Deciding to furnish a property for rent usually
depends on local demand and the type of
premises.
Highly mobile tenants prefer furnished properties as they do not
want the added cost and inconvenience of transporting their
possessions.
However, those who remain in properties for a long time
often prefer unfurnished accommodation.
Generally houses tend to be unfurnished whereas flats
within larger buildings are generally furnished.
The advantages of providing furnished properties include
the following:
- Properties are more appealing and this may reduce the amount of
time they are empty
- Less damage to decorations as tenants won't have to move
large furniture around
- Furniture can be expensive those on low-incomes with rent
levels only marginally higher compared to unfurnished
properties
If you decide to furnish your property only attempt to
provide essential items.
Don’t provide small items such as cutlery, pictures and crockery
and avoid supplying televisions and stereos as they are
vulnerable to theft and expensive to repair or replace.
Ensure you buy hard-wearing items which will last more
than one rental period and if you are providing furniture or
furnishings ensure they comply
with
fire safety regulations.
The disadvantages in providing furnished properties
include the following:
- Any appliances, equipment and furniture must be supplied
in good and safe condition
- Creating an inventory takes time and if you
employ someone to carry out the task it will add to your running
costs
- The cost of supplying, maintaining and replacing furnishings
may not be offset by a higher rent
- You are responsible for the repair or replacement of any
appliances, equipment and furniture during a tenancy
- Your personal choice may discourage some tenants from
taking the property if they do not like the furnishings
If you are still unsure what to do, it is worth finding out
what other local landlords are offering by reading your local
newspaper or contacting them direct.
