Staging has been an effective method to boost value and decrease the time spent on the market for those looking to sell their homes fast. But did you know that you can also stage your rental to get the best value as well? By showing off your rental property’s finest features, you can positively impact how the renter perceives your home. With these following tips, you can learn how to stage your rental to obtain the best rental rate for your space.
Remove Personal Items
Staging helps potential renters visualize the property as their new rental home. And a home decorated with your personal items makes that a difficult task. Remove as many personal items and decorations as possible to make your home more renter-friendly.
Fix and Repair Problem Areas
If a previous tenant has just left, there may be items that need to be fixed or replaced, often due to normal wear and tear. Make sure you address all areas of concern before staging and renting. The inside of the property should be in pristine condition for the next renter. If you have difficulty identifying these problem areas, a Toronto property management company can help you see the unit through the eyes of renters to fix the items that renters care about most.
Don’t Forget About the Exterior
Don’t overlook the importance of a clean and attractive exterior when it comes to improving rental value. Focus on tidying and staging the backyard shared space and entrance ways. Clean windows, a tidy recycling/garbage area, and freshly painted/stained decks and porches all make for an attractive rental. You should also pay attention to the driveway area, walkways and condition of your facade, and improve areas that are looking weathered or drab. In the summer, keep the lawn mown, water the garden, and trim hedges. In the winter, make sure walkways, driveways, and staircases are free of snow and ice.
Let in Light
One way to really show off a unit’s features is to let in as much natural light into the space as possible. Curtains and drapery that cover your windows should be left open. Also, ensure your windows are clean and sparkling before renters begin to view your home.
Less is More
Another goal during the staging process is to make the rooms look as big as possible. If your rental is advertised as furnished, remove excess items to create more open space.
Paint rooms in a neutral colour as soon as previous tenants vacate. Light colours make a room look clean and fresh, and also helps to create an illusion of space.
Hire a Professional Cleaning Company
You may not particularly want to clean up after a previous tenant’s mess. So, why not hire a cleaner to take care of all the cleaning? It can also help save you time and energy.
A beautifully presented home has a direct effect on the renters view and can increase the overall value. So before you open the doors for viewings, use these tips to stage your rental space. Need a helping hand? Simplified Rentals helps with all aspects of cleaning, staging, and marketing your rental property to help you get – and keep – the right tenant.
For another year, the Toronto real estate market has been a hot one. With exceptional growth already underway in 2017, and positive projections for the rest of the year, it’s no wonder why people are rushing to get into the market. And if you’re one of those people, there are some pretty important things you need to know before you dive in. Here we break down the key trends and projections to understanding the Toronto real estate landscape.
Demand Trumps Supply
The selling price of the average Toronto home has continued to skyrocket upward at record highs going into 2017. Part of the reason for such a stark climb is the increase in demand and dwindling supply. And the projections show that there’s to be little change in this department. Inventory levels are expected to remain low, which will, in turn, put pressure on pricing to continue to shift upwards.
New Mortgage Laws to Cause Cooling
The new mortgage laws that came into place in 2016, will make it increasingly difficult for new buyers to enter the market. So, you can expect to see more people shifting to the suburbs and buying property there. If we expect any corrections or slowing of the market, this will be the driving force behind the wheel. If you are looking to get ahead, position yourself in a suburb that’s in an up-and-coming growth area to receive the best returns.
Continued Market Factors
The local economy in Toronto continues to be strong, immigration is steady, and the interest rates are still at an attractive rate for buyers. These market factors which have been driving the overheated sellers’ market are projected to continue to persist well into 2018.
The Long-Term Leasing Play
With ownership being out of reach for many, long-term renting has become increasingly popular. And developers are reacting to the need by building more condos and townhomes that fit the needs of long-term renters and families. If you have the available cash to purchase a condo or townhouse in an up-and-coming area, you could build equity quickly by renting it out in this market.
The Shift to Energy-Efficiency
With the incredibly high hydro costs in Ontario, tenants and purchasers are looking towards energy-efficient buildings and homes to keep utility costs low. Plus, green buildings are becoming increasingly popular among informed renters and buyers, with the pressure for energy conservation and sustainability requirements on developers and owners following suit.
The Toronto market remains very hot going into 2017, and as the city becomes an increasingly desirable place to live and play, you can expect to see continued growth going into 2018.