How To Prep & Stage Investment Homes For Quality Tenants
Category: Residential Property Management
As a Miami Beach Property Manager, Doric Property Management has some great tips on how to prepare investment homes to attract quality tenants. It can get expensive when tenants move out of the home, especially if it winds up being a few months before a new one moves in. The mortgage may still be due but no rent is coming in to cover it. It also costs to have some repairs done and the home cleaned as well as other make-ready projects.
Everyone wants a quality tenant who will take care of the property, pay rent on time, and want to stay for years on end. If you own investment property in Miami Beach, it will benefit you to learn a few things about prepping the home in ways that would attract good tenants.
Some property owners will not fix up the home before leasing. This can mean that they will only be able to collect lower rent. Plus, if the tenant doesn’t feel proud of the home they live in, they will either not care about the home or won’t stay long.
What To Do Before You Paint & Decorate
Any repairs should be done before you start to paint and decorate. This includes any type of plumbing upgrades or repairs or carpentry work. If the drywall needs to be repaired or some trim and molding needs replacing, get those things done first. Replace carpeting and flooring after all other work has been completed.
It is a good idea to clean *after* all the work has been done in the house. Otherwise, you’ll be calling the cleaning crew back to get rid of the construction debris. Replace flooring and carpeting after any repair work but before cleaning. Then the final touches of the make ready can be done.
Staging Furnished Homes & Apartments
If the rental home or apartment will be furnished, the first order of business is to paint. But how do you know what will attract the majority of renters?
One thing you should not do is choose a bold paint color like bright yellow or dark green. While you may love it, the majority of renters won’t. Paint using a color scheme that is neutral but fabulous. That means, don’t go dull. A dull interior is just as ugly to many as some of those bold colors. Use some contrast, but don’t go crazy with it.
Decorating should be tastefully done. Base the design on the architectural style of the home. Here in Miami Beach, the architectural style of homes is predominately modern, vernacular, and bungalow. However, the interiors of many condos, apartments, and homes are clean-lined modern or contemporary.
Take a good look at the architectural style of the interior and go with that. If there is ornate woodwork or molding, put a little of that in the design. Bring in a little of the history of art deco architecture in key places.
When furnishing the home, keep it simple and clean. Remember that your tenants will have belongings of their own, so they need space for them.
Make sure there is enough seating in appropriate areas, that they have a nice dining table and chairs, and that the bedrooms have nightstands and dressers for storage. Think function as well as design.
Staging Unfurnished Homes & Apartments
On an unfurnished home, the color scheme should also be appealing to a wide variety of people. Just remember when you choose colors that their upholstery, draperies, and area rugs could be any color and pattern imaginable. It’s important they can imagine their belongings with the paint color scheme.
Decorating an unfurnished home is usually simplistic. You can set it up as you would a showroom or leave it with no temporary furnishings at all. Leaving it empty can actually help the tenant to imagine where to place their furniture. The more they can think about it being theirs, the better.
Pay attention to woodwork and make sure it’s nicely stained and sealed. Floors should look impeccable. Walls should be freshly painted. Make sure there is a shower curtain bar. You can hang drapes for drama and a cozy feeling.
