The Benefits of Staging Your Investment Property

While most investors might think staging their investment property isn’t worth the money, the benefits of staging can outweigh the cost. Deciding whether or not to stage your investment property is entirely up to you and your situation, but there are many pros to staging that could work in your favor in the competitive Austin real estate market.

Let’s dive into a few of the top pros to staging your investment property. 

Pro #1: Helps The Property Stand Out

Many investors aren’t utilizing staging for their investment properties, so staging yours will help you stand out among the competition. Potential tenants are more likely to look at your listing with staged photos over listings that aren’t staged because they’re more attractive and inviting, which helps them picture themselves living there. 

Pro #2: Increases The Value

Staged properties offer a more move-in-ready vibe that many potential tenants are more willing to pay for. In addition, they tend to have higher rental rates, meaning you can potentially charge tenants more money to live there. This means you could be marketing to tenants with higher incomes and higher quality tenants. 

Pro #3: Less Turnover & Vacancy Rates

Investment properties that are staged tend to attract more involved tenants who are looking for long-term rentals. Attracting this type of tenant can reduce your turnover and vacancy rates, meaning less stress on you and more money in your pocket over time. 

Pro #4: Shows You Care

Starting on a good note with tenants is huge. Taking the time to stage your investment property shows you’re willing to put in the effort to show the home in its best light. This sets you up to be viewed positively by potential tenants and shows you care about your tenants, their comfort, and the property.

If you have any questions or need ideas on how to stage your investment property, reach out to us! We would love to offer our expertise! 

How to Properly Manage Your Properties

Real estate investing is a fun opportunity, but in order to make sure you’re successful, you need to be the best landlord and property manager you can be. Not sure where to begin? We’re here to help.

  1. Lease targeting – Schedule lease end dates for times when the market is going to be particularly full of potential tenants looking for a new place to live. This decreases your risk of having open spaces and no tenants to live in your properties.
  2. Plan ahead – We all know that problems spring up when we least expect them, so be prepared. Make a plan for how you’ll take care of repairs when you’re out of town and be sure to set aside 10% of your rental income for unexpected repairs and emergencies.
  3. Happy tenants are the best tenants – Make sure that you take care of any repairs promptly and that you are easy to communicate with. Keep the property in good shape and stay respectful.
  4. Have office hours – This tip goes hand-in-hand with the previous one listed. Have designated hours that you can be reached and encourage your tenants to contact you during those specific hours.
  5. Encourage good behavior – If a current tenant refers another great tenant, be sure to reward them with movie tickets, a gift basket, or a discounted month of rent to thank them.
  6. Inspections before and after moving – Document the home before a tenant moves in and after they move out, and consider going a step further by taking video logs for your records. Have the tenant document and sign off on any damages they see before moving in.
  7. Ensure you’re insured – Check with the state to make sure you have all the proper insurance needed for your properties.
  8. Make payments easy – A lot of people find that paying rent online is easier and more reliable, so look into if that may be an option for you.
  9. Competitive rental rates – Keep a pulse on what rental properties near you are charging and take into consideration your location. You want to be charging close to what others in the area are as well.
  10. Have a team behind you – It takes a village to raise a baby, and it takes another one to take care of a home. Make sure you have professionals you can count on to help you with repairs, answer your questions, and give you legal advice.

These ten steps are just the beginning to properly managing your property. That’s why we’re here! We make it easy to keep your investment secure and make sure everything is running smoothly. Take the stress out of owning multiple homes, and let TALK to do the heavy lifting for you. Give us a call or email us with any questions.