6 Practical Tips From Local Interior Designers Before You Lease Out Your Unit
Many individuals believe in the returns of smart investments. With the metro becoming a hotspot for real estate investments, many condo owners are now listing their properties for rent. If you’re planning to lease out your space, here are a few smart tips from people in the design industry to make your rental unit appeal to more clients:
1. Identify your target market
Consider the future end user of the rental unit before having its interiors renovated. Placing yourselves in the shoes of the potential target market will enable you to envision the type of space to have. According to Primea Design Group Co., consider the possible lifestyle of the end user. Identify the amenities the potential renter would likely need inside the unit. Should the target market be students, incorporate the basic needs of a student. Include a cozy sleeping area, shelves for books, ample storage for clothes, and a study area they could use.
2. Keep it neutral
While landlords can opt to have their units designed according to the needs of a specific target market, they can also choose to leave it blank. “If you don’t have a client profile to work with, choose a color palette that would be appealing to different kinds of people,” shares interior designer Trisca De La Paz of Triptych + Co. A neutral color scheme of gray, white, or beige is what usually appeals to potential renters.
3. Refrain from a specific design style
Avoid going for a specific design style for the rental unit. Trendy styles such as industrial, country, or Scandinavian are tricky as they tend to go outdated after some time. According to interior designer Rock Robins, it’s better to go for something neutral with classical flairs that would be timeless even after a couple of years.
4. Use ultrasmart pieces
As condo units have limited spaces, finding the right pieces is key. “Use multi-functional furniture pieces such as an ottoman that can double as a center table, foot rest, or side table,” shares Triptych + Co. Consider foldable pieces like dining tables that can expand up to six seating or a space-saving sofa that doubles as both sitting and sleeping lounger.
5. Go for short-term rental plans
“When we saw that the market for Airbnb was picking up, we ultimately decided to up our units for short-term rentals,” shares Jojo Cruzado of MVRX Designs. It’s easier and cheaper to maintain your rental unit if it can be tidied up at least once a day or a week than having it rented up for long-term only to see dilapidated walls, worn-out furniture pieces, or broken appliances in the end.
6. Consider the housekeepers
Make the rental unit simpler and easier for the housekeepers to clean by providing open shelves and organized baskets. “The lesser the closed storage, the easier for the housekeeper to clean because at least if the shelves are open she can easily see if the guest has left anything in the unit,” architect Patrick Espiritu of PXP Design Workshop shares.