Is it better to let a furnished or unfurnished property?
If you own a rental property, it is up to you whether you let it furnished or unfurnished. Some landlords like to fill their properties with beds, sofas, tables and even ornaments, while others choose to leave them completely empty. Which option is better when renting out a property? Let’s look at this question in more detail.
In reality, both options come with their own benefits. Here is more information to help you decide.
The benefits of letting an unfurnished property
One of the main benefits of letting an unfurnished property is that tenants are more likely to stay for longer, as moving is more expensive and complex.
It is also likely that your tenants will be happier with their own furniture, as they can choose the style and the colours. It means you are not responsible for looking after the furniture – if anything gets broken, it doesn’t affect you and you don’t have to worry about general wear and tear.
The benefits of letting a furnished property
One benefit of letting a furnished property is that it saves money for the tenants, as they don’t have to worry about buying furniture. It also means it is easier to let the property, as there are lots of tenants who are looking for a furnished home.
You will still own the furniture when the tenants leave, so you will be able to offer it to potential future tenants.
The benefits of letting a partially-furnished property
Many landlords partially furnish their homes with essential items, such as beds and sofas. This means that tenants can move in right away, even if they don’t have furniture of their own, and can add extra furnishings to make the home more personal and unique.
If you decide to let a furnished or partially-furnished house, property inventory software could be beneficial. This makes it much easier for you to keep track of your items and is available from providers such as inventorybase.co.uk.
Think about insurance
It can also be useful to think about home contents insurance. You don’t need to do this legally, but it will benefit both you and your tenants.
This will protect your assets in case of damage, so you don’t need to worry about forking out for new furniture if there is a disaster.