How to Style Your Furnished Rental Property Like a Pro!
Do you manage or own a furnished rental property?
This article is especially for you!
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For the past few months, I have been learning as much as I can about the world of furnished rental properties. This topic interests me as a home stager because of the huge number of traveling medical professionals renting locally.
One day, it occurred to me that these listings for furnished rental properties could really benefit from staging. After all, the market is highly competitive, and it attracts professionals willing to pay more for temporary housing.
What challenges face property managers & owners?
The challenges facing property managers and owners are similar to those facing home sellers. I’ll address vacant rental properties first. Vacant properties don’t look great online, which is how many traveling professionals find properties.
Even if a property isn’t offered as a furnished unit, it makes sense to take listing photos both with and without furnishings, to show the consumer how their new “home away from home” will look with furniture. Besides, once staged photos are done for a rental property, the manager or owner has their own stock photos that can be used every time the property is re-listed! It makes sense to show at least a few photos of the unit looking its best.
Furnished properties & visual marketing
Furnished properties need to show the furnishings that will be offered along with the property, for accurate marketing. When a property is furnished, it makes the most sense to spend money on the most important items (bed, mattress, sofa) and purchase other items less expensively. Rental furniture may be cost-effective in some markets, but the selection is sometimes limited. Other owners choose to purchase their own furnishings for properties they plan to hold for a while.
A pre-furnished property needs to feel cozy, homelike, and welcoming, without being too taste-specific. Neutral furnishings with a contemporary feel are generally regarded as being the most appealing to renters, because the unit will resemble a model home. Light-colored furnishings with washable fabric makes the most sense for a couple of reasons. Light colors are perceived as being “cleaner.”
Furnishings that are lighter also take up less visual space in photos and in-person, making the space feel larger. Fabrics that can be cleaned with mild soap and water are obviously the best choices for rental properties, because as life happens, so do accidents.
Essential furnishings for any furnished rental
The furnishings for any furnished rental property are essentially the same, regardless of the size of the unit. The living area should contain a sofa and chair, coffee table, light source, and a television. Whatever dining space is available, the unit should contain a table and one more chair than there are bedrooms. (This ensures adequate seating for an extra guest).
Each bedroom should contain a bed frame or platform, a comfortable mattress and bedding, a side table, light source, and space for storing folded clothing. Bathrooms should have enough towel and washcloth sets for two showers per tenant, and a shower curtain if there is no shower door. The kitchen should contain pots, pans, a knife set, silverware, coffee maker, and enough plates for each tenant plus one.
However, a rental unit that only contains the minimum furnishings is unlikely to amaze the tenants. Accessories make the difference between “acceptable” and “home away from home.” Considering the low expense of accessories, they should be used strategically to add personality and warmth to the rental unit.
Large, colorful artwork transforms rooms with the typical bland wall paint. Large area rugs, especially in the living room and bedroom, add color and functional warmth to hard-surface floors. Vases and decorative faux plants fill in empty spaces.
For those interested in providing a luxurious experience, leaning full-length mirrors, book cases, and decorative ladders add height and fill in corners of rooms. Throw blankets, decorative pillows, soap dispensers, and ottomans also soften spaces and add visual appeal.
Level up your furnished rental without spending a bundle
Rental property managers and owners may be surprised at how inexpensive it can be to bring their property to the next level of luxury…which can bring in significantly more income! For retail, I find that Amazon, Target, Home Goods, and (much to my surprise) Big Lots carry an assortment of decor items that have impact.
Another resource is to work with a decorator or stager who has a retail license. The retail license allows these professionals to purchase items wholesale, which can be sold for less money than a traditional retail outlet.
One final option to furnish a rental space inexpensively is to search Craigs List, Facebook Marketplace, and thrift stores for furnishings. Many times, slightly distressed furnishings can be refinished beautifully using wood stain or paint.
The only limit to furnishing a rental property is your own imagination and ingenuity. If you manage or own a furnished rental property, Gate City Design offers a package that includes a Styling Evaluation PLUS design mood boards with item sourcing, so you can purchase what you want for your property.
In-person evaluations are available within central North Carolina; virtual evaluations are done by Zoom for property owners out of the area. If this sounds like a service that will increase demand for your rental property, contact us for a complimentary Get-Acquainted call today!
Hillary McAlhany is the owner and Senior Creative Consultant of Gate City Design. She is a certified professional home stager/redesigner, E-designer & color expert. Although she is based in North Carolina, she offers remote design services outside of the central North Carolina region.
