Renting a furnished property is a multi facet, multi layered occupation with the fundamental component being the furniture in it! The ability to rent a furnish property successfully, albeit long or short term, relies not only on the property and location but on the quality and look of its furnishings and fittings.
It is important to consistently refresh and restyle a furnished rental. Properties easily get well loved and used during their rental tenure and interior looks go in and out of style as time moves on. The decision to restyle a fitted out property is not to be taken lightly as it can improve your property’s total rental performance, from influencing the guest’s decision to book, to securing a great review at the end of the stay…Understand how below:
1 – Beat the competition & increase your revenue
The better the property looks, the more it will get booked and the increased opportunities for you, the owner, to make money. Even if a property is doing well with it’s existing furnishings, an optical “zhuzh” can provide the opportunity to review rates to reflect the increased quality of the fit out. The more up to date the styling and look of the property, the more up to date the pricing can be! People are buying into the lifestyle of a furnished rental, they want something that looks good and follows a theme. They want to feel like they’re staying somewhere special and taken care of. Customers base decisions on which property to book on the optics; do they like the paintwork, the art work, the sofa cushions, the modern kitchen, the colour scheme? Etc. Etc. If they do – then they’ll pay for it! If the property is outdated, or seems sad and worn, it won’t get a second look against the competition.
2 – Attract Better Guests & Tenants
As everyone knows, what you put in, you get out. If you don’t put in the right kind of furniture and soft touches, you may not get the right type of guests you are after. If guests feel that the quality of the furniture isn’t to the standard of the price tag of the property, they could subconsciously end up treating the furniture with less care. If items are worn out, tired or broken then guests won’t care for them in the same way as they would if they were clean, polished and coordinated. You don’t have to go out and spend thousands on a luxury sofa, but there are plenty of high quality mid-range products that will suffice, or spend a bit more on a few keys pieces that make the property special. An Ikea piece is instantly recognisable, as is it’s cheaper price tag, so stay away from this range and invest at a higher level. Your guests and your bank balance will thank you for it!
3 – Make your customer experience unique
Traditional property staging/styling for sale asks for a neutral palette as buyers want something they can walk into and put their stamp on. Renters are different, they want to experience a property that is different to their home setting. They want local art to engage with the area, colours that reflect the location or history, versatile pieces that have multi use functions, and an upgraded outdoor space. If a guest walks away asking “I wonder where they got that from” then you know you’ve hit the nail on the head. It is important not to skimp on accessories and soft furnishings, it can change how a guest feels about a property. The customer want’s their experience to be unique, and to know thought and care has gone into the presentation of the property they’ve chosen.
4 – Attract Better Reviews
It goes without saying that the better the customer experience is, and the more they connect with the property, its furnishings, the styling and the overall feel, the more likely they are to leave a positive review. In this respect, the investment in good styling and upgrading finishing touches comes full circle. The better the reviews on the property, the more likely new customers are to want to stay! In fact 70% of prospective guests won’t book a property without a review on it. These days we are working in the trust economy, and reviews = confidence for prospective renters. A key investment is good mattresses and pillows, if people are getting a good night’s sleep their whole experience is enhanced. If the mattress is cheap, you’ll hear about it!
It isn’t hard to make a few key changes to your property’s styling, and these changes are well worth the investment. We always recommend using a professional stylist – who has the ability to put things together in a unique and special way. They are often able to get discounted rates and have the vision to improve on what you already have vs. starting from scratch! They also have the power of speed on their side, often stylists can get a property ready within days, whereas if you were looking to do it yourself it could easily take weeks. And while the property is empty – it isn’t making money!
If you do upgrade your furnished rental, whether it’s soft furnishings or a total re-vamp – make sure you get new photos taken to show off the changes you’ve made and follow these tips for preparing the property for it’s re-shoot! It is also the chance to upgrade your listing, tell your prospective renters that the property has been recently re-styled/refurbished and use this as a unique selling point!
At Property Providers our core purpose is “Helping People Live Better”. As Sydney’s most flexible residential rental agency we are totally focused on Property Management and renting “Your Property, Your Way”. We have designed 6 different rental services covering all facets of Long-Term Leasing as well as Short-Term Stays. Unlike franchise real estate agencies, we see the value in pragmatism and flexibility. Whether you want to rent your property furnished or unfurnished, for 6 months or 5 years, we will manage your property, your way. Our bespoke marketing strategies deliver discerning international tenants that understand quality and are prepared to pay for it. If you would like to learn more please visit our website or call us on +612 9969 7599