Quick Home Decor Tips Before Renting Out Your Investment Property
Budget decorating ideas are among the most creative and important elements to being a good property investor and landlord. It’s easy to decorate a place with limitless funds, however, keeping a low budget while enhancing the perceived value of your property requires imaginations. It is also important to stay organized when decorating on a shoestring budget. This is even more so for shoebox apartment units.
Therefore, you may want to follow these steps for decorating and make sure that you stay within the budget, while looking like a professional landlord.
The first budget home decor tip is to decide on your budget, and to calculate your cash flow so that you don’t fall short of cash while decorating. Don’t forget to factor in the cash needed for electronics, appliances and accessories.
Decorate one room at a time. Managing everything at one go can cause a lack of focus. If you are really short on funds, renting out 1 room at a time can help to alleviate your cash flow. Then move on the next room when the rentals start coming in.
For each room, have a plan, including its theme, style, color scheme, and overall ambience. Set a completion date and stck to it. Time is money when it comes to rentals.
Home decorating on a budget can make or break your bottom line, so make sure that give it enough priority. The last thing you want is for potential tenants to demand discounts because of something that you have slightly overlooked. You want to remove every excuse a tenant can use for rebates.
A common mistake is not taking concise measurements. Draw up a plan of the rooms to scale. Include windows and doors, and choose a focal point in the room. Only then can you plan with precision.
Measure all of your furniture, electronics, and create furniture cut-outs that are drawn to scale. Move them around and visualize the perfect layout before moving things around. This will save you time and effort. Make it appealing to the type of tenant you want to attract.
Ceiling height and traffic flow also has to be taken into consideration. Remind yourself that just because you’re using budget decorating ideas, it doesn’t mean that the home decor has to look cheap.
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