Home Staging for Income Properties

By
Home Stager with Home Star Staging

I'm a big fan of the new HGTV Show Income PropertyHost Scott McGillivray takes a rental property from un-leasable to the most sought after on the block all in a span of the 1/2 hour show.  Much work is put into these properties and the icing on cake is the reveal in the end where Scott and his team use Staging as the final marketing tool to showcase their mini masterpieces. I am so thrilled to see their use of staging for these income properties and am hopeful that prospective landlords around the country will see this and understand why staging is also a necessary part of getting their properties leased.

Leased properties are a hot commodity on the real estate market in many areas.

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For many people leasing is the only option they have currently for a variety of reasons:

Financial:

  • many people in need of a home cannot qualify for a mortgage currently
  • many don't have sufficient funds for a down payment
  • many need to build up their bank account before heading back out to the home buyer's arena. 

Geographical:

  • many people and their families are in need of housing while on a temporary or long term job assignment in another area
  • many people are from out of the country on work assignment for a year or more in the US

Personal:

  • Some folks like to get a lay of the land in a new area before putting down roots
  • Some folks prefer a lease to buy option to get a feel for the house before purchasing
  • Some folks just like to change vistas every few years and enjoy moving into a new home without the ties of having to sell first
  • Some folks are in transition through life changes like divorce, death or other family related crisis or changes

Many of these folks are in a great position to lease and have a lot of properties to choose from.  Many home sellers are also offering the option to lease or buy in this market too. As with any property for sale(and a leased property is essentially "for sale" for a time and is making income for the owner) it is imperative to showcase that property for prospective tenants to see themselves in. 

Home Staging for income properties is a must do in today's market.

Utilizing the services of a home stager to showcase these rental properties is a smart move. 

Even leasing furniture for the property from a national rental company and making it a selling point,(when working with a national rental furniture company the  furniture can stay with these properties for as long as the tenant needs it. The lease will just be transferred in the new tenants name after the terms of the original agreement are met) is a wise move. It will assist the prospective tenant to see that their furniture will fit and gives them ideas of what to do with the space. It is the same principal that applies while stage to sell.

I've worked with a few leased properties over the course of the last couple of years and with much success. In the case of one lease &/or buy option, the house sat on the market over 90 days with no offers either way, once staged, after 3 days a Canadian couple on a temporary work assignment in the US saw the property staged and leased it for a 3 year term.

Home staging is a valuable marketing tool for income properties.

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Home Sellers, Realtors, Investors and Landlords, for expert advice on preparing a home for sale or lease contact Home Star Staging, a Plano,TX based Real Estate Staging and Consulting company.

Home Star Staging is here for you North Texas! 

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Home Staging Dallas - Karen Otto

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Tags:
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Rainmaker
186,527
Donna Schoby
Liberty Bank of Arkansas - Bentonville, AR

Karen, I haven't seen this show yet. I'll have to record it (that's the only way I get to watch anything). Thanks for the post, you bring up some very good points about leasing. I remember one of your other posts about how you stage income properties.  I loved this idea but had put it on the back burner....maybe time to think about this added service and get the ball rolling! Thanks!!!

Nov 07, 2009 03:21 PM #1
Rainmaker
1,064,017
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Like Donna, I haven't seen the show either.  Sounds like it would be fun to add to the dvr!  I love the idea of renting furniture and the new renters being able to keep it.  Great post!

Nov 08, 2009 08:16 AM #2
Rainmaker
300,634
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

Hi Donna & Sharon, it's a really great show that highlights 2 options for the landlords for their income properties, a quick fix and a long term benefit one. They basically gut the basement or income property of the owner's home and reveal the new unit in the end.  The staging is the icing on the cake. It also lets you know how much and how soon the unit was rented at the end of the show.  In many cases it's over what was originally expected.

Nov 08, 2009 10:25 AM #3
Rainmaker
672,407
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging that Sells Portland Homes"

Karen ~ good post.  I agree that income properties are prime candidates for staging services, and have been asked to submit proposals for a few.  It's an idea that's growing in popularity!

Nov 08, 2009 01:53 PM #4
Rainmaker
300,634
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

With so many on the market to choose from Maureen it makes perfect sense time and dollar wise to invest in staging these properties.

Nov 09, 2009 07:52 AM #5
Rainmaker
69,260
David Selman
Selman Home Inspections, Inc. - Dallas, TX
Certified Master Home Inspector

Karen - Great post. I am new to active rain and the real estate market. I would like to post a link to your website on my website if that is ok with you. I will post it today! I also understand that many investment properties including homes, condos, duplexes and apartments need home inspections. I would appreciate any referrals you can send my way. I will do the same for you with the Realtors I meet...

Nov 18, 2009 12:10 PM #6
Rainmaker
69,260
David Selman
Selman Home Inspections, Inc. - Dallas, TX
Certified Master Home Inspector

Ok Karen - I posted a link to your site. I hope it helps drive some traffic. I noticed that part of your mission is to make properties "buyer ready". My home inspection company offers Seller Home Inspections that promote a property as "Move In Certified" including a complete report and yard signs. Let me know if this service would be a fit for your business and properties.

Nov 18, 2009 12:16 PM #7
Rainmaker
300,634
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

Thanks for your comments and the link David. I've sent you another email to follow up.

Nov 20, 2009 05:32 PM #8
Rainmaker
25,831
Peggy Johnson
Redesign + More - Charlotte, NC
Home Stager - Charlotte NC

Karen,

Great post with interesting information I like the idea of income properties and it gives stagers another

service to offer.

 

Thank you for sharing.

Nov 22, 2009 09:23 PM #9
Rainmaker
300,634
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

Thanks for reading Peggy!

Nov 30, 2009 07:53 AM #10
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Rainmaker
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Karen Otto

Plano Home Staging, Dallas Home Staging, www.homes
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