There is a lot of debate out there about whether or not it’s worth a landlord’s time to furnish the properties they have for rent. The merit of including a basic arrangement of furniture does, after all, depend on a lot of external factors, and there is no advice that’s suitable for all landlords in all cities across all nations. However, with 69% of people under 40 renting apartments instead of buying homes, offering a furnished living space may make your rental more appealing for a more frugal generation.
Assessing Your Space
First thing’s first: when you start looking into whether or not you should furnish your rental space, you’ll need to consider the kind of people you want living in your units and, in turn, what kind of furniture will fit your mutual needs. Is your rental near a university or in the middle of a thriving city? If so, you can assume that your potential tenants are likely to move frequently and carry little with them, making furnishing your rentals the right move. These college students and twenty-somethings are more likely to want furnished apartments than more settled business professionals so that they can chase their education and careers, and you’ll be able to entice them into your property if you show that you’re willing to meet their needs.
With that in mind, you’ll be able to proceed with setting up the basics of a furnished apartment. Think about a space that you’d like for yourself when picking out the furniture you want to introduce to your rental, but keep in mind that this furniture also has to hold up to wear and tear. Also remember that accessibility is essential. If a potential tenant tours your rental and can’t navigate the space appropriately due to the furniture you’ve included, then you’ll lose out on that business opportunity.
What Not to Include
However, you’ll also want to take care to not go overboard in furnishing your rental. Basic furnishings include a dresser, lighting, a bed, and major kitchen appliances, not expensive electronics, dinnerware, or even shower curtains. Not only do you want to allow your potential tenants room to personalize their space, but you’ll want to keep your presence in the rental balanced. In other words, you’ll be providing basic décor, but you won’t be parenting the tenants who rent from you.