Is it worth it to furnish your rental property?

[BusinessTech]

Is it worth it to furnish your rental property?

Whether or not to furnish a rental property is a very common question asked by investors. Furnished properties typically command higher rentals, and are often assumed to offer greater returns as a result.

 

[Pakka]

I would think it depends very much on the type of demographic you're marketing to (ie students more so)

 

[Stefanmuller]

Also depends on the size of the unit. You can easily furnish a 2 bed apartment quite nicely for under R20k. But a 3 bed house not quite.

On the other hand, I am not sure that your typical great tenant (what you aim to get) will actually want to move into a furnished apartment? In my mind someone who wants to rent a place with furniture is someone who thinks short term and generally doesn't give a sh×t?

 

[ToxicBunny]

Also depends on the size of the unit. You can easily furnish a 2 bed apartment quite nicely for under R20k. But a 3 bed house not quite.

On the other hand, I am not sure that your typical great tenant (what you aim to get) will actually want to move into a furnished apartment? In my mind someone who wants to rent a place with furniture is someone who thinks short term and generally doesn't give a sh×t?

Yeah, my thoughts exactly...

Its either a business tenant, so the oke doesn't care because the company will pay regardless, or its someone on a short term thing and they also don't care because well they'll be gone before you can do anything.

 

[Thor]

Generally I wont furnish the apartment unless it's one I rent out via airbnb per night example aimed towards the business traveler perhaps

But for general longer term especially students I would rather not I don't the furniture would survive

 

[ChocolateBadger]

I rent and tend to stay away from furnished units. I would not feel comfortable on other peoples furniture. I also have my own preference in style and colours

 

[Fro]

A lot of my friends (students) rent and it doesn't seem like the owners care about furniture expense.:crylaugh: They just don't replace them when the furniture is broken, and the furniture that is there is the cheapest stuff they could get. I regularly see couches that look like a boulder was thrown on in or cheap plastic dinning tables.

 

[saturnz]

you will definitely struggle to find long term tenants if the place is furnished as long term tenants usually have their own furniture to begin with

 

[HavocXphere]

I went for a furnished place.

My internal decoration skills are a little dodgy so I'm glad I got a place with coordinated theme (incl art etc) and high spec furniture.

Had I known I'd be in one place for 3+years I probably would have gone unfurnished...probably works out marginally cheaper.

 

[Goliath]

Generally I wont furnish the apartment unless it's one I rent out via airbnb per night example aimed towards the business traveler perhaps

But for general longer term especially students I would rather not I don't the furniture would survive

Agree! If for students = unit must have the minimum, my two bachelors doesn't even have an oven, just the unit, cupboards and build in shower.. but if you cater for AirBnb etc I'll furnish it

 

[saturnz]

Generally I wont furnish the apartment unless it's one I rent out via airbnb per night example aimed towards the business traveler perhaps

But for general longer term especially students I would rather not I don't the furniture would survive

do you have a property that you rent or have rented out?