What should I choose for my property to let – furnished or unfurnished?
One of the most common questions we get from landlords is whether they should let their property furnished or unfurnished. There is always much debate over this topic, but we want to dispel the myths and provide you with both sides of the argument, so you can make the right decision for you.
There is no doubt that this is the easier option; you don’t have the added expense of purchasing and maintaining furniture, or the stress of replacing it should it be damaged during the tenancy. Typically, an unfurnished property achieves a lower rent than its furnished counterpart, but not always.
When you walk into an unfurnished property, no matter how beautiful the décor it can sometimes feel a bit cold. What we mean by this is that you are relying on a potential tenant to be able to visualize what the space will look like with furniture. Think about when you walk around a show home; the furniture and accessories don’t come with the property, but they dress it in a way that captivates those that view it, and sparks their interest.
By dressing an unfurnished property properly, you increase the chances of securing a rental quicker, and often at a higher price, as tenants will be buying into the concept of what the apartment could be, rather than an empty shell.
Tenants who rent an unfurnished property will have to invest in their own furniture and furnishings, this will increase their initial costs, and therefore could put some potential tenants off, as they will see this as an unwelcome added expense.
Having an unfurnished property allows the tenants to transform the space into their own home; they can style it to their taste with removable décor, and choose pieces that suit their needs. Being able to create a more personal space creates a sense of belonging, and tends to lend itself to longer tenancies, therefore reducing your void periods.
A furnished property is very attractive to tenants, especially those who may be new to letting a property. They usually let for a higher rate than unfurnished, and we find they go quicker than those that are unfurnished. But, a word of caution here, furnished does not mean just mix of pieces that provide a practical solution but have no style. Tenants today are seeking chic spaces, and are willing to pay a premium to get one.
When furnishing a property, think about the type of tenant your property would suit best. We can help you in this area, and furnish the property with hardwearing but stylish furniture and accessories. You want your tenants to feel at home from the minute they walk through the door, and like they never want to leave.
If you are unsure whether to let your property furnished or unfurnished, chat to a member of our team, who will advise you on the best option for you and your property.
Why not try our free, quick and stress-free valuation? Head to our online form now. For a more in-depth valuation, speak to one of our expert Directors at Knights Property Services on 01276 539111