make the home look much smaller than it actually is. So, just use basic furniture and keep the décor simple. Using too much of it will make the place look cluttered.
9. Add A Touch Of Luxury: Simple details like white bedding and fresh towels in the bathroom can create a sense of luxury. It makes property more attractive and gives prospective tenants a higher perceived value of the rental property.
10. Enhance Curb Appeal: Your home’s exterior should look as good as the interior. Repair any exterior problems, clean the exterior walls, clean the grounds and plant some annuals.
If you are wondering about the best ways to fill rental vacancies in Calgary quickly, LeaseWell can show you the way. We have the expertise and experience it takes to effectively manage houses for rent and get us clients the highest possible ROI.
Whether you are planning to buy a new home or turn your existing home into a rental property, get in touch with our experts. We will help you through the process and make sure that you enjoy the best return on your investment.
LEASEWELL Property Services helps you manage your rental and investment property completely hassle free so you can focus on things that matter most for you. We do this while making sure that you have choice of high quality, Pre-screened tenants to choose from to maximize return on your property investment
For more please visit our website www.leasewell.ca or contact us at firstname.lastname@example.org
For the month of September 2018, Toronto and Vancouver again kept their spot as top 2 priciest cities in Canada with Burnaby B.C. being 3rd most expensive city.
Our own Calgary market firmed up with Rents for 1 and 2 bedrooms jumped by 4.8% and 4.5% respectively. Edmonton registered modest improvement with over 2.3% & 4.3%, the rental market in Burnaby B.C. took a 4.2% dive the sharpest drop across all major cities in Canada, per rental website Padmapper.
Whether you are planning to add a rental suite to your home or purchasing a new principle residence and turning the existing one into a rental property, there are things you need to keep in mind. The prospect of earning additional income from apartment rentals does sound lucrative, but remember, it is no easy money. You need to plan things well to ensure that your rental property is profitable. If you plan to offer a home or homes for rent, here are some ideas to help you succeed.
1. Adding A Rental Suite
The easiest way to start earning income from your property is by adding a rental suite to it. If you already have a basement suite, it makes things even easier. You will need minimal renovation to get it tenant-ready. However, if you don’t have a suite ready, you can consider getting your garage converted into a rental suite or build a separate structure if resources and authorities permit. When investing in a rental property, you should make sure that the expected returns should outweigh the costs. It is best to seek advice from professionals that are expert in managing houses for rent in Calgary.
2. Buying another property
If you think your current home can fetch you good rental income and you can afford another home, go for it. However, it is a huge decision and should be taken only after consulting experts. There are few things to bear in mind. First and foremost, ensure that the down payment for your new home is at least 5 percent and should come from your savings.
Your rental management company has found you a new tenant and it’s time for them to move in. However, before the tenants arrive, you will need to ensure that the property is ready for the new occupants. Here are some tips from experts at our property management company to help prepare your apartment rental property in for a new tenant.
1. Do a walk-through
Before your new tenants move in, do a thorough inspection of the property and make a list of everything that needs to be replaced, repaired or cleaned. If you have hired one of the apartment management companies, they will take care of this.
2. Repair any major damage, health issues
Check if there are any broken window locks or holes in the wall. Look for any signs of mold or pests. Find out if the carbon monoxide and smoke detectors are functioning or not. These issues should be dealt on a priority basis.
Rental properties can be an exceptional source of income, providing a continual revenue stream that can help pay mortgage or allow you to expand your investment properties. However, anyone thinking of becoming a landlord should be aware that it is not a passive income. Even if you are just renting your basement suite, you are in business and you should understand what it is all about.
Being a landlord is a full-time responsibility. There will be maintenance requests at inconvenient times, the tenants may miss out on rental payments or they can be too troublesome but you may not be able to evict them straightaway. If you have an apartment for rent, it is important to do your groundwork before you become a landlord. Here are some tips for first-time landlords:
For the month of August 2018, Toronto and Vancouver remained their spot as top 2 priciest cities in Canada. The rental market in Edmonto registered the sharpest drop with over 5.4% drop in rent prices, while Halifax in Nova Scotia notched impressive 5.5% rent increase per rental website padmapper.
The average rent in Calgary, AB continued to be soft with modest of -2.80% decrease in one bedroom rents to $1050 and -1.50% decrease for 2 bedroom rents to $1330. On year on year the rent for the one bedroom and 2 bedroom apartments remained higher by +2.90% and +2.30% respectively.
In our neibour city Edmonton, AB, one bedroom rent fell -5.4%, which was the largest monthly decline in the country, to $870. Two bedroom rent decreased a slight -0.9% to $1,150.
Do you know you may be able to rent a home in Calgary for much less money than it costs to own?
And perhaps able to travel and work abroad because you are not tied down by a house! And at the same time to take advantage of a strong stock market or invest money that would otherwise have been consumed by a house!
While in the two most expensive cities in Canada, Toronto and Vancouver, many folks are desperate to get into the real estate market because home prices have surged disproportionately in last few years and they feel it’s a great investment, Calgary remains one of the country's quieter real estate markets because of low oil prices and overall muted economic recovery.