INVESTOR CHALLENGE
- For Rent -- Vacation rentals that are not professionally designed are not positioned for raising nightly rates and occupancy rates.
- For Sale -- Most buyers are not able to visualize their belongings in a vacant house.
- For Sale or Rent -- Your un-staged property is competing with the over 90% of properties in your region that are staged for open house; or your vacation rental is competing with the growing number of rentals worldwide that present better in listings.
Investor Solution: Market like a pro
- Rentals -- Hire a professional designer. Vacation property management surveys show that professionally designed vacation rentals get higher nightly rates, and higher occupancy; and guests are willing to pay more for quality.
- Sales -- Stage your sale property so buyers can imagine themselves living in it. Staged properties sell faster and for more.
- Rentals and Sales -- Include a design partner on your team. Designers are trained and practiced at improving the marketability of your property to meet buyers' minimum expectations at open house, and renters willingness to pay more for quality.
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PROPERTY MANAGEMENT COMPANY CHALLENGE
- Vacation rentals need design help to show better and deliver an improved guest experience.
- Most owner-clients do not have professional design experience and are not aware of design mistakes, quality concerns, or how better design positions them for greater profitability.
- Most PMCs offer similar basic services, while the PMC competition and rental market are growing.
Property Management Company Solution: Include a design partner on your team
- Include a design partner on your team like you include maintenance and repair to value the role of each in positioning your brand.
- Offer design consultation as a benefit (you pay) or service (owner pays) at the start of client contracts or for periodic refreshes, for ongoing marketability and profitability of your properties.
- Offer design services as a standard that distinguishes your level of care to owners and distinguishes the quality of your properties.
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REAL ESTATE AGENT CHALLENGE
- Some sellers don't want to invest in preparing their property for sale.
- Many agents lack the certification to act as a credible professional stager for their listings.
- Un-staged properties sell without maximizing equity.
Real Estate Agent Solution: Include a certified stager on your team
- Connect your stager to consult with sellers and investors at the start of the process to reinforce recommendations to prepare properties for sale or rent.
- Include a certified stager on your team to avoid staging mistakes, and focus on what you do best.
- Use staging (a proven method) to get the most profit out of the real estate asset.
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Let's sum up:
Investors are pros at transforming older or distressed properties to meet buyers' demand for move-in ready homes. Investors spend time and money to update kitchens, baths, floors, and fixtures, to transform homes into masterpieces, improving housing stock for us all. Better design means greater returns for vacation rentals, and sale properties.
Property management will have increasing competition, and increasing specializations as more startups join the arena. PMCs can consider how to distinguish themselves with unique, broader, or wraparound services, growing in-house or using partners to fill the gaps.
Agents know staging is the standard for maximizing equity in a property sale. Properties can sell without being fully prepared and marketed, but will sacrifice higher offers -- which is like leaving money on the table, for property owners who have invested in the asset.