While homeowners have long viewed owning and renovating a home as a solid investment, some renters are discovering that upgrading their apartment can also be a way to make some serious money.
Social media influencers focused on interior design and decor invest thousands into improving their rental apartments and make it all back — and then some — through brand partnerships.
A popular influencer, Imani Keal, was able to quit her day job after making $10,000 in upgrades to her studio rental in Washington DC, and in turn earning about $80,000 through sponsorship deals, she told the New York Times in an article published Friday.
The Times reported that other tenants who redecorated their interiors are earning a net six-figure sum for doing so.
As she documented her efforts to spruce up her rental apartment, along with helpful advice on dealing with landlords and leases, Keal developed a loyal following on her Instagram And TikTok Pages.
Keal’s following exploded from hundreds to hundreds of thousands, and partnered with major companies such as Ikea, Walmart and alcohol delivery service Drizly.
Influencer Imani Keal was able to quit her day job after making $10,000 in upgrades for her DC studio rental, in turn earning about $80,000 through sponsorship deals
Keal told the Times that she first got serious about decorating her home in 2020, when the stress of the pandemic made her tiny apartment feel even smaller.
She began taking long walks, picking up promising trinkets thrown on the sidewalk by fleeing students, and poking around hardware stores for inspiration.
“I would be at Ace Hardware two to three times a day buying things I didn’t need because I had nothing else to do,” she told the paper.
As her social media following grew, so did the opportunities to upgrade the apartment with free sponsored benefits.
In one case, Keal says she got a $6,000 new faucet for the kitchen sink through a partnership with a sponsor.
Another video shows her adapting her studio apartment’s boring ceiling light into a trendy multi-outlet design.
“When you’re ready to move, you can always reinstall the old fixture and take the new one with you to your next apartment!” Keal told her followers. “Have fun renting!”
Keal said she first got serious about decorating her home in 2020, when the stress of the pandemic made her tiny apartment feel even smaller
As she documented her efforts to spruce up her rental apartment, along with helpful advice on dealing with landlords and leases, Keal developed a loyal following
Keal says she received this new $6,000 faucet for the sink in her rental as a free perk through a partnership with a sponsor
Agents who broker brand partnerships for influencers say revenue for such deals can range from a few thousand dollars to the lowest six figures.
For apartment renters, the extra money can be a boon as rents are rising to record highs in many cities.
According to a report by Douglas Elliman, rents in Manhattan hit a record high of $4,043 in February, up 10.7 percent from a year ago.
New York City as a whole has an average monthly rent of $2,141, according to data compiled by Serious.
After New York, Boston is the most expensive to live in on the East Coast at an average of $1,950.
Los Angeles has an average monthly rent of $2,600. California dominates the top ten with San Jose, San Francisco and San Diego all with average rents over $2,000.
For apartment renters, the extra cash from social media partnerships could be a boon as rents soar to record highs in many cities
However, experts warn that there could be potential downsides to defraying rental costs by becoming a social media influencer focused on interior decorating.
For starters, some may feel uncomfortable broadcasting their living space for the world to see and judge.
Even worse, some influencers have experienced harassment and stalking, with strangers using small details from their home or apartment to find out where they live.
As for Keal, her social media posts show that after several years in her small studio, she is now looking for a bigger rental apartment in DC.
She plans to take her minions along for the apartment search and for the many upgrades to the new rooms that are sure to follow.