If you’re renting out an investment property after buying and improving it, you may want to stage it… because staging it could help you fetch a higher monthly rental price.
Staging a Rental Property
You’ll have to weigh the costs and benefits of staging a property that was empty. You certainly have to make sure it’s spotless (no scuffs on the floors, dings in the walls, or cobwebs in the corner) and clutter-free, but the logistics of staging a rental property may mean it’s not worth the effort.
Remember that you’ll have to find suitable furniture and then:
- Move in furniture yourself (or pay someone to move it in)
- Decorate the walls, which results in more work when you have to take down the decor and patch up nail holes (although Command Strips are definitely a worthy investment)
- Move the furniture out before your tenants move in
If you were selling the property rather than renting it out, it might make a little more sense to stage it – you’d be asking people to make a bigger investment, so you’d have wiggle room to put in more money and effort.
Do You Need a Hard Money Loan to Buy an Investment Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.