There has always been some debate around the question of whether you should rent out a property furnished or unfurnished. Letting a furnished property can carry a rental premium, but of course this has to be measured against the cost of kitting out the home in the first place. For tenants too, there are both pros and cons.
What is the definition of unfurnished?
To meet the description of an unfurnished property, a landlord will still have to invest in kitchen fixtures, white goods such as a cooker, fridge, freezer, and washing machine, plus carpets and curtains or blinds.
What do furnished properties include?
The bare minimum of a furnished property will usually include sofas or chairs, a dining table and chairs, tableware, a wardrobe, a chest of drawers, and a bed. There are no definitive rules, but these are the items a tenant would need to live in reasonable comfort.
What are the benefits of letting a furnished property?
You may attract more demand for your property, especially if the local market has a preference for furnished lets. This is usually true in areas with high student populations, as they do not want the trouble of buying and moving their own items. You will probably be able to charge a rental premium, depending on the area.
What are the benefits of letting an unfurnished property?
The initial outlay is cheaper for an unfurnished property, and you won’t have to worry about damage and wear and tear. Many tenants prefer their own things; even if you choose your furnishings thoughtfully, there’s no accounting for taste! You may end up with long-term tenants who will take good care of the property.
The best advice is to talk to letting agents or other professionals who know the local market well, as some areas will have a high demand for short-term lets, and others will have a marked preference for unfurnished properties which tenants can really make themselves feel at home in.
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