EcoNest, Johor Bahru
If you've been following our previous article, you would have gotten some insights about some important questions we generally ask ourselves prior to making over a property. We've covered most of the basics so far, such as tips on how to understand your customers (the tenants), the importance of providing items that are easily replaceable and of course the necessities in providing for your customers' needs. If you've overlooked them please check them out here!
So, let's see what's the next question worth asking?
Question No. 4: What can I do to avoid burning a hole in my pocket?
I'm sure this is a question that is generally not missed by ya'll! Nevertheless, it's a rather important topic to discuss. Let us give you a few suggestions on how you could avoid setting fire to your budget and make your rental more attractive.
Avoid emotional purchasesWhen purchasing furniture for rental properties, sometimes we allow our emotions to take over our senses and end up spending way more than we intend. Despite the best of planning, it happens to the best of us. We have discovered a good way to stop yourself from over spending is to create a list and set a reasonable budget for purchases. Following this approach will help you avoid making purchases out of high stress situations or as a reaction to a bad day. You will also avoid making purchases that will burn a huge hole in your pocket!
Making the ordinary extraordinaryDon't forget the small touches. Most people think of purchasing the basics when considering furnishing their rental, and forget the small details that make their rental stand out. When considering choices for your rental, make sure that you put soft touches on your list. A little lamp, bedding and throw pillows will add minor touches that have major impacts on the look of your rental. It will also make your property standout among other listings.
Think about your potential customersThings change, as does the needs and comforts of renters. What wasn't a necessity, might become a necessity later. Think about the trends in renter needs in the future when making purchases. Once air-conditioners were a luxury item that most people would cut off of their list, now air conditioners have become a need rather than a luxury.
Do your researchMake sure you do your research. We have found the best way to avoid the flame of debit burning a whole in your planning pocket is to do your research. Investigate prices to see which store will offer you the best price for what you need. In doing so, you can get the best price for the items on your list. Again, research is the best way to avoid the flames of debit burning holes in the pockets of your budget.
We sure hope that your question was answered and our suggestions were helpful. If you still have questions, don't forget to get in touch with us! We're always just a FB message away.
Here are some pictures of EcoNest's show unit that our amazing team in JB completed recently. It was created in collaboration with property developer EcoWorld and we are utmost grateful for the opportunity!