Increase Rental Income with Interior Styling

THE First Impression:

Renting your property can be a profitable and relatively painless route to a regular income stream. However in a market like Cyprus with a surplus of rental properties available, a major challenge is attracting the right guests or tenants, be it for long or short term lets. The most important factor in finding them is the presentation of the property. From the very first glimpse of the images on a rental website, to the moment when a prospective tenant take a judgemental walk around the space, it is their feeling, their intuitive psychology which determines if it’s a yes or a no. As one property rental expert describes it:

“As soon as I walk into a rental for the first time, I look for an instant feeling of “welcome.” As soon as the door is opened, I should be greeted with a space that makes me feel three things: excited to be there, appreciated and at ease in the home.” (The Abundant Host)

Around the world a thriving sub-economy has flourished servicing landlords and helping them make the best of their properties, be it from home-staging for property developers, to full service property management for Airbnb Hosts. And core to all of these services are 2 factors – A: The style and decoration of the space. And B: The quality of the photos.

Airbnb Power:

Airbnb is the letting phenomenon of the past decade. It has been a powerful engine in propelling the demand for attractive rental design and high quality images globally. It has created a huge market of international travellers who have come to expect an extraordinarily high level of domestic design and hosting skills, no matter where they drop their cases.  Cyprus has come to Airbnb relatively recently, but with tourism being an essential part of the economy, there are significant opportunities to be taken advantage of with the ever growing appeal of Airbnb.

We know a lot about the Airbnb market in Nicosia:

• There are 169 listings, the majority being 1 bedroom apartments,
• Occupancy levels are low: whilst 44% of listings are available for 7 or more months, only 2% have actually been occupied for more than 7 months of the year.
• Nicosia rentals deliver on hospitality. The proportion of 5 star review of all reviews  versus others international cities is  strong. In Nicosia 38% of Airbnb listings claim a 5 star review compared to 24% in Rome.

FOUNDiiD knows the added value in revenue that can come from interior styling, so contact us and we can guide you through the € potential at info@foundiid.com.

*Airdna city analysis.

Styling for Success:

There are many routes to delivering the essential presentable and appealing rental home. Some are complicated and expensive, but many simple and affordable. Here are just 2 of the most important.

Home Style: Elegant Canvas or Authentic Home Experience?

The wisest interior styling approach for long and short term rentals divides along 2 clear options. One route is to create an attractively neutral and contemporary space where the tenant can comfortably stay, or visualise themselves adding their own personality to create that home feeling. The other is to offer your personal and authentic living space where a tenant will immediately step into the lifestyle and rhythm of the home’s neighbourhood and culture.

Kitchen and Bathroom Upgrades.

The most important rooms in a home when renting or letting a home are the kitchens and the bathrooms. They can be the most expensive rooms to upgrade, however there are some easy and affordable quick steps which can get you on the road to refresh including:

• De-clutter the kitchen surfaces and straight away you have a larger and calmer room.
• Add new taps, upgrade the small appliances and apply a fresh coat of paint.
• In the bathroom keep the existing bath / shower / sink shell but, as with a kitchen update, change the taps. Upgrade the lighting and refresh with different storage, towel racks and mirrors.

FOUNDiiD can help you affordably style your space. We can  make sure the moment a potential tenant sees your beautiful photos, they anticipate that feeling of excitement and ease when staying or living in your property.

Contact us for a lot more at info@foundiid.com.

Paul-Researcher