The rental market has boomed in recent years, becoming one of the most lucrative investment opportunities available. According to Property Reporter, new figures released by HomeLet predict the private rental sector (PRS) will continue to grow throughout 2020 and beyond. In some regions, rental figures increased by more than 5% between December 2018 and December 2019.
While this is great news for landlords who have in-demand properties, it can be hard to make your property stand out amidst the others in your area. To attract more attention, you need to find a way of making your property and service unique. This can be done by making things as easy for tenants as possible.
Moving home is statistically one of the most stressful life events we go through with 62% of Brits agreeing on this. By furnishing your rental property, you save tenants from having to find the time and money to do it themselves. And by providing luxury home furnishings in particular, you add a sense of style that entices potential tenants to rent from you over other landlords nearby.
We take a look at the key ways to create a sense of luxury through furniture, lighting and accessories.
Focus on Furniture
To capture the attention of potential tenants, your property needs to have eye-catching furniture that oozes appeal and has style and comfort written all over it. A place to sit and relax is usually at the top of most people’s lists, so it should be your starting point when looking at luxury home furnishings.
Sofas and chairs are the most important items in a living space, as they are where your tenants are most likely to gather. When picking the right sofa for your property, think about the type of tenant you’re likely to attract. Three-seaters are great for young families who need the extra room, but you may be more inclined to put a two-seater in place for couples who want to cosy up after a long day at work.
The most important thing, however, is to find sofas and chairs that have a luxurious vibe to them. People have come to expect a certain level of service, so it’s vital they get value for money. Our plush and comfortable furniture range makes this possible without causing you to break the bank. At LOFT, our aim is to prove luxury can be affordable.
Keep Things Bright
Creating a bright and welcoming ambience is the key to making your rental property more attractive to potential tenants. This is why you should never underestimate the importance of finding the right lighting solutions.
Contemporary pendant shades add a touch of modern class to any space, particularly in living rooms and dining areas which are often used for entertaining guests and unwinding after a long day.
To fashion a more homely atmosphere for potential tenants, consider using table lamps to create added ambience. Sideboards, bedside cabinets and home office desks can all make use of statement pieces that add a touch more style to living spaces. Thoughtful lighting can truly open up a space and make it feel a lot more homely and welcoming, whilst dull, poorly lit spaces can sometimes ruin the aesthetic of a room.
Regardless of what lighting you choose for your property, you can secure more tenants by simply catering to any potential needs. You need to strike a balance when kitting out your property with luxury home furnishings, remembering to mix practicality and function with desirable aesthetics. This is easier said than done, though, and you may need to enlist the help of an interiors partner to make sure your property has the right appeal.
Don’t be Afraid to Accessorise
Some landlords forget to add those little extra touches that make a house feel like a home. If you’re furnishing your rental property for tenants, think about the small things in your own home that make it feel special and unique, and incorporate some of those aspects for your tenants.
Mirrors are excellent luxury home furnishings as they are practical, eye-catching and can make smaller rooms feel more spacious. Mirrors are a cost-effective accessory that you can buy for your property to complete the look of a room. They come in a variety of styles and personalities, so make sure you select the mirror that matches your room style. Large mirrors bring depth by reflecting available light and act as if there was an additional window in the room, which is perfect for smaller or darker rooms.
To add a new level of style and comfort to your property, consider using cushions as they can bring a layer of colour and texture to a room. Best of all, cushions are an inexpensive way to refresh the look of your property or to get it ready for the new season.
Finally, you can make a bold statement with contemporary artwork at a reasonable price. Anything that has its own unique sense of style goes a long way in capturing people’s attention. You want potential tenants to remember your property, as they may be looking at other rentals in the area. If you have that special something on display, your property will remain firmly in mind just for having something different about it.
The Benefit of Luxury Home Furnishings
Decorating your rental property for tenants is a great way to make it stand out from the crowd. Some landlords feel this is unnecessary as it means having to spend a bit more money, but providing luxury home furnishings adds to your property’s appeal and it certainly doesn’t mean having to break the bank.
At LOFT, we firmly believe in proving luxury can be affordable. This is why so many landlords choose us to furnish their properties. Our Interior Designers can help you find the perfect style for your property so you can appeal to more potential tenants and limit the risk of having any dreaded void periods.
Best of all, while you’re aiming to make life easier for tenants, we aim to make life easier for you. This is why our furniture comes delivered, assembled and installed with old, unwanted items removed, replaced and recycled. We’re always on hand to help, so get in touch with a member of our dedicated team today.