Furnished vs Unfurnished
There is no right or wrong answer – the decision rests with you and what is most appropriate for your circumstances. However, the decision you make could influence the type of tenant your property attracts.
Furnished Property to Let: The Positives
- Furnished properties are more likely to attract younger tenants who have not yet set up home, or those who are in transit and cannot bring their own furniture with them.
- This type of property, generally speaking, is more likely to rent out quicker than an unfurnished property as there is greater demand. However there is also greater supply.
- The property can be used again; either for another home or rental property.
- If the property is only to be let for a short period of time it will save on storage costs.
- A percentage of the cost of goods can be deducted from your tax liability.
- An inventory check must be carried out as the tenant moves in and moves out. Both parties must sign this. This check is included in the Glenham Property Management service.
- Although it is not a legal obligation to take out insurance on the furniture (and other items) within a rented property it is advisable to do so.
- All furniture and electrical goods must comply with the respective safety standards. Please see ‘Preparing Your Property To Let’ for further details.
Unfurnished Property to Let: The Positives
- Although not guaranteed, tenants that invest in their own furniture are more likely to stay for longer tenancy periods as there are costs involved in buying the furniture and moving it.
- Unfurnished properties can be less problematic and expensive as there are no wear and tear concerns or costs involved.
- You are not responsible for insuring the tenants’ furniture or other belongings they may bring.
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