Should you or shouldn’t you ‘stage’ your property when selli

I have a property for sale at the moment in Western Sydney and it has long term good tenants within it, paying market rental. I know that the market is ‘flat’ in most pockets of Sydney and that it is a buyer’s market, but my property has been on the market for nearly 4 months!

However I was speaking to a developer on the weekend, as successful developer I may add, and he said that my problem wasn’t the property, it was that it wasn’t staged, hence buyers wouldn’t buy. Staging or furnishing costs thousands of dollars, and I definitely agree in a new build home or an empty home on the market at above the price bracket of $600K or so it would make sense. BUT for an investment property with paying tenants this is not possible unless they are moved out...

Does anyone have any advice on this? Or has anyone been in the same situation?

Happy Investing
Kathryn

As an experienced investor myself, personally I would leave your tenants in there paying rent rather that loosing money every week to a mortgage just for the purpose of staging a property. If you have no mortgage on it, different story, spend the money and stage it. Many people who are successful and have plenty of money often forget that not everyone has money to burn.

Look at the options from a financial point of view e.g.

Staging Costs: Mortgage $250/week, staging (furniture rental) $2,000
First month cost is $3000, after 2 months $4000 etc
Remember there will be a settlement period too. Check out if the
furniture rental is tax deductible

Tenanted: Mortgage cost $250/week, rent $200/week
Cost each month $200 out of pocket and tax deductible!