Anecdotal advice from a speaker (Mark Simpson) about furnishing rental units: units staged with inexpensive, low-"wow" furniture underperformed, while luxury or just nicer basic furnishings led to immediate performance gains and higher ROI. The speaker reports that modestly higher spend on better essentials produced rapid returns.
Realized that the units that I was setting up with kind of inexpensive furniture that I was replacing, that didn't have that wow factor, that didn't look great, those were the ones that were underperforming. And when I started getting into more luxury units or even just setting up basic units nicer, those units were really outperforming everything else. And the roi, the money I was making back was immediate on the increase in spend on getting something slightly better than kind of the most basic things.
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