How Home Staging Influences Rental Terms and Tenant Interest

How Home Staging Influences Rental Terms and Tenant Interest
How Home Staging Influences Rental Terms and Tenant Interest
Home staging for renting is similar to staging for selling, yet there are some key differences. The first and most important difference is the goal of staging. With staging for selling, the goal is to maximise the selling price and reduce the time on the market. On the other hand, the goal of rental property staging is to secure the best tenants and maximise rental income.

Effect of Home Staging on Rental Demand

Just as home staging for selling influences the potential buyer's mind, rental property staging positively impacts the opinions of prospective tenants. Since a well-staged home looks well-cared-for, people tend to perceive it as more valuable. It typically attracts better tenants and more interest.

An unfurnished property has a certain 'cold' vibe; it feels like an empty space rather than a home. On the other hand, an over-personalized place looks like it belongs to someone already and discourages the tenant from envisioning life in the house. According to 81% of agents involved in a 2024 study, home staging makes it easier to visualise a future home in the property. Additionally, according to 58% of agents, home staging affected how people perceived the house. With staging, it's possible to evoke positive emotions and encourage the imagination of prospective tenants.

Enhanced visual appeal makes a place more attractive to people. It helps the marketing since it makes a house stand out in online listings. Many people first encounter rental property online, and staged home photos set a good first impression. Prospective renters may view the photos of a well-staged property and feel tempted to inquire more about it or schedule a viewing appointment. The photos look much better with strategic staging, and bring up much better leads. Since pictures of a staged home attract more viewings, they increase the chances of finding tenants faster.

Even during in-person viewings, a staged property looks like it's well-maintained. It indicates that the landlord pays attention to detail and values quality. Staging a rental is especially useful to increase demand in a slow market. It can significantly lower vacancy time.

Staged homes may also lead to quicker lease agreements. However, even professional staging may not be able to increase the attractiveness of a property to potential renters if the lease has a relatively short remaining term. It is wise to check the terms and get an extension before staging for renting out. A quick check of the lease extension costs will help make an informed decision.

Staging for the Target Market

Using varying staging styles to focus on the target rental market can help attract the right type of tenants. Since different demographics have varying preferences, home staging must be done keeping those of the target tenant demographic in mind. Furniture and decor choices will differ depending on the target rental market. For instance, young professionals (usually single or couples without children) prefer modern aesthetics with clean lines. Smart home features, lifestyle amenities, and maybe a designated workspace may prove more attractive to this demographic. Families on the other hand need more space and cosy furnishings. Tailoring the staging style to the target rental market can help create a relevant living environment that resonates with prospective tenants.

Focusing on Well-Being

While staging, it would be beneficial to create an environment that focuses on well-being. The home should look like it will offer a comfortable and satisfying living experience. It should feel like a sanctuary, after the efforts the prospective tenants may have already made in looking for a place to live. Well-being-focused staging can also lead to an increase in the perceived value of the property. Prospective tenants might agree to pay a premium to occupy the life-enhancing property. Several techniques, such as decluttering, using comfortable furniture, and ensuring proper ventilation can be used to stage a home with well-being in mind. People who visit the home are more likely to feel an emotional connection and a stronger inclination to the place.

Staging with Biophilic Styling Techniques

This is styling to highlight the potential of the home to increase the occupant's connectivity with nature. Since this type of styling brings out a calming, rejuvenating vibe, it is more appealing to prospective tenants.

Biophilic styling techniques include but are not limited to these:

  • Opening up the windows to let in fresh air and light
  • Maximising natural light by taking measures such as using sheer curtains, removing window obstructions, and opening up the blinds
  • Incorporating greenery throughout the house, possibly in the form of large potted plants on the floor, small ones on the shelves, and hanging plants in the best possible places. Prospective tenants may find low-maintenance options such as succulents or ferns more appealing
  • Using natural materials such as wood, bamboo, or stone for the floors, furniture, and decor
  • Decorating with a natural colour palette
  • Positioning the seating areas strategically to highlight views of nature
  • Utilising patterns that mimic natural elements
  • Decorating with nature-inspired art, such as paintings of wildflowers or the rising sun
  • Evoking the feeling of being out in nature with the use of essential oils or candles with natural scents

Applying Colour Psychology to Staging

A rental property should ideally be just interesting enough to encourage the imagination of the tenants. It's best to avoid complex colour schemes or loud colours when it comes to a rental property. This does not mean the house needs to be bereft of colours. Soft or neutral hues such as beige on the walls are likely to appeal to a greater variety of renters. Warmer colours create a more inviting atmosphere, so they are best for living areas. Use colours like blues, greens, and earthy tones as accent colours. A few pillows or throws in such colours will add personality without being too overwhelming.

Strategic use of colours can draw attention to features such as a fireplace or built-in bookshelf, which can capture the interest of potential tenants. Bedrooms will have a more calming effect with cooler colours. The kitchen and bathrooms could do with a touch of modernity with whites and light greys; such colours convey cleanliness. Lighter colours in rooms coupled with ample natural light give the illusion of space, while darker colours and the absence of sufficient lighting have a constricting effect.

The selection of colours will also depend on the neighbourhood and target renters. Bolder choices may receive more acceptance in an artistic neighbourhood. Timeless choices are safer and better for rental properties. It's always a good idea to look at the direct competition, the other similar rental properties in the area, before making final colour choices.

Increasing Rental Yield through Home Staging

Rental yield indicates the annual return on investment, that is, the amount likely to be earned from a rental property investment each year. To calculate rental yield, annual rental income is divided by the initial purchase price of the property.

A higher appeal can lead to a higher yield. People are typically more open to paying more rent for a house that looks and feels good to stay in. Renovating an older home can make it easier to ask for a substantially higher rent. Professional stylists can not only improve the look of the home but also its potential functionality, which will then justify a higher rental price.

In a nutshell, rental property staging can help reduce vacancy period, maximise yield and optimise return on investment.

Enhancing Value with High-Quality Professional Staging

Professionals can make a home look ready to move into and boost the lifestyle appeal. Experts at House Wow pay attention to every detail, from the placement of furniture to the choice of accessories, to create an inviting and attractive space. Make your rental property stand out in online listings and during showings with high-quality professional staging.
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