Introduction

What is Virtual Staging in Rental Listings? 

By now, you’ve probably noticed that many property managers, management companies and landlords have staged photography in their listings. It looks great - with furniture and decor to match the style, age and condition of the property. But how are they managing a full home stage just for a listing? It doesn’t seem to make much sense financially. Here’s how: your competitors are virtually staging their rental listings. That means that the fully designed space you see in the listing is only there virtually. It’s only the photos that are staged, not the actual spaces themselves. 

Focusing on Property Presentation

In the property management and rental property industries, presenting the homes in their best light helps generate interest, which can increase applications and tours/foot traffic. Traditionally, renters are accustomed to viewing rental listing photos unfurnished. That means they have to use their imaginations to envision themselves living there. As property managers, you want to remove every extra step requiring brain power for potential tenants to be interested. Imagine if you could show them three different photos with three different furniture and decor styles of the great room. Chances are, at least one of them would “click” and they’d be able to visualize themselves in your space.

How is Virtual Staging Revolutionizing Property Management? 

In the same way that traditional staging revolutionized real estate marketing, virtual staging is drastically changing how property managers approach marketing. Virtual staging is quick, affordable and only has to be done once.Then you have beautifully staged images to post every time the unit becomes available. 

Understanding Virtual Staging

How Does Virtual Staging for Property Management Work?

Essentially, virtual staging is kind of a mash-up between  photo-editing and interior design/staging skill. So the first step is to get high-quality professional photos. You can use photos you take yourself, but your result will be much better with high quality photos. And provided you don’t make any major renovations to the unit (s), you’ll be able to use the photos over and over. It’s truly a one-time expense that pays for itself very quickly. 

Once you have your pro photos, the next step is to contact a virtual staging service. Make sure to spend a few minutes on the website of at least a couple different companies. Visit their online galleries to make sure their design styles are consistently high-quality, and that you like their overall design look. It can also be helpful to check their reviews on sites like Trust Pilot. 

After choosing the virtual staging company you’d like to use - typically you upload your photos on their website. There will be a space for notes with each photo if you have a specific vision in mind. Oftentimes, it’s helpful to give just a general idea of what you’d like to see and let the creative professionals work their magic. You’ll also pay for the virtual staging prior to them starting the work. 

After you order and pay for your staged images, you can expect a confirmation from the company that they’ve received your order, along with a time estimate. Typically it’s 24-48 hour turnaround for staged photos. Most services will send a link to a gallery where you can view and download the images. 

Occasionally, revision is part of the process for virtual staging. If you have revision requests, it’s helpful to type them all out and send them over at one. This way, the virtual stagers can send your order to their revisions queue and get everything back to you at the same time. It helps with organization and order-flow. 

One you’re fully satisfied with your staged photos, you can upload them to everywhere your property is listed. You’ll probably notice an increase in views and applications right away. 

Why is Virtual Staging Useful in the Rental Market?

Enhancing Property Appeal

The concept of virtual staging is really to enhance a property’s  appeal to the widest variety of potential renters. It’s quite simply a marketing tool, and it can be a really effective one. Just as with the home sale and real estate market, developing interest and increasing foot traffic is vital to the end-goal of renting units quickly and with highly qualified tenants. 

One great feature of using virtual staging is that it improves the look of properties at every price-point. If you’re listing a small, older one bedroom unit in a small duplex -- the vacant photos aren’t really going to be a huge selling point. But, if you can get quality virtual staging that creates a tiny bit of distraction from the homes’ imperfections, that goes a long way in improving views of the space. 

Now consider a $5,000.00 per month unit in a San Francisco or New York high-rise building. Even though it’s likely in great shape with attractive elements, the photos without any decor are lackluster. Virtually stage an apartment like this just one time and you’ll see the difference it can make. 

With both types of home rentals, virtual staging increases potential tenants’ ability to visualize themselves in the space. That can lead to quicker decision-making, and less time on the market for landlords and property managers. 

Cost-Effectiveness

If you’ve ever used traditional, live staging for a home sale or rental you know that the costs begin in the thousands, and go up to tens of thousands of dollars on a monthly basis depending on the size and style of the home. Thankfully, virtual staging is exceptionally affordable especially when you consider the return on your investment that’s possible when you use it. 

Virtual staging costs are typically charged on a “per photo” basis. A small apartment might only need five or six images staged; but a larger home might require 20 or more. Once you have the staged photos, they’re yours forever and you can reuse them again and again. 

Most virtual stagers charge between $25 - $75 per photo. This is a wide range especially if you’re ordering 20 photos. Choosing a staging firm somewhere in the middle is probably your best bet. The least expensive staging service is probably not going to provide the best quality --both in terms of design and effective communication with you. 

While the upfront cost of hiring a professional photographer and then a virtual stager can seem higher than what you typically pay to list your rental units, the return on your investment is considerable. We already know that staged listings in real estate sales sell quicker, and for more money. The same is proving to be true within the property management industry, as well. People want beautiful things. If you’re photos aren’t truly beautiful, you’re leaving money on the table. 

With nearly 100% of renters initially viewing a home online - each listing needs to be marketed online to its top potential. Virtual staging ensures this. 

Flexibility and Customization

Virtual home staging allows for nearly unlimited customization, which is an enormous selling-point. Different architectural styles, different interiors and different neighborhoods mean that each home can be staged with furnishings and decor specific to the target demographic and goals of the management company. Libraries of digital 3d furniture models are enormous with tens of thousands of items, so every desired look and design can be accommodated.

Virtual staging also allows for flexibility within the home, as well. If there’s a 5th bedroom, it can be staged once as a bedroom and again as an office or playroom. This helps tenants grasp the flexibility of the space. 

The Role of Virtual Staging in Property Management

Virtual staging has emerged as a transformative tool in the property management and rental industries, offering a modern solution to an age-old challenge: presenting properties in their most appealing light to attract potential renters. As we have explored, this innovative approach combines photo-editing and interior design skills to create visually stunning, virtually staged images that significantly enhance the marketability of rental units. By eliminating the need for physical staging, property managers can save time and resources while presenting a varied array of decor styles to appeal to a diverse audience of prospective tenants.

The benefits of virtual staging are manifold. First and foremost, it enhances the aesthetic appeal of rental properties, making them more attractive to potential renters. This is particularly beneficial in competitive rental markets, where first impressions can make a significant difference. High-quality, virtually staged images can capture attention and spark interest, leading to increased inquiries and applications. Moreover, virtual staging offers the flexibility to showcase different styles and layouts, allowing potential tenants to envision how they could personalize the space to suit their tastes.

Additionally, virtual staging provides a cost-effective alternative to traditional staging methods. While traditional staging can be expensive and time-consuming, virtual staging is a one-time expense that pays off quickly by attracting more qualified tenants. The efficiency of this process means that property managers can have beautifully staged images ready to use whenever a unit becomes available, streamlining the marketing process and reducing vacancy periods.

The adaptability of virtual staging makes it suitable for properties of all types and price points. Whether it's a modest apartment or a luxury penthouse, virtual staging can elevate the property's appeal and distract from any imperfections. This broad applicability ensures that property managers can leverage virtual staging to enhance the presentation of their entire property portfolio.

Furthermore, virtual staging aligns seamlessly with the digital age. In today's online-driven world, prospective tenants often begin their property searches on digital platforms. High-quality visuals play a crucial role in capturing attention in this digital landscape, and virtual staging provides the tools to create captivating images that stand out in crowded online listings.

In conclusion, virtual staging is revolutionizing property management by offering a versatile, efficient, and cost-effective solution to the challenges of property presentation. It empowers property managers to showcase their rentals in the best possible light, attract a wider audience, and ultimately secure tenants more swiftly. As the property management industry continues to evolve, embracing innovative technologies like virtual staging will be key to staying competitive and meeting the demands of modern renters. By leveraging the power of virtual staging, property managers can enhance their marketing strategies, reduce vacancy rates, and achieve greater success in the rental market.