FURNISHING A RENTED PROPERTY - ADVICE FROM LETTINGFOCUS.COM.
But much as I like the convenience of someone trawling the supermarket aisles for me, queuing at the checkout, packing my shopping and delivering it to my door, I have to admit that I’ve been sorely disappointed at times with the quality of some food items delivered. There’s nothing quite like seeing what you are buying before you delve into your wallet.
But as always there are more costs to consider before your property is ready for viewing tenants, and particularly so if you are renting in an area where the demand is for furnished properties.
But first make sure there really is demand for furnished places. If you don't need to, then don't do it. And, if you don’t furnish, the costs of insuring will be less - there is no need to insure something you don’t have!
The only way to find out is to test the market first using adverts. Do people in your local market want furnished property or not?
If you provide fewer furnishings, you can get the inventory done much faster and cheaper and with less stuff to break or damage there will be less to haggle over at the end of the tenancy.
When it comes to furnishing your property you basically have two choices; you can furnish it yourself or you can get someone else to do it for you. There are of course advantages and disadvantages to both.
WILL FURNITURE FIT?
A further consideration is access to the property; make sure you measure all entrances, hallways and stairways or lifts to ensure that you can actually get the furniture at least as far as your front door!
Buy to let furnishing specialists predominantly sell their wares as furniture packages, with ranges from basic to premium and prices from £900 to £9000. A furniture package includes all the items deemed essential for buy to let furnished rental markets and includes sofa combinations, coffee tables, dining tables and chairs, beds and mattresses, wardrobes and chests. As the old adage goes, you get what you pay for.
This is a brief guide to a complex subject. If you need more advice ask about our one to one advice service - see links below.
ABOUT DAVID LAWRENSON AND LETTINGFOCUS
At LettingFocus.com our main work is our consultancy role in which we help organisations and public bodies with their products and services for the private rented sector.
If you are from an organisation go to our home page: LETTING FOCUS HOME PAGE.
As well as our work for organisations, we also offer a limited amount of unbiased consultancy advice for landlords.
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Copyright 2011 David Lawrenson. This article must not be copied or re-used without the author and copyright owner’s prior permission.
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