This question has no correct or wrong answers. The lettings market benefits from both furnished and unfurnished properties. A house that is ideal for one tenant may be absolutely inappropriate for another because of the different types of tenants’ situations. Several considerations will determine which choice is best for you as a landlord.
- Whether or not your property is currently furnished
- The period for which you intend to rent your property
- The type of rental property you are letting
- The location of your property
- The type of potential renters you aim to attract
- The expected rental income for the property.
Fully Furnished Properties
Smaller urban properties are more likely to be furnished rental units. This is due to the fact that this type of rental market is typically comprised of younger individuals. This kind of property is good for first-time renters and young professionals who aren’t looking for a long-term place to live. This type of renter typically benefits from moving into a fully furnished apartment. They will not be required to provide their own furniture and they’ll be able to move in with minimal work and inconvenience.
Pros
- Attractive to younger tenants who wish to save the expense and inconvenience of purchasing furniture.
- Since there is a larger market for this kind of property, renting is typically easier.
- Apartments with attractive furnishings typically have higher rental rates.
- You won’t have to deal with the trouble of clearing it and paying for storage if your house is fully furnished.
Cons
- Furniture is prone to deterioration, so you’ll need to replace items as needed.
- Renting homes with poor or outdated furniture may be more problematic than renting an empty home.
- Every tenancy will require a thorough inventory of the property’s furnishings to be conducted before and after.
- To cover the cost of your furniture, you must purchase suitable contents insurance.
Unfurnished Properties
Unfurnished rentals are more common for larger apartments and homes. However, there are many different ways to define an “unfurnished property.” Typically, they will include at least carpeting or flooring, blinds or drapes, kitchen fixtures, and white goods (fridge, freezer, washing machine etc.) This kind of rental property typically draws tenants who are older and may or may not have families. This is because this type of renter is more likely to have gathered their own furniture over the years and want to use it to make their new home feel like home.
Pros
- It saves you money by attracting tenants who already have stuff.
- You as a landlord will have less headaches because you won’t have to worry about furniture deterioration.
- You don’t have to pay for furniture insurance.
- During vacancy periods, your obligation to pay council tax is greatly reduced.
- Tenants might stay in your property longer if they are more likely to be settled with their own belongings.
- It’s easier to get your house ready between tenants.
Cons
- Depending on the area, renting out this kind of property may take longer.
It’s a good idea to take some time to research the demand for both before making a final choice on whether to rent out your house furnished or unfurnished. Check out how houses that are similar to yours are being rented out locally online. This is where using a reputable local rental agent like Lind Letting can be extremely beneficial. We are familiar with both solutions’ advantages and disadvantages. We will be delighted to use our in-depth understanding of the local rental market and your unique situation to assist you to make the decision that is best for you.
Lind Letting is a Glasgow-based, award-winning letting agent that can assist you if you’re wanting to rent out your house. We can assist you with the most effective strategy to rent out your specific property because we are experts in the local real estate market. Furthermore, we offer total property management services. Please contact us or phone us at 01505 610 444.
