Furnished Vs. Unfurnished Rental: Understanding The Pros And Cons For Landlords

January 19, 2023

Furnished Vs. Unfurnished Rental: Understanding The Pros And Cons For Landlords

In a competitive rental market, landlords must maximize their properties. A furnished or unfurnished rental property is one way to do this. To help you decide what’s best for your property, we’ll compare the pros and cons of both options in this article.

Introduction: Overview of Furnished vs Unfurnished Rental

Should you rent your property furnished or unfurnished? Before choosing, weigh the pros and cons of both. Short-term tenants may prefer furnished rentals. Furnished rentals are ideal for business or leisure travelers who don’t want to set up their own furniture. Long-term tenants may prefer unfurnished rentals. Unfurnished rentals are good for those who already have furniture or plan to move in with furniture.

Furnished vs. unfurnished rentals:

Furnished Rentals:

Pros:

Can be appealing to tenants who are looking for a short-term or temporary living situation.
Ideal for those who are in town for business or pleasure and don’t need the hassle of setting up their own furniture.
Renters insurance may cover any damages that occur to the furniture while it’s being used by the tenant.

Cons:

Tenants may not take care of the furniture as well as they would their own.
The furniture may not match the

Advantages of a Furnished Rental

Furnished rentals have many benefits. For one, it can boost investment property income. Furnished rentals cost more than unfurnished ones, so you may make more money by furnishing your rental. Furnished rentals also attract different tenants. Furnished renters tend to be more responsible and earn more than long-term unfurnished renters because they need temporary housing. Thus, furnished renters may cause less turnover and fewer issues. Finally, furnishing your rental unit gives tenants a turn-key living solution they will appreciate. As a landlord, tenants who don’t have to shop for or move their own furniture will be more likely to renew their lease, giving you stability and peace of mind.

Disadvantages of a Furnished Rental

You may wonder whether to rent your property furnished or unfurnished. It depends on your landlord’s preferences. However, furnished rentals have some drawbacks you should consider before renting. Furnishing a rental property can be more expensive than leaving it empty. You’ll need to buy furniture, appliances, and other items to make it tenant-ready. You’ll also have to maintain and repair your rental unit’s furniture and other belongings. If you have multiple tenants coming and going, this can be costly. Finally, tenants may prefer unfurnished rentals over furnished ones. Many prefer the flexibility and freedom of an empty space to fill with their own belongings. If you want to attract a diverse tenant pool, leave your rental property unfurnished.