To Furnish? Or Not To Furnish? Your Buy To Let

One of the biggest questions we always get asked is should we furnish the apartment, or should we leave it for the tenant to do? This is such a key question for both landlords and tenant. There are pros and cons to both options, and what will appeal to one person may not be right for the other.

Bishopgate Development (14)

 

So what’s the difference?

You may think it’s a simple question, But it’s not. We need to look at the differences.

 

Furnished Apartments….

This is always going to open to interpretation and one person’s idea of furnished will be completely different to someone else. You would normally see things like: -

  • Sofas
  • Beds
  • Wardrobes
  • Table and Chairs
  • Chest of Drawers
  • Tv stands

Unfurnished Apartments….

If you where to leave the apartment in an unfurnished state there is normally a minimum needed:-

  • Kitchen Fixtures
  • Carpets and flooring
  • Bathroom Fixtures

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Landlords what’s best for you?

One of the main considerations for you as a landlord should be your tenant as they will be the one living in the apartment and paying the rent.

Always talk to us about the demand in the area – this doesn’t mean don’t do your own research as well.

Let’s looks at the benefits of both.

Furnished

  • Furniture can be reused between different tenants
  • Tenants will save money on purchasing the larger items
  • The cost of replacing the items will be tax deductible
  • Demand can be higher for furnished dependant on the area
  • You will get a better price and yield on furnished apartments

Unfurnished

  • No need to insure the furniture
  • Perfect for tenants moving with there own furniture
  • Could attract tenants looking for longer tenancy
  • Initial outlay will be less
  • No wear and tear or replacing items

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Type of Tenants

There is always going to be assumptions about tenants, and we would always advice to speak to us first but normally the sort of tenants you would normally see are.

Furnished

  • Young professionals
  • International students
  • Shorter term lets (minimum 6 months)
  • Looking to be closer to work

 

Unfurnished

  • Tenants with own furniture
  • Families
  • Longer term tenants

 

Looking to purchase a Buy to Let Apartment? We’d be delighted to go over your options, we are only a quick call away. Give us a ring today!


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