If you’re a landlord, you’ll know that there’s a lot of work to be done when it comes to how you present and market your property. Part of this, of course, is whether or not you furnish it – and if you do, in what way.
This special guest post provides some ideas on how to furnish your rental property so that it’s the perfect combination of functional, attractive and a wise investment on your part.
First – take a look at your rental property and consider its location
Have you bought a residential flat on a site (such as the kind developed by the First Urban Group) within commuting distance of a major city? In that case, it’s quite likely that your potential tenants are going to be young professionals.
On the other hand, if your rental property is a home in a suburban area with links to schools, shops and amenities, it might appeal to families, couples and students.
You’ll need to know who you’re marketing it to, as the demographic will determine how you furnish a property.
For instance, a young professional is probably going to want functional, modern furniture that looks the part: leather look sofas, white walls and a flat screen television are must-haves.
On the other hand, families might expect to see a cosy living area, adequate storage for all their belongings and a well-equipped kitchen.
Second – don’t spend too much money
Most tenants will be respectful of your furniture, but there’s always the risk that something will get broken, damaged or stolen.
In fact, just general wear and tear is to be expected, so invest in items that are robust enough for renters but not so expensive that it’ll cost you too much when things need replacing.
Shops like IKEA offer good quality furniture without breaking the bank, and they’ll also be modern enough in design to make your rental look attractive to a wide range of people.
Third – don’t add anything of sentimental value
Similarly to the point above, be mindful of the fact that you’ll be losing control over the contents of your rental property once you let it to tenants.
So, if there’s anything of sentimental value to you, remove it from the property before you let anyone move in. It could get lost or damaged, and while you’ll have home and contents insurance, your precious belongings are going to be priceless and impossible to replace.
Fourth – be open to change
With more and more people renting in the long term, landlords are going to need to be flexible about tenants needing more control over furniture.
Many tenants will want to make the property feel like their home if they’re staying for a long time, so be open-minded about swapping some of your furniture for theirs.
If your tenants ask to move their own sofa in, for example, consider storing yours in cheap self-storage until you’re able to find another permanent home for it.
Just be sure to update your inventory whenever you move furniture in or out of the property, ensuring that tenants stay responsible for keeping items in good repair.
(All images courtesy of Pixabay)