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The answer: You should furnish a property only if it will be more profitable in the long run. Many factors go into this, such as. will furnishings make the property more marketable, and will you be able to charge more rent for it? This article discusses the Pros and Cons of furnishing your rental property.
In most cities across the country, furnished apartments cost more to rent than unfurnished, so landlords can charge a higher rent. It's not uncommon for a furnished apartment to rent for 20-40% higher than an unfurnished apartment. For short-term stays, under a month that number will increase further.
Benefits Of Renting Out A Furnished Unit A well-furnished property rents for 25 to 75% more than an unfurnished property. The difference between an average furnished and unfurnished unit is around $400 that's an extra $4,800 a year! However, the higher the rent, the less likely the tenant is to stay long term.
Although furnished apartments obviously cost more than unfurnished apartments, the amount of time saved may be worth it. Furnished apartments also come in handy in terms of practicality and lease life. If you need to move in quickly, there is less of a hassle moving if the place already has everything you need.
Furnished apartments usually come equipped with furniture, basic kitchen appliances and tableware, bathroom necessities such as a shower curtain, a washer/dryer set, and possibly a few other amenities. The exact items will vary depending on the landlord and what kind of place you're renting.
Unfurnished apartments are pretty standard. While there are exceptions, they usually include built-in appliances like a refrigerator, stove and oven. Everyone's definition of a furnished apartment, however, is different. Sometimes furnished means you'll get a bed, a couch and maybe a kitchen table.
Now, the problem with renting out a furnished property is that most tenants who don't have their own furniture are only looking for a short term lease. So if you want tenants to stay long term, yet your house is furnished you might be waiting a long time to find tenants as your cutting about 90% of your market out.
Benefits Of Renting Out A Furnished Unit A well-furnished property rents for 25 to 75% more than an unfurnished property. The difference between an average furnished and unfurnished unit is around $400 that's an extra $4,800 a year! However, the higher the rent, the less likely the tenant is to stay long term.

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