Renting a flat - do I put in beds?

stevetodd

LouC wrote: »

Hi there - i'm renting a flat for the first time. It's a nice place, two bedroom townhouse terrace in N.London. We're painting, repairing, putting new carpets in. In the bedrooms we're going to get some IKEA stuff - a wardrobe and drawers in each. We're hoping for a prof couple/ 2 singles. Except we don't know what to do about beds. We're taking our bed as it cost £600, and the bed in the second room is falling apart.

So, should we get new beds? How much should we spend? What do we do if we spend money on new ones but the tenants want to bring their own?

Any advise greatly appreciated!
Thanks
Lou

It really depends on the local market, I own rental property in Battersea (SW11) it has to be furnished to get a good return, my wife owns property in Hackney where it varies but she tends to rent them out partly furnished (no beds) but is prepared to be felxible. We both have a property in Tottenham which is furnished (but again we would be flexible). Different areas have different trends, some areas have both a good furnished and unfurnished market. Speak to letting agents (just for the advice I mean, as they will know the market)

I have stopped providing mattresses, I think tenants (certainly mine) tend to accept this and appreciate having their own mattress rather than sleeping on a used matress.

socrates

I disagree with anyone who says get advice from Letting Agents they have their own interests at heart and once they hear you may be negotiable on furniture they will be making all sorts of promises to prospective tenants. Easy to promise spending someone elses money.

Perhaps a visit to Landlordzone forums is a better place for this question. After all you will be a Landlord soon!

olly300

socrates wrote: »

I disagree with anyone who says get advice from Letting Agents they have their own interests at heart and once they hear you may be negotiable on furniture they will be making all sorts of promises to prospective tenants. Easy to promise spending someone elses money.

The letting agents will be thinking that you are going to use them. And in lots of areas the price difference between furnished and unfurnished flats is extremely small.

socrates

Very true olly300 so best not to buy anything unless you absolutely have to. One tactic I used when people asked for furniture is to agree but increase the monthly rent.

sooz

It also depends on access. Do you mean newbuild town house? In which case, most are almost impossible to get furniture into without completely dismantling them (both the furniture & the house/stairs/windows etc)

Personally I'd leave it unfurnished for now, & offer a set amount of furniture (& set budget) if potential tenants want it.

poppysarah

This is where a local LA's knowledge comes in handy. You need to pick some brains about what sort of property they can rent most easily.
Discuss with a few the options of them managing the property whilst you pick their brains. Don't sign up for anything with them though - you should get a few pointers off them.