Turn a hard-to-market small studio apartment into a high-demand property with simple tips to boost the appeal.
Small studio apartments are often thought of as challenging units for property owners to fill. Striking the right balance between affordability and profitability is the challenge to finding tenants, but if the space is marketed correctly, the pool of potential renters opens up significantly. Proper marketing requires capitalizing on a product’s appeal. Small spaces offer many advantages for smart renters. All it takes is basic marketing prowess and thinking outside the (small) box.
Is the extra money and effort it takes to furnish an apartment worth the work?
Property owners often make tough decisions as to what perks they offer their renters. For many years, utilities-included rental options (heat, energy and water) were a competitive advantage. Nowadays, additional specialized markets have arisen to address more specific renter needs (like small-space studios), so property owners must adapt and offer new services to fit these changing market needs. One such marketplace is fully furnished apartments. Some renters don’t want the hassle of moving furniture into an apartment or worrying about choosing décor. Others have temporary situations, like work or school, which makes a fully furnished apartment very appealing. But is the the extra money and time it takes to furnish an apartment worth it for landlords?