When you’re letting a property, one of the many things you need to decide is whether or not to offer it furnished. There are benefits to both and it’s mainly down to the personal preference of the landlord. In this post we’ll explore the two sides to hopefully allow you to reach a decision:
Benefits of renting a property unfurnished:
- Deciding on what furniture to put in your property can be a tricky job, it’s a balance of trying to find something practical that will wear well, with items that are desirable to tenants. People have such different tastes that it’s often difficult to find something that will be appealing to a wide range of potential tenants.
- If you furnish your rental property, you need to be prepared for the furniture to not be in the same condition as how you left it. Extra deposits can be taken for certain items, but dealing with any damages can become a headache. Leaving a property unfurnished can be more straightforward for landlords.
- Tenants who buy their own furniture may stay for longer so you find your property could have less void periods. If they’ve purchased a sofa for example to fit the living room of your property it’s not as easy to move on.
- If a tenant already has their own furniture, you may put them off renting an already-furnished property as they’ll want to use their own.
Benefits of renting a property furnished:
- Furnishing a property means that tenants are saved the expense of having to purchase these items themselves. This is particularly beneficial for larger items and white goods. Because you’re saving them this extra cost, you can often attract more applicants which helps to reduce void periods.
- When a property is furnished, potential tenants find it easier to imagine living there when viewing it rather than just seeing an empty space. When we advertise properties, we take high quality photographs and often when there’s furniture in them it’s easier to get an idea of the size of the room. Find out more about our property photography service.
- You’re also able to deduct a percentage of the cost of the goods from your tax liability.
Deciding on whether to offer your property furnished or unfurnished is just one of the many things landlords have to do. We have some clients who’ll offer a property unfurnished but give the option to pay extra for furniture. We’ve shared another blog post that you may be interested in that explores the entire process, read it here.
If you have any questions please feel free to give our team a call on 01482 562562.
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