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Apache is functioning normally

Apache is functioning normally

Only 3 in 10 Medicare beneficiaries shop around during open enrollment, according to a 2022 analysis from KFF, a health policy nonprofit — and only 1 in 10 Medicare Advantage enrollees voluntarily switch plans. But a 2020 analysis of Medicare Advantage plan choices by the National Bureau of Economic Research found that more than half of beneficiaries overspent by more than $1,000 due to the plan they selected.

Medicare open enrollment is Oct. 15 to Dec. 7, giving people with Medicare a chance to change plans for the upcoming year. Although potential Medicare Advantage enrollees may be swayed by $0 premiums and extra perks like vision and dental coverage, there are more important features to explore when you’re choosing next year’s coverage.

Here are some practices to avoid as you shop for Medicare Advantage this fall.

1. Thinking Medicare Advantage is Medicare

If you’re considering Medicare Advantage, understand that it’s not the same thing as government-provided Medicare. It offers the same benefits, but Medicare Advantage is run by private health insurance companies and it operates differently.

“You are essentially taking the Medicare coverage that you’ve been provided by the government and turning that in,” says Melinda Caughill, co-founder and CEO of 65 Incorporated, which offers Medicare guidance.

You can switch back to Original Medicare during each year’s open enrollment period, but you may not be able to qualify for an affordable Medicare Supplement Insurance, or Medigap, plan once you’re past the one-time Medigap open enrollment period. (Medigap helps with certain out-of-pocket costs not covered by Original Medicare.)

2. Assuming your doctors are in network

Medicare Advantage plans operate within networks of medical providers, and you usually must see in-network doctors for covered care.

“A lot of people don’t realize that — especially those $0-premium plans — they tend to have fairly confined networks,” says Emily Gang, CEO of the Medicare Coach, a site that provides Medicare guidance. “You want to double-check that your doctor is actually an approved provider in that network.”

Ask your providers what insurance they’ll be accepting in 2024, suggests Sarah Murdoch, director of client services for the Medicare Rights Center, a nonprofit consumer advocacy organization. It’s easier than trying to check each plan’s network individually.

3. Not checking your drug coverage

Like network providers, Medicare Part D prescription drug coverage can also change each year. Your drug plan might cover one of your medications differently in 2024, leaving you with more out-of-pocket costs than you expected.

“If you take even one brand name medication, your need to compare plans is incredibly high,” Caughill says. No brand names on your list? Shop around if you take five or more medications in general.

4. Buying for the dental benefits

Medicare Advantage plans usually include benefits that aren’t part of Original Medicare, such as dental, vision or hearing coverage. These extras may be appealing, but don’t let them steer your plan choice.

“First of all, it’s health insurance — so how is it going to cover your health care providers and your medications?” says Katy Votava, who holds a doctorate in health economics and nursing and is president and founder of Goodcare, a consulting firm focused on the economics of Medicare. “If you pick [your plan] for a benefit that isn’t health insurance, you’re often picking wrong. And the dental benefit is pretty limited in all these plans — it’s a couple of cleanings and some bite wings.”

5. Looking at the premium only

The majority of Medicare Advantage enrollees are in plans with no premium, meaning you pay nothing each month for the plan. “People see that $0 premium and they’re like, ‘Oh, it’s free,’” Gang says. “And it’s not.”

Research the rest of the plan’s costs before you sign up, including deductibles, copays, coinsurance and the out-of-pocket maximum, which is the most you might have to spend on covered care in a year. In 2023, the out-of-pocket max can be as high as $8,300 for in-network care.

6. Buying because your friend has it

People eligible for Medicare are bombarded by information during open enrollment, and it can be overwhelming. “They don’t shop,” Votava says. “They go with name recognition or what their friend has.”

The better choice: Focus on your own situation and find the plan that meets your needs.

If you need help, contact your State Health Insurance Assistance Program, or SHIP, for free Medicare guidance. Just don’t wait until the last minute, because appointments fill up, Votava says. “If you need individual help, you’d better get on the list.”

This article was written by NerdWallet and was originally published by The Associated Press. 

Source: nerdwallet.com

Apache is functioning normally

Apache is functioning normally

Real estate investment trust Rithm Capital Corp has entered into a definitive agreement to acquire Computershare Mortgage Services Inc. for about $720 million, the companies announced Monday. The deal includes the purchase of Specialized Loan Servicing LLC.  

The deal represents the second major acquisition that New York-based Rithm, which operates NewRez, Caliber and other businesses, has announced in the past three months. In July, the company struck a deal to acquire Sculptor Capital Management Inc. for $639 million, leading to a dispute among the shareholders at the asset management firm.  

Rithm’s deal with Computershare will add a mortgage servicing rights (MSR) portfolio of about $136 billion in unpaid principal balance (UPB) to the company. It includes $85 billion in third-party servicing and the Specialized Loan Servicing’s MSR portfolio.

“Our track record of acquisitions in the mortgage servicing space continues to deliver value not only for our shareholders but also for the millions of consumers we serve,” Michael Nierenberg, chairman, CEO and president of Rithm Capital, said in a statement. 

Rithm expects to conclude the acquisition in the first half of 2024. 

Following the deal’s closing, Specialized Loan Servicing portfolio and operations will be under Newrez, the 8th largest U.S. mortgage lender in the first six months of 2023, with a production of $17 billion in loans, per Inside Mortgage Finance data.  

Newrez was also the fifth largest company in owned mortgage servicing in the second quarter, with a $540 billion MSR portfolio. Computershare Loan Services was No. 36, with $53 billion in total, according to the IMF data. 

Rithm intends to use a mix of existing cash, available liquidity on the balance sheet and additional MSR financing to close the Computershare deal. 

Rithm had 1.8 billion of total cash and liquidity to support its acquisitions at the end of the second quarter. From April to June, Rithm delivered a $357.4 million GAAP net income — higher than the $68.9 million the prior quarter.  

So far this year, the company has also invested $145 million to purchase $1.4 billion of consumer loans from Goldman Sachs and purchased 371 newly built single-family rental properties from Lennar.    

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

All is not well in Pasadena, at least not for one of the nation’s largest independent mortgage lenders.

Indymac Bancorp saw its shares fall nearly 20 percent over the last week, and the company now faces the strong possibility of trading below $1.

In recent weeks, Indymac has faced a series of class action lawsuits for what attorneys called “materially false and misleading statements” regarding the company’s operations and financial results.

While Indymac denied the claims, it’s clear that investors have gotten a raw deal, considering the stock is now down nearly 97 percent from its 52-week high.

Last Thursday, Indymac CEO Mike Perry attempted to put his employees at ease by claiming the company was strong in the liquidity department, though he also recognized the fact that it would need to raise capital to guarantee “long-term health.”

At the end of last month, UBS analyst Eric Wassterstrom said the lender would need to raise capital to stay afloat, speculating that Indymac may need to part ways with its profitable reverse mortgage unit Freedom Financial.

The company had previously relied upon its stock purchase plan to raise capital, but with shares trading so poorly, that option is all but out the window.

Indymac said it made $2 billion in loans in May, off 13 percent from April production of $2.3 billion, although its pipeline grew nearly seven percent, signaling stronger June results.

Shares of Indymac were down 7 cents, or 6.48%, to $1.01 in early afternoon trading on Wall Street, dipping as low as $1.00, but no further.

Update: Shares of Indymac ended the day down 28 cents, or 25.94%, to a mere 80 cents, sinking at one time as low as 75 cents.

According to the WSJ, Senator Schumer sent letters to Indymac’s regulators regarding the company’s financial health, noting that the lender had $10.4 billion in advances from the FHLB of San Francisco as of the end of the first quarter.

(photo: koruto)

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

The recently completed $300 million-plus acquisition of Home Point Capital by Mr. Cooper provided an attractive opportunity to bolster the company’s existing mortgage servicing rights (MSR) portfolio, and it’s expected to boost the company’s bottom line within the next couple of quarters.

This is according to Jay Bray, CEO of Mr. Cooper, in an interview on HousingWire’s Housing News podcast hosted by HW Media CEO Clayton Collins.

“We’ve known the management team [at HomePoint] well, [and] we’ve talked to them over the years about different strategic options,” Bray said. “As we entered the year, we felt like there was going to be an opportunity to buy some MSRs, and HomePoint presented a wonderful opportunity.”

Part of that stems from its large portfolio predominantly composed of Fannie Mae and Freddie Mac-backed loans, and aligned with Mr. Cooper’s own strengths, Bray explained.

“We just felt like that made a ton of sense,” he said. “We can add [them] to our platform without a lot of incremental costs, and continue to grow the platform that we’ve discussed over the years. And so, it just made a lot of sense for us.”

Bray said incorporating the company and its $84 billion in MSR assets has proven to be a smooth process so far, adding that it made a lot of sense for Mr. Cooper to explore strategically.

When asked about the differences in complexity between acquiring a company and an MSR portfolio, Bray explained that this particular acquisition was not very complex since Home Point Capital had spent much of the last year “simplifying their operation,” he said. That actually created more commonality with an asset purchase, he explained.

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“Once we got to the stage where we were able to execute on a transaction, really, all that was left was predominantly the servicing asset,” Bray said. “And the servicing asset was being subserviced, so they just didn’t have a ton of operations [or] people that were supporting that asset. So, it was almost like buying an MSR asset.”

Prior transactions Mr. Cooper has been involved in were comparatively more complicated since they involved bringing over people and associated platforms in addition to the companies themselves, Bray said. 

“We’ve done more, I would say, asset transactions than really true company or platform transactions in the past,” he said. “We can certainly do either, but the complexity of HomePoint was pretty simple because they had really simplified their operation. So, that’s really the way to think about it.”

When asked about any added complexity existing subservicing relationships may add to an acquisition, Bray explained that Mr. Cooper typically pulls any related subservicing into its own platform.

“We view our platform as, if not the most efficient, one of the most efficient platforms out there,” Bray said. “And so with our scale, size [and] profitability, it always makes sense to move it onto our platform. Now, there may be a period of time that we keep it at the subservicer just from a logistics [or] approval standpoint, but we generally always move it to our platform.”

There were no real surprises to be found in the transaction process that were not previously identified by prior due diligence conducted by Mr. Cooper, Bray added.

Listen to the full discussion with Jay Bray on the recent episode of Housing News.

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Effective immediately, Indymac has halted all retail and wholesale forward loan production, according to a letter sent to shareholders on behalf of CEO Mike Perry, posted on the company’s blog.

Indymac will continue to process and ultimately fund locked loan applications, but will no longer accept rate locks or new loan submissions in forward mortgage lending channels, aside from its servicing retention channel.

As a result, Indymac plans to cut 3,800 jobs over the next couple months, with most sticking around in the company’s servicing department or reverse mortgage unit Freedom Financial.

Employees who have been with the company for five or more years will receive a minimum $20,000 severance pay package, which seems generous given the severity of the ongoing mortgage crisis.

However, most employees will receive just 30-days severance, as the company was forced to eliminate a program that provided one month of pay and one month of paid insurance coverage for each year of service with the company.

Perry explained that the struggling mortgage lender had been in need of some serious capital, but wasn’t able to raise it through traditional means, and chose not to pursue a firesale of assets, which could have depleted capital further.

Additionally, he noted that federal bank regulators have informed Indymac that it is no longer “well capitalized,” and as a result, is no longer permitted to accept new brokered deposits or renew existing ones unless it receives a waiver from the FDIC, which is currently pending.

That left the Pasadena, CA-based mortgage lender with little choice but to halt nearly all lending activity, which was a drain on the company’s balance sheet.

Going forward, the company will focus on reverse mortgage lending and loan servicing/retention efforts, which could generate roughly $5 billion to $10 billion of new GSE/FHA loans per year.

Perry expects Indymac to report a larger second quarter loss than the $184.2 million loss experienced in the first quarter of 2008, though he couldn’t provide an estimate given the number of uncertainties surrounding the company at the moment.

He has also made a request to Indymac’s Board of Directors that his base salary be reduced by 50 percent as a result of today’s news.

Shares of Indymac slid 21 cents, or 29.58%, to 50 cents in after hours trading.

(photo: shalloworks)

Source: thetruthaboutmortgage.com

Apache is functioning normally

Apache is functioning normally

This statement from the Fed is classic Fed at work.

The Fed has not helped its own cause here, as Austan Goolsbee, president and CEO of the Federal Reserve Bank of Chicago, said in a speech last week: “I’m still trying to process why long-end interest rates are increasing.”

My answer: “Stop talking about raising rate at this stage with a hawkish outlook!”

The Fed has expressed that real yields, meaning where inflation is currently and where rates are, are restrictive to the economy, so sounding hawkish on monetary policy at this stage can lead the bond market to go higher more than the Fed would like. Land the plane, folks, land the plane! 

As you can see in the chart below, it was another wild week in the bond market. Mortgage rates went from 7.39% to a high of 7.65% and ended the week at 7.44%. Before last week the high for mortgage rates this year was 7.49%.


The bond market has been volatile, but after the 10-year yield broke the 4.34% level, I am watching for the 4.63% level. A close above that and follow-through bond market selling could lead to higher mortgage rates. Hopefully, the last two weeks caught the Fed’s attention. If they cared about a soft landing, which I have been skeptical about from the start, as I talked about here on CNBC, the Fed would be more mindful of what they say and do.

Weekly housing inventory data

One of the things I got wrong this year is that I believed if mortgage rates stayed higher for longer, active inventory would grow between 11,000 and 17,000 for at least some of the weeks; that hasn’t happened recently with higher rates — close but no cigar. T

Last week, the growth of active listings slowed to 6,808. Seasonality is kicking in now, but we should be able to continue growing housing inventory like we did last year, as higher rates slow sales down, keeping homes on the market longer.

Last year, the seasonal peak was Oct. 28. Last week, according to Altos Research:

  • Weekly inventory change (Sept.22-29): Inventory rose from  527,938 to 534,746
  • Same week last year (Sept. 23-30): Inventory rose from 556,865 to 561,229
  • The inventory bottom for 2022 was 240,194
  • The inventory peak for 2023 so far is 534,746
  • For context, active listings for this week in 2015 were 1,187,2000

After some volatile weeks with the new listings data, things look similar to earlier in the year when we had an orderly seasonal decline in new listings data, which has been trending at the lowest levels ever for over 13 months. Even with rates spiking, the new listing data hasn’t created another new leg lower. This is important, as I expect flat to slightly positive data soon due to a shallow bar.


Historically, one-third of all homes have price cuts every year. Last week’s price cuts were lower than last year at the same time by 4%. This is happening even with rates over 7% and part of the reason is that housing inventory has been negative year over year since mid-June. As mortgage rates move higher, the percentage of price cuts can grow but it’s trailing last year’s percentage as home sales aren’t crashing like they did last year.

Price cuts for last week over the years:

  • 2021: 29%
  • 2022: 42%
  • 2023: 38%

Purchase application data

Purchase application data was 2% lower last week versus the previous week, making the year-to-date count 17 positive prints, 19 negative prints, and one flat week. If we start from Nov. 9, 2022, it’s been 24 positive prints versus 19 negative prints and one flat week. The week-to-week data has gotten softer since mortgage rates have been trending above 7%. However, it’s not crashing like last year because we are working from a lower bar.

The week ahead: It’s jobs week! (If the government is open)

If we don’t have a government shutdown, the week ahead will be jobs week again! The Fed was happy about labor data last month as job openings have been falling, and the job growth data is cooling down. However, jobless claims are still going strong, so they have more work to do in attacking the labor supply. In addition to jobless claims, this week we will also have job openings, the ADP jobs report, and the BLS Jobs Friday report, which could move the bond market this week.

Also, I will watch this week to see if more Fed members comment about rising long-term rates. The Fed would like to keep rates higher for longer, but if the bond market gets a whiff of any terrible recession data, it will take yields down. So far, jobless claims data hasn’t given them any reason to do so.

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Since ICE announced plans to acquire Black Knight in May 2022, the firm went through a bumpy 16-month-period facing antitrust concerns from the Federal Trade Commission (FTC), lawmakers and trade groups. 

FTC sued ICE earlier this year alleging the two top mortgage technology providers would drive up costs, reduce innovation and limit lenders’ choices for mortgage origination tools. 

In an effort to save the merger deal, the two companies agreed to sell Black Knight’s Empower loan origination system and product and pricing engine (PPE) unit Optimal Blue to a subsidiary of Canada’s Constellation Software. 

Under the agreement between the FTC and the two mortgage tech providers, ICE completed the sale of Black Knight’s Optimal Blue and Empower in September.

ICE affirmed that Optimal Blue is still available to its customers, who are the largest consumers of Optimal Blue Solutions. 

In parallel, ICE plans to develop its own PPE to provide additional options to lenders and partners, ultimately lowering the cost for the consumer.

“We plan to maintain and invest in our own product and pricing engine, further strengthening the mortgage ecosystem by providing additional options and greater efficiencies to lenders, servicers and partners. Ultimately, lowering acquisition costs for lenders and enabling those savings to be passed to the consumer,” Jackson said.

With Black Knight part of ICE now, executives expect the integration of data and technology across the mortgage workflow to enable greater automation, in turn reducing friction and lower cost to originate a home mortgage for every party involved.

“By combining data on the consumer’s payment history, and loan balance with our rich analytical solutions, such as our valuations and AllRegs – which is an industry leading product availability and eligibility database – our servicing customers will be able to identify opportunities to proactively offer more efficient loan solutions to help lower costs and meet consumers needs,” Jackson noted. 

Other opportunities ICE acknowledged include developing innovative analytics that help lenders connect with potential buyers in historically underserved markets and identify minority bias in the home valuation process. 

Financials

In terms of financials, ICE expects net revenue synergies of up to $125 million by 2028 largely through cross-sell opportunities across the platform and ICE’s expanded customer base.

ICE executives said they’ve identified north of $300 million worth of opportunities for the company to go after which includes cross-selling data and document automation platform to the entire Black Knight’s MSP mortgage servicing system.

“There’s a little north of 100 [MSP clients] and we believe that 40 of those are not on Encompass today. That represents roughly 15 to 20% market share of annual loan volume that we think we’re going to have a great opportunity,” Jackson said.

For example, JPMorgan Chase, one of the largest servicing customers of Black Knight, is implementing ICE’s data and document automation platform to both its retail and correspondent channels, replacing its in-house legacy infrastructure, executives noted.

ICE expects Backnight to contribute approximately $85 million to $90 million of net revenues, and roughly 50 million to $55 million of adjusted operating expenses to Q3 results.

Full year 2023 ICE Mortgage Technology (IMT) revenues including the legacy IMT business and pro forma for Black Knight are expected to be between $2.05 billion and $2.07 billion.

“With Black Knight, ICE is well positioned to improve the execution and subsequent settlement and servicing of US home mortgages, the major credit exposure for most US consumers,” said Jeff Sprecher, chair and CEO of ICE.

Source: housingwire.com

Apache is functioning normally

Apache is functioning normally

Are you a property manager looking to attract future residents, or a private owner aiming to showcase your rental online? The secret to success is apartment staging. Transforming your space into a welcoming and visually appealing environment can make all the difference in capturing potential tenants’ attention. 

In this Redfin article, we’ll delve into expert apartment staging tips and rental staging techniques to help you shine in the competitive rental market, whether you’re in bustling cities like New York and Los Angeles or thriving rental markets such as Austin and Seattle. Let’s get started. 

1. Curb appeal matters

Curb appeal isn’t just for homeowners; it’s equally vital when staging a rental property. Before potential tenants even step inside your rental property, they’ll form their first impression based on its exterior. 

Whether it’s refreshing the paint on the front door, adding potted plants to the entryway, or ensuring the walkway is clean and well-lit, small enhancements to the property’s exterior can make a significant difference. Remember, the goal is to make prospective renters envision themselves coming home to that space every day.

2. Start with a clean slate

Before staging, ensure your rental is spotless. Clean every nook and cranny, including carpets, windows, and appliances. A clean space feels more inviting and allows potential tenants to envision themselves living there.

Expert tip: ”To successfully stage your rental home or apartment, the first step is organizing and decluttering your belongings,” shares professionals Cut the Clutter RVA. “It’s essential to edit your possessions. This means assessing what you actually use and removing items that no longer serve a purpose – a critical step, particularly in smaller spaces prone to clutter. A well-organized and clutter-free environment creates the illusion of more space and enhances the appeal of your rental property to potential tenants.”

3. Focus on your audience when staging

Whether it’s a home or a rental, your first step should always be to consider your potential tenant. It’s not just about making it look nice; it’s about ensuring it resonates with those who might call it home.

Expert tip: “When staging a property, whether it’s a home or rental, the first step is to consider your potential buyer,” recommends international media group Inspired Spaces. “Identify your audience – young families, singles, retirees, professionals – and adapt the style, room arrangements, and color palette accordingly. For instance, if your target is young professionals, a secondary bedroom could serve as an office. But for a young family, that same room is best as a child’s bedroom. Focus on neutral, yet inviting color palettes in each space. This appeals to a wider range of buyers, aiming for sophistication that remains relatable.”

4. Use a neutral color palette

Opt for a neutral color scheme when painting walls and selecting furnishings. Neutral tones create a blank canvas that appeals to a broader audience and allows renters to add their personal touches with ease.

Expert tip: Broker Corrie Hayes emphasizes the importance of cohesive decor in creating a balanced room. “Have you ever thought, ‘something is off?’ in a room, but you can’t put your finger on it? Your space can unintentionally feel like it’s having an identity crisis. Whether it’s shabby chic, industrial, rustic farmhouse, or modern sleek, creating harmony in your decor is key. Mixing contrasting styles can lead to visual confusion, but it can be resolved with purposeful choices like coordinating grey couches with beige or cream throws, wall art featuring a mix of complementary colors, and bedding that combines various neutral tones. The result is an inviting space that appeals to a broad range of individuals.”

5. Choose furniture that fits the space

When selecting furniture, consider the size of the space. Avoid overcrowding rooms; instead, opt for appropriately sized furniture that complements the room’s layout. Don’t forget comfortable seating in common areas to highlight a cozy atmosphere.

Expert tip: According to Southern Maryland interior designers at Chesapeake Staging & Interiors, LLC, there are key logistics to consider when staging a rental property or unit. “The first is whether or not the property or unit will be listed as furnished. If not, you’ll need to state that it is an unfurnished unit to avoid confusing potential renters. If it is furnished, you’ll need to stage it with quality furniture that can withstand a renter’s use.”

6. Focus on lighting 

Natural light is a key selling point. Open curtains or blinds to let in sunlight and add floor or table lamps where needed, to create a warm and well-lit environment. Adequate lighting enhances the overall ambiance.

Expert tip: According to Aspect Staging, “Lighting plays a vital role in enhancing your rental property’s appeal. To create a warm and inviting atmosphere, strategically illuminate key areas like the living room and bedroom. Use modern floor lamps to brighten dark corners, and consider matching bedside table lamps for a cozy ambiance. Opt for soft white light bulbs with a color temperature between 3000k and 3500k lumens to strike the perfect balance between warm and cool lighting, making your space feel spacious and inviting.”

7. Emphasize storage possibilities

Highlight the storage options in your rental property, as it’s a top priority for many renters. Keep closets and cabinets organized and clutter-free, allowing tenants to envision their belongings neatly stored. Well-arranged storage spaces make your property appear spacious and cater to practical needs, enhancing its appeal.

8. Use staging to define spaces within your rental 

If your rental space lacks distinct areas, create them with furniture placement and rugs. Clearly defined living, dining, and sleeping areas can help renters visualize the functionality of the space.

Expert tip: Birgit Anich, CEO and Creative Director at BA Staging & Interiors, emphasizes that staging a rental property parallels staging one for sale. “Given that rental apartments often have limited space, a clear definition of how each area is used is key. The level of sophistication in staging should align with the rental price. A deliberate design that incorporates the renter’s lifestyle and aspirations into the details can evoke emotions and foster a connection with the space, making it more enticing.”

9. Accessorize your rental thoughtfully

Incorporate tasteful accessories such as throw pillows, artwork, and decorative items. These personal touches add character to the space and help renters connect emotionally with the property.

Expert tip: Professional real estate photographer Cynthia James Photography advises that, “When selecting a rental property, it’s crucial to create a welcoming home-like ambiance. In urban areas, consider faux plants for a touch of nature. Enhance the kitchen’s charm with decorative canisters, a recipe book holder, draped kitchen towels, and fresh flowers. In the owner’s bedroom, a queen-size bed with neutral bedding, layered pillows, a quilt, and blankets add comfort. Transform the bathroom into a serene spa with a small rug, neatly arranged soaps, and folded white towels. At the entrance, a welcoming doormat and decorative items like a wreath or home sign can make your rental feel like a comfortable long-term home.”

10. Be creative while staging

In the world of rental property staging, creativity can be your secret weapon. When it comes to making your space more appealing to potential tenants, a dash of innovation can transform ordinary into extraordinary.

Expert tip: For renters looking to make their space more appealing, Florida interior designers TOSCANO INTERIORS recommend creative staging techniques. They suggest, “Converting underutilized spaces and incorporating local art and craftsmanship to add authenticity. The key is to strike a balance between uniqueness and broad appeal, ensuring that unique touches enhance the space. This helps renters create a compelling narrative in their home through furniture, decor, and color choices.”

11. Use fresh flowers and greenery throughout your space

Adding a touch of nature to your staging can work wonders. Fresh flowers and potted plants breathe life into your rental space, infusing it with vitality and freshness. Fresh flowers bring color and a welcoming fragrance, while greenery introduces a calming presence. They are versatile, complement various interior styles, and require minimal maintenance. These natural elements make your property feel like a vibrant and inviting home, leaving a lasting impression on potential tenants.

12. Make sure the rental is clean and smells nice

Before each showing or photoshoot, ensure the space is clean and well-maintained. A final walkthrough is crucial to catch any last-minute details that need attention.

Expert tip: “Don’t underestimate the impact of odors on potential buyers,” says CC Staging & Design. “Unpleasant smells, whether from pets, cooking, or other sources, can quickly deter them. Take proactive steps to ensure your home exudes a fresh and clean scent. Deep-clean carpets, introduce air purifiers for a crisp ambiance, and opt for subtle, pleasant scents rather than overpowering air fresheners. Elevate your home’s appeal with an inviting and refreshing fragrance.”

13. Hire a photographer

Invest in professional photography for your rental property. High-quality images make your online listing stand out and attract more potential tenants. Make sure the photographer captures the best angles and showcases the key selling points.

Expert tip: AV Home Staging brings attention to the advantages of staging in your rental property marketing strategy. Their tip, “Marketing increases more viewings and showings. With a vast number of renters starting their search online, professionally staged photos create a lasting impact, piquing interest and yielding a larger pool of potential applicants – a win-win for any rental property owner.”

14. Be ready to show your rental 

In the competitive rental market, readiness is essential. Whether it’s in-person tours or virtual viewings, your ability to promptly and flexibly present the property is crucial. Be flexible with showing schedules, maintain the property’s condition, have the necessary technology for virtual viewings, be well-informed, follow protocols, and prioritize prompt communication to make your rental more appealing to prospective tenants.

A final note on staging a rental

By following these expert apartment staging tips and rental staging techniques, you’ll increase your chances of attracting the right tenants and securing your rental property’s success. Remember, the goal is to create a space that feels like home from the moment potential tenants step inside or view it online. Happy staging!

Source: redfin.com