I know I promised that my next post would be the eagerly anticipated "Tips for Staging Multiple Models in One Complex" but after fielding an offline question from the amazing Michelle Minch I felt I had to post a quick follow up to my recent post "More Tips for Staging Model Units."
As I covered in the original post, models will generally be on the market longer than a regular home (6-12 mos or more depending on how many units are in the development). I mentioned that it is a good idea to ask your furniture rental company about discounts for longer term rentals. However I forgot to mention another very important option:
Consider purchasing the furniture instead of renting.
Of course if you own your own furniture inventory you are probably saying, "DUH!" about now. But many of us have chosen (for various reasons that constitute a WHOLE other post) to rent our furniture from outside sources, rather than purchase it.
If you are one of those who rents your furniture it is likely you will at some point find yourself in competition with Stagers who own their own inventory. Though you may meet or beat their upfront 3 month pricing, you cannot compete with their renewal costs. Many Stagers who own their own furniture drop their monthly renewal rates to a flat $1000/month after the initial lease term is up. (This per-month rate may be different in other parts of the country, but here in Los Angeles this is the number I most often hear.) Despite your competitive bid on the upfront lease, the developer may have no choice but to go with the less expensive renewal option since his model could be on the market for a year or more.
So for those of us who choose to rent versus buy, this may be the time to make an exception. The reasons are simple:
a) The price of purchasing the pieces, when amortized over the length of a typical model lease term (6-12 mos) may actually be equal to or lower than renting the comparable items.
b) Many models are sold furnished, so you may be able to actually make additional cash off the sale of the items you purchased without ever having to deal with removing the furniture from the unit! When you provide your quote for the Staging, consider including a "buyout" price to the developer so that if he's asked by potential buyers about purchasing the model furnished, he will have the price already in hand. He may even decide to mark up his purchase price to include the furnishings. Either way he will have the info he needs. You should also stipulate exactly what the buyout price includes (for example: furniture and rugs, but not art or accessories) so that you don't get stuck giving up your favorite silk tree or vase.
c) If your client does not want to purchase the items once all his units have sold and you have a storage unit or an empty garage at home (HAH! What Stager has an empty garage?) you can de-Stage the property and then sell the furnishings on Craig's List or StagersList to make something extra off the sale of these pieces. OR who knows, these pieces could be the beginnings of your own rental inventory if you so choose!
Coming soon...
Tips for Staging Multiple Models in One Complex (Seriously this time.)
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Annie Pinsker-Brown | Stage to Sell
Owner & Principal Designer
310-384-1084
www.stagetosell.biz
"We get you to SOLD so you can get on with your life!"
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Stage to Sell is the premier West Los Angeles Home Staging Company.
Owner & Principal Designer Annie Pinsker-Brown is an ASP (Accredited Staging Professional), a member of IAHSP (International Association of Home Staging Professionals), an affiliate member of the Beverly Hills/Greater Los Angeles Association of Realtors and a member of the Culver City and West LA Chambers of Commerce.
Annie has Staged LA homes for Bravo's hit show "Million Dollar Listing" and TLC's "Property Ladder." She has also been featured in recent articles on Home Staging in Los Angeles Magazine, The New York Times, Costco Connection and Frontiers Magazine.
If you would like to see more of our Home Staging work, visit our website. There is an extensive gallery of before & after photos, as well as a list of our Staged properties currently on the market.
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