With Bali’s real estate industry making a steady return thanks to the reopening, now is your best chance to put your property on the market again since the demand for villa for sale and rent in Bali is on the rise. To help you prepare for this, we have compiled some of the most crucial things that you should do beforehand to increase the chance of landing a deal soon.
It’s important to understand that tenants looking to rent a villa in Bali for a short term and a long term have different preferences, so first you must determine what your target is before making any adjustments. If you’re going to rent on a daily basis, focus on providing amenities and services that cater to vacationers as they will want a hassle-free stay. Since running a daily rental requires full time attention, consider hiring a property manager to save time and energy.
Enclosing the living room is a simple yet significant improvement for long-term rental villas
Photo by Bali Home Immo
Long-term renters want a Bali villa that they can comfortably live in for an extended period, so focus on improving living comfort. Enclosing the living area, adding a gate to the carport, and offering optional services such as cleaning, gardening, and pool maintenance are small upgrades that will help your villa easier to market and make the tenant feel comfortable. Monthly renters have similar preferences with the addition of having expenses such as electricity, laundry, and cleaning services already included in the rent price so that they can move in and out without a hassle.
If your villa has not been occupied for a while, be sure to fix any damages and blemishes (ie. mold, chipped paint) before putting your villa back in. An unkempt villa is harder to market because most tenants don’t want to renovate before or right after they move in. People who are new in Bali won’t know the cost of minor renovations and/or how to do it, so offering a poorly maintained villa limits your range to clients looking for a good deal or who have been here for a few years. Many owners choose to look for a tenant first and then repair the villa before the tenant moves in to save upfront costs, but this approach doesn’t work. In short, a villa that is prepared properly will appeal to tenants that won’t hesitate paying more for quality.
The approach is largely similar to above, but with some key differences that should be applied on older properties. If your villa is 10 years old or more, consider refurbishing the building with new paint, fittings, and furniture to give it a refreshed look more suited to today’s trend. Due to a huge number of new investments and villas popping up every year, the design trend in Bali changes faster than in other parts of the world. Newly built villas will mostly fit the most recent trend, so your property will need an upgrade after just 2 to 4 years. Again, not all buyers are interested in buying an old villa and then renovating it themselves so it’s strongly advised to give the villa a bit of makeover before putting it on sale to attract a broader range of potential clients.
Design trend in Bali changes rapidly, so your villa will need a remodel in less than 5 years
Photo by Bali Home Immo
Another important thing to consider doesn’t have anything to do with the building itself, but rather something intangible. If you’re subletting a leasehold villa, it’s best to discuss the possibility for extension with the landowner if you haven’t done it in the beginning. It’s quite tricky to find a client that would buy a villa with less than 20-25 years left on the lease, but having the possibility to extend can alleviate this.
Also read: How to Renovate Bali Villas for Investment
When you’ve taken all the effort to make your villa look gorgeous, now it’s time to present it in the best possible way. In this competitive digital era, you will need to catch the attention of potential buyers at a single glance and having professional photos will definitely help. This is where home staging plays another important role because it’s difficult to make an empty room look good in pictures and you could lose a potential client due to lack of interest. A good first impression will entice a client’s curiosity, so don’t hesitate to spend a bit more in marketing your property.
Exclusive listing grants access to marketing channels that are not available to open listing
Photo by Bali Home Immo
If you’re working with real estate agents in Bali, consider entering an exclusive listing agreement for a more focused marketing effort. Exclusive listing gives you access to their full range of marketing services typically including paid advertisement, which will give your villa a better exposure that you don’t get from open listing. Agents can’t afford to spend all their marketing efforts on every property that they list, and an exclusive agreement ensures that your villa is prioritized.
Do you have a villa for sale or rent in Bali? Let us help you find the right client by listing it with us. Since 2009, we have successfully helped hundreds of property owners in selling and renting out their properties to clients from all around the world. If you wish to have your property listed with us or have any questions to discuss beforehand, please do not hesitate to contact us.
Disclaimer: The content of this publication is provided as general information only and does not constitute legal, financial, tax, or other professional advice from Bali Home Immo. Some of the information provided on this publication is obtained from a third-party source and we do not guarantee that the content of this publication is accurate, complete or up-to-date. Past performance is not indicative of future performance and should not be relied upon as a basis for an investment decision.