“Should I rent my property furnished?”
There is no legal obligation for a landlord to furnish a buy-to-let property. But one of the main goals for landlords is to entice quality renters for their buy-to-let property. It has been a common question for landlords how to present their buy-to-let property. There are plenty of advantages to offering a rental property furnished or semi-furnished, yet there are also downsides.
What is a furnished buy-to-let property?
A furnished buy-to-let property comes with all the furniture and appliances that a reasonable person would need to have a comfortable living experience. Typically, when you offer a furnished rental property it will command a higher rental price compared to an unfurnished property.
In a furnished buy-to-let property, you should have at least a sofa, table, lamp, and perhaps other furniture such as bookshelves and coffee table. In a bedroom, there should be at least a bed and a clothing cabinet, and perhaps a desk. In a dining room, there should be tables and chairs. In a kitchen, there should be utensils, pots, and pans, and of course appliances such as dishwasher, cooking appliances, and fridge freezer.
When you say fully furnished what does it mean?
A fully furnished rental property means that a tenant can move into the property and live without purchasing any items for the apartment. But of course, this excludes perishable items, food, and personal items.
A tenant should be able to move into the property with a suitcase and feel ready to live in the property.
What is a semi-furnished buy-to-let property?
Typically, a semi-furnished property has basic furniture such as a bed, sofa, table, and chairs. There are white goods but there is no kitchenware in a semi-furnished rental property as they would be present in a fully furnished property.
What are the main reasons why you should furnish your buy-to-let property?
1. Higher rental charge
When a buy-to-let property is furnished, you can ask for a higher rental charge. This is because furnishing a space can add to the cost and of course, through time the furniture wears out.
2. You don’t have to worry about tenant’s furniture damaging your buy-to-let property
When you furnished your letting property, this means when tenants move in, they don’t have to bring their furniture. This removes the fear of bringing infested furniture such as bedbugs.
Moreover, when moving furniture into the property, this might cause some dents and scratches, so when you let your property that is already furnished this removes your concerns about the damages that can be done during the move.
3. Predictable Target Market
Since a furnished rental property can cost more, landlords can automatically attract tenants who can afford the rental cost. Often of the tenants would be young professionals, students, couples, and even young families.
Students – If you’re property is near universities and you would like to attract students, furnishing your property is the practical way to present your buy-to-let property.
Employed Sharers – In many cases, employed sharers or young professionals are delighted to find an attractive property with furnishing. Usually, they are attracted to contemporary designs and welcoming ambiance.
Employed Couples – Many employed couples prefer to rent in a property that has good quality fixtures. For employed couples, the semi-furnished property would be a great way to present your letting property.
While there are plenty of reasons why you should furnish your buy-to-let property, there are also downsides to letting your property fully furnished such as a higher rate for potential damages to the furniture and appliances and the hassle of repairing or replacing the damages.
Ultimately, choosing to let your property be furnished depends on your target market. So whether you would want to let your property furnished or unfurnished, and still in doubt, we are here to help.
Bluestone Properties is a property management and letting agency based in Tooting, London. We provide services in south London and surrounding areas. Get it touch with us by calling us on 0208 355 3405 and we’ll help you take out the stress of the process in buying or selling your home.
There are many factors involved in a landlord achieving success in their industry, but the standard of tenant is crucial. With a trustworthy and dependable tenant who pays on time and who treats the property with respect, the role of the landlord becomes much more manageable. However, if your tenant doesn’t pay on time or treats the property poorl...
At Bluestone Properties, we know many landlords in the Tooting area face significant challenges right now. We are here to help you manage your rental property, keep tenants happy, and stay on top of your finances. During challenging times, it is best to stick to the fundamentals. All landlords should look to minimise their risks at this time, and we can...
Usually, when it comes to renovating a letting property, most landlords focus on the living area and the kitchen. However, if you really want some bang for your quid, you should consider renovating the bathroom. For a small price, you can put a significant enhancement to the appeal of your rental property and attract potential tenants. What are the bene...
Following the resignation of Boris Johnson, who has announced he will step down as Prime Minister when his successor is appointed, the UK faces a new leadership crisis. Johnson has stated that he will not introduce any new policies during his term—but what does this mean for pending legislation such as the Renters' Reform Bill? Will the Renters' Refo...