Have you ever thought about renting out your home or an investment property fully furnished? I often get asked this question by prospective landlords wondering what they should do about furnishings in a property. I thought I would go into the pros and cons of renting a house with furnishings.
Often renting a house a fully furnished can be a slower process than renting a house with no furniture as most of the potential tenants in Whangarei tend to have their own belongs and do not want to have to pay for storage for their own furniture as well as the rent on a house.
A furnished property in Whangarei does not seem to achieve much more than an unfurnished property which brings to me the realisation that it may not be worth renting out a furnished property due to the wear and tear the furniture may receive during the tenancy.
If the furniture breaks during the tenancy due to standard wear and tear the owner is responsible to replace it. This could end up being quite an expensive exercise should a few of the appliances break down or need replacing during the tenancy.
A furnished property may end up having more vacancies than an unfurnished property since the type of tenant that rents a furnished property tend to be a short-term work contract or perhaps holidaying in an area for a shorter length of time e.g. 3 months.
Prior to a tenant moving you need to do a thorough inventory report with photos of all the belongings in the property. When the tenant vacates you need to go back over this and ensure that everything is still at the property. This can be rather time-consuming to conduct.
Furnished properties tend to attract a professional person who is staying in the area for work and does not want to bring all their belongings with them. Often it may only one person who will rent the house as it is more cost-effective than staying in a motel long term.
Wear and tear on a furnished property may be less as people are not moving furniture in and out of the property as often as an unfurnished property.
If you have furniture and you need somewhere to store them – leaving a house furnished can be a cost-effective option for storage if you are not precious about the furnishings.
Personally, I would stay away from furnished properties as they tend to be hard to rent, have longer vacancies and sometimes can attract more problems than they are worth.
If you would like more information about renting your house furnished or unfurnished please do not hesitate to get in touch with us.