Despite the emergence of a new Covid-19 variant, Singapore’s officials are still hopeful that the country will be able to safely open its borders in the coming year. A lot of those people coming in aren’t just going to be flying in for a quick vacation, either.
As a property owner, it’s in your best interest to get ready for this new wave of short to long-term residents. Most expats who move to Singapore will opt to rent a unit once they arrive and start their new jobs. That unit could very well be yours! Here’s how to make the most of the opportunities coming your way in the next year.
The First, Biggest Step
Put yourself in the shoes of an expat. You’ve just got a new job in a foreign country. As exciting as everything is, there’s lots of adjustment left to do. Unless you’ve managed to land a cushy gig at an MNC, most likely you’re going to have to sort out your living situation yourself. As you go through property portals looking for your new home, there’s going to be 1 specific type of property you’re going to subconsciously rule out from even looking at… an empty one.
So, your job as a property owner is simple. If you’re specifically looking for renters, you have one main responsibility before you hand off the work to a real estate agent. You need to furnish your property!
Why This Is So Important
Arguably, this step is most crucial. We’re not just talking about home staging, either. As helpful as home staging is when trying to sell properties off, renters have different expectations when they come in for property viewings. If someone comes in to check out a property they’re looking to rent, their expectation is the furniture they see is the furniture they’ll be able to use immediately upon moving in.
When expats come to Singapore, most often they’ll just have their luggage and their savings. Moving to a new country is tough enough as it is, buying furniture will just add another layer of difficulty to that. For lots of potential renters, that can make all the difference.
Sourcing Your Furniture
So where does this leave home staging, one of the most vital steps of preparing your property for sale or rental? You definitely can still request home staging, as home staging services will be able to build on the foundation that you lay out with the basic pieces of furniture you’ll initially provide.
However, if you’re starting from scratch, sourcing all the furniture you intend to use from home staging services might not be so cost-efficient. That applies to both you and your potential renters. Home staging for rental purposes specifically means you’ll need to rent the furniture used for staging long-term.
Thankfully, here at Singapore Furniture Rental, we’re currently in the process of clearing out our inventory as the year ends. Feel free to browse our through our Carousell page to get started with filling out your property.
Whether you source this furniture via home staging, furniture rental or just purchasing sets outright for your bare unit, it doesn’t matter. The result will always be the same. Furnishing your property so it’s immediately ready for occupancy will make it far more appealing to renters, especially expats!
Consider Both Form and Function
It’s a given that if you’re hoping to get people to want to rent your property, you’ll want it to look good. But you’re not going to need to have fancy interior design work done to achieve this. You’re just going to need the right pieces in the right places. The best way to immediately communicate value and function to your potential renters is to pick smart, functional furniture or appliances for the main rooms of your property.
As the property owner, you’re mostly only going to need to get headache items out of the way for your potential renters such as living room furniture, kitchen appliances, and beds. Furnish your property like how you would if it was a simple hotel room with a kitchenette or full kitchen.
Over time, your renters will purchase appliances or pieces of furniture they may need for their specific lifestyle. That’s also why it’s in your best interest to give them space for those future items. People can get very particular about their appliances and personal electronics, so you’re going to want to give them room to express themselves in that way.
Likewise, when it comes to decorating the space, don’t go overboard. A few photo frames on the walls, maybe some on some dedicated display shelves should be enough.
Furniture can make such a significant impact on how your property is perceived.
With the right, functional pieces of furniture, your potential renters won’t see your property as a showroom. They’ll see it as potentially, their future home.