After purchasing a new property, it is important to create a space that is appealing to your ideal tenant, which raises the question of whether you should furnish your property completely.
It is important to carry out thorough research to discover what other landlords in the area are offering, as well a bearing in mind what is best for your future tenants.
Furnished properties are appealing for many due to fact that it forms a turnkey investment. They are perfect for those tenants that are looking to move in quickly with little to worry about once they have settled in. It also saves tenants money as they don’t have to fork out for a whole new set of furniture, which can often make the property far more appealing. There are a growing number of tenants who are looking for furnished properties, therefore it is extremely important to collate an inventory before the property is let so that when the tenancy ends you can double check everything has been accounted for. Another wise move would be to take photos of existing furniture to help solve any disagreements regarding the properties contents further down the line.
Purchasing new build opportunities with trustworthy companies like RW Invest often gives you the opportunity to have a complete furniture pack provided. These provide excellent value for money as well as being specifically designed for your property. Many tenants wish to purchase property in the most hassle-free manner, and by including a furniture pack this provides ease. In apartments and studios, furniture is essential for showing how space can be maximised for tenants and modular storage can often be a better alternative that helps optimise living space.
A fully furnished property will entice those from overseas who haven’t got time to furnish a property, as well as providing a higher standard of interior design. This is apparent when it comes to cities like Liverpool and Manchester, as they offer excellent city centre living that is popular amongst international tenants. If you are letting to students, it is unlikely that they will bring furniture with them as many will be studying in the UK from overseas and parts of the UK miles away from their chosen city of study. Therefore, a furnished apartment is the best option.
Furnished properties appeal to a wide range of tenants, so if you decide upon furnishing your buy to let it is important that you purchase a hardwearing unit that will last for several years, keeping costs and maintenance to a minimum. On the other hand, if you wish to appeal to older tenants, they may desire the opposite. Those who have rented for long periods of time may have their own furniture they wish to use, therefore presenting your property as unfurnished would be appealing to this demographic. If you are choosing to rent to a family or those who wish to rent long term, unfurnished may also be best.
Another possibility may be to leave the option up to tenants to decide and provide them with a choice as to whether they would like an unfurnished property with an option of adding furniture before they move in. Flexibility can be a big selling point, especially when it comes to letting a new property.
Disclosure: Collaborative post