Furnishing a rental property is a widely debated topic amongst landlords, with many wondering whether it’s better to let a property that is furnished or unfurnished. The answer of course depends on the type of property, location and the type of tenants you are hoping to attract.
Before jumping in head first and buying furniture for your rental property, first consider the type of tenants you want to attract. If you are hoping to attract families looking for a long term let, going unfurnished may be the best option as they are more likely to want to personalise the property themselves.
If however, you are letting to either working professionals or first time tenants, furnishing the property may be more appropriate. Corporate tenants who may only be letting your property for a short period of time, will be looking for somewhere fully furnished with a bed, sofa, dining table and chairs at the very least. Adding extra items such as rugs, artwork and electronics are not essential but may help your property stand out from the crowd.
If your target market is first time tenants and young couples who are unlikely to have their own furniture, providing the basics such as a bed, sofa, dining table and chairs is a must. Make sure any furniture you provide is hard-wearing, clean and, particularly if you are letting budget accommodation, cheap to replace.
As a general rule, we recommend keeping the colour scheme neutral and avoiding anything too bold or bright which could put some tenants off. Ensuring the home is well lit and warm will help it make a lasting first impression when tenants view the home.
Be prepared for accidents to happen so choosing a sofa with removable, machine washable covers and providing mattress protectors will help safeguard your investment. The most important thing to consider when choosing soft furnished is fire safety regulations, it is a legal requirement that such furnishings are fire resistant with a fire safety label attached.
When furnishing a rental property it is important to remember that it is a business and to consider that the cost of buying the furniture and any repairs or replacements will impact your profits.
To find out more about how to furnish a rental property or, for a free, up-to-date valuation, contact Romans on 01344 985 870.
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