Furnished or unfurnished rental?
As the owner of an investment property, one of the most common questions asked is should you furnish your rental or leave it a blank slate for the rental occupiers to make their own?
It’s a good question, and one that really comes down to the type of property you have and the type of rental owner you’re looking to attract.
So, let’s walk through the pros and cons of furnished and unfurnished rentals to work out which best suits your investment.
Furnished rentals tend to appeal to a very specific type of rental occupier. This might include students, professionals, or ex-pats and renters from overseas who only have a limited amount of furniture and personal items.
It also suits a very specific type of property, such a high-end unit, apartments for students, or luxury properties where the furniture is designed to suit the house.
The pros and cons of furnished
Furnishing your rental comes with both pros and cons.
On the plus side, furnishing your home can attract that specific type of renter we mentioned earlier, who may opt to pay more for the convenience of simply walking into a property, without the need to consider the furniture they bring with them.
On the other hand, it’s an added investment for the rental owner if they need to go out and buy furniture to suit the home.
Furniture is also something that will require upgrading over time to maintain a polished look or ensure the interior design remains in vogue.
It can also deter some potential renters, who would rather bring their own furniture with them to a property.
Unfurnished rentals are far more common in the rental market. They offer renters the chance to make the property their own by bringing their own furniture with them and arranging it as they please.
This makes it a popular option for families and couples who tend to have accumulated their own possessions over time.
And the reality is, not all furniture appeals to all people, so many are more likely to want to bring their own items with them.
Pros and cons of unfurnished
For the rental owner an unfurnished property means one less thing to worry about. There’s no added expense of replacing furniture when required or ensuring the look remains up to par.
As we mentioned, its also likely to attract a wider variety of prospective renters, meaning your less likely to rule a good tenant out with a property that has items they don’t need.
Speak with your property manager
If you’re wondering whether your rental property would be more appealing if were furnished or unfurnished, speak with your property manager.
As an expert in the local rental market, they will have the best idea of how much demand there is for properties and how yours can create a point of difference that allows it to stand out from the crowd.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.