Should you take the time and money to add a wardrobe or new appliances, etc to your rental flat? Will it increase your rental yield?
The highest proportion of furnished properties in the UK." It also suggests the demand for furnished properties is on the rise, furnished flats would fetch seemed too high, However, a 2018 report from OnTheMarket suggests furnished flats in London could incur a 9% premium.
Benefits of furnished property
Furnishing a flat is rent price. However, it's not just about asking your applicants to pay more. It's also about the type of tenant you're looking for.
For overseas tenants, short-let tenants, and professionals looking for or prefer furnished apartments, too. They don't want to waste time and money purchasing, moving in, removing, and storing furniture in the city.
Not all furnishings alike. For instance, prime central properties for high-end corporate clients require a lot more thought than the extra bookcase and odd coffee table. They might provide kitchenware, bed linens, entertainment, and decor of the highest quality.
Good thing for landlords who still choose unfurnished
There are some downsides to furnishing a property. You have to consider wear and tear, and add furniture maintenance to your list of tasks whenever a tenant moves out.
Furnished flats may bring in corporate clients, but unfurnished flats also attract a coveted audience – long-term tenants. If someone’s planning to live in your rental for multiple years, it’s in their best interest to form a good relationship with you, pay their rent on time, and maintain the property.
Unfurnished means one less maintenance requirement during the tenancy, too. This is especially useful if you don’t have a property management company to help.
So, do you furnish or leave it to the tenant? Get in touch with us! 020 7482 1150
