I don’t know about you but sometimes I have a hard time creating something I like – BUT – when I see something I like, I know it! I am great at copying things I like I just have to see it first.
True Story: Last year I had a corporate rental that I decided to sell – sure it had been a rental property for 10 years but I thought someone would appreciate the deal and buy it as a fix property. WRONG: I was wrong. I guess I am not the only person who has issues visualizing corporate rentals design and also people these days just don’ have the time and energy to fix things up.
We had 70 showings over two months, we dropped the price from $389,000 to $369,000 and not even an offer.
So we finally got the message. We took the property off the market. We upgraded the flooring, the lighting and the paint. We hired a professional stager. We hired a professional photographer. We listed the property for $400,000. In two weeks we had the property under contract ALL CASH for $390,000.
Lesson Learned: Create a great looking property. Create a great visual story. The result will be more money in your pocket.
Rental Upgrade Story: A few years back a corporate housing rental I had in another state came available. Unusual for that market I couldn’t figure out why it hadn’t rented. I decided to take a trip and visit the property.
Fact: The property looked dated.
Action: New Paint and less than $1000 in property design upgrades.
Result: The property rented for $700 more per month.
Ideas: Need some visual ideas visit Houzz.com or for Corporate Housing Ideas take a look at The Corporate Housing Handbook available for free in your CHBO Dashboard or in print from Amazon.com.