Have you invested in a co-living space and are looking to rent it out for passive income? If so, one of your priorities would be to secure tenants quickly so you can minimise vacancies and get cashflow into your pocket as soon as possible.
Staging your co-living space can help to attract prospective tenants for your co-living unit. Beautiful aesthetics can make your co-living apartment appear more inviting, spacious and attractive. When you can entice more renters to look at your property, this will increase the chances of securing a tenant.
What is staging?
Staging involves positioning furniture, accessories and décor in a way that appeals to the largest group of potential renters. It allows prospective renters to visualise how the space can be fully utilised.
Where should staging be done?
Staging should be done in important areas such as the living room, bedrooms, kitchen and bathrooms.
Why should staging be done?
Here are 5 good reasons why you should stage your co-living unit for rental:
1. Staging creates a positive first impression
First impressions count and staging can help to create a positive feeling when prospective tenants step into unit to view the co-living space. An apartment which appears clean, neat, cozy and stylish will appeal to potential tenants. If they get good vibes, they’ll be able to imagine themselves living in the unit.
2. Staging helps to highlight space efficiency
It is important to have an easy-to-navigate layout which makes efficient use of the spaces. Thoughtfully-selected pieces of furniture and clever storage solutions can help prospective tenants visualise how to efficiently make use of every nook and cranny. As they tour the area, they can already get a sense of where they may to store their items or personalise the unit in their own way.
3. Staging lets your unit appeal to a larger group of people
Style your property so that it appeals to the largest pool of prospective tenants. Not everyone will appreciate an exotic or outlandish décor. Therefore, adopt a classic aesthetic such as a Nordic or Scandinavian design and go for a neutral colour palette for your furnishings and décor to stand a higher chance of getting that rental offer.
4. Staging improves the marketability of your co-living space
Through clever staging, you can highlight unique or attractive features of your apartment. When your unit is beautifully staged, this also results in more professionally-looking images which can be posted on the web, YouTube or social media to market your property. This helps your co-living space to stand out from the crowd and other competitors.
5. Staging can help to get you quicker profits
Co-living spaces that are properly staged for viewings will give you a better marketing edge. You’re likely to spend less time hunting for a tenant and you may even get a higher rental offer for a well-furnished apartment. When you can sign that rental contract quickly, you’ll be able to enjoy rental income faster and reduce turnover.