As a landlord or a potential landlord you may ask yourself should you let your property furnished or unfurnished? This is not only and important question to ask as a landlord but it is also important for your future tenants as well. In our latest blog we take a look at the ins and outs of furnished and unfurnished rental properties through the perspectives of both landlord and tenant.
Firstly, lets establish what both furnished and unfurnished propertied mean and what they should include:
Unfurnished properties mean you are letting out a property in an unfurnished state, however this does not mean you leave the property completely bare:
White goods (cooker, fridge, freezer, washing machine)
Carpets and flooring
Curtains or blinds
Furnished properties include all of the mentioned features of unfurnished properties however also include the following:
Sofas and/or Armchairs
Dining Table and Chairs
Chest of drawers
Usually attract those who are looking for short-term lets including:
Those who are looking to be closer to work during the week
Corporate tenants who require a property for staff or clients
Benefits of letting a furnished property
Higher demand in your property– demand may be higher as furnished properties can be considerably more attractive than unfurnished properties. Furnished properties are more popular than unfurnished and may be let much quicker. However, this is all dependant on where your property is based, so some research is required so you can pick the best option.
You may receive a better price from tenants if the rental property you offer is furnished and the furnishings can be reused when the tenancy ends
Spare the expenses–
If you already have furniture in a property it may be easier and less expensive to let the property rather than paying for furniture to be removed.
Attractive to tenants
Your tenants can also save money as they do not have to purchase expensive furniture items
Usually attract those who are looking for longer term lets including:
Those who wish to make their living space feel like home
Anyone who already owns their own furniture
Benefits of letting an Unfurnished property
Attract long term tenants– Tenants may feel more secure in your property as they are moving in with their own furniture and belongings. Tenants are more likely to settle down if they come with their own furniture and wish to make the property seem like home.
Lower upfront costs– If the property you are letting is not already furnished or you are not planning on doing so then this can keep your upfront costs low.
Lower insurance costs– As a landlord you are not obliged to insure any of the furniture that the tenant brings in with them. Therefore you may end up paying lower premium than if you had decided to protect your own contents.
Less worry- You do not have to worry about tenants damaging or having to replace the furniture items due to wear and tear. End of tenancy checks can be simpler with unfurnished properties so you can minimise stress as you don’t have to check over every furniture item in the property to check for damage or wear or tear.
How can we help?
In a crowded rental market, it’s imperative to know who can rely on to maximise your return on property rental. If you choose ZFA Group, we will handle the management of your property with expertise and experience to offer you the highest quality service.