One of the important decisions for landlords who provide a furnished let to make is what to include. While there are some basic rules such as making sure the safety and condition of the furnishings are up to standard, much will depend on the type of tenant you are looking to rent to and what their personal requirements are.
Furnished properties are most attractive to short term tenants – people such as students or executives who are only studying or working in the area for a set amount of time.
Having said that, some long-term renters may well want a fully furnished property if they don’t have the basics such as beds and sofas. Things may be further complicated by tenants who are looking for partially furnished properties which means landlords may need to be prepared to be flexible.
What to Include in a Furnished Let
First talk to your letting agent before you head out to buy furniture. They will be able to tell you what people are generally looking for in your area and what the best options are. Assuming you are going to provide furnishings, the quantity and style you choose is going to be dependent on who you are renting to.
Basic furnishings may include:
- Appliances such as the cooker, fridge, freezer and washing machine.
- Beds, mattresses and wardrobes for the bedrooms.
- Sofa and chairs for the living room.
- Table and chairs for the kitchen or dining room.
You may also want to include additional soft furnishings such as curtains or blinds.
If your key demographics are corporate tenants, to make your property more attractive you may need to think about additional touches such as artwork, coffee tables, even a TV in the lounge. Essentially, you’re creating an executive space that will have higher expectations.
Most students won’t have lots of household possessions and will generally look for a fully furnished flat or house. For this kind of tenant it is a good idea to look for hardwearing furniture that is relatively cost effective but functional. The key is choosing items that are easy to clean, for example, sofas and chairs that have removable covers so you can easily get your property ready for new tenants. Some landlords opt to go for second hand furnishings rather than buying new – if you’re going down this route, however, you need to check the fire safety of the items you are putting in the property.
Families and Professionals
Long term tenants who are either families or professionals will probably be the most difficult to cater for if providing a furnished let. Some will have their own furniture, others won’t. Most people who are moving into a rental property for a lengthy period will want to add their own personality and that will mean their own furniture. Some may need furnishings included at first but want to replace them later.
The key to furnishing your property is deciding upon which kind of tenant you are looking to attract, this is where your local Northwood agent’s advice will be invaluable.