Best Way To Rent My Flat?

steve2005

We're going to be renting out our flat soon and wondered about the best way to do it.
We have two options: Furnished and unfurnished.

My thoughts on the two are as follows:
Furnished means it has sofa, chars, beds, wardrobes, curtain etc so the new people can move in straight away and enjoy the flat.
Unfurnished means the opposite. No sofa, beds,wardrobe etc so the new people have to bring their own stuff or buy stuff to use.

Furnished would mean a higher rent payable as the flat is ready to move in to.
Unfurnished would mean a lower rent payable as the people need to furnish it first.
Furnished means the people could move out any time they like (outside of STTA) meaning the flat could be empty and no rent coming in.
Unfurnished means the people who move in are more likely to stay there for a prolonged period, so although monthly rent would be lower, you're guaranteed a slightly lower rent for a much longer period.

This is just how I think it works, so happy to be corrected, and for people to throw their opinions at me.

Thanks in advance

suziqqq

If i were looking to rent a flat or rent out one I would choose the option of white goods only. Some people would be put off if furniture is not to their taste and are more likely to look after stuff that they own, plus the more things you provide means extra wear and tear and more hassle and may not be economical for you even if the rent is higher.

Jenniefour

Are you certain that furnishing the property will bring in more rent? In London that's not the case and most tenants prefer unfurnished.

Work out how much it will cost to furnish it to a basic standard and then whether you will ever hope to see that back, and over what period of time. I would be asking a local letting agent.

HappyMJ

Virtually zero flats around my way are unfurnished. The ones that are do not command a premium so landlords don't furnish them. You will get longer term tenants if you "let" out an unfurnished property. If you want students then furnished is the way to go.

Kynthia

Whether to go furnished or unfurnished depends on your property type and your target market. You'll be best off speaking to a local letting agent who'll tell you what your options are. Round my way a furnished house will put off renters as those wanting a house usually want to stay long term and have their own furniture. However a furnished flat might not command more rent but will let quicker to first time renters and young people. However your area may have demand for furnished houses, such as big companies attracting professional renters who don't want to be dragging round furniture every time they move but prefer quality furnishings. So do some research in your area.

Mercurial

I rent my flat out unfurnished I was thinking of buying furniture but my letting agent said no that most tenants would prefer their own and I wouldn't necessarily be able to put the rent up if I did furnish it. I have been letting it out since 2005 and have always found a tenant within a week or two.

steve2005

Thanks for the replies.
It's more a case of do we leave our furniture there and buy new stuff for our new house, or bring the old stuff with us and buy new stuff as and when.

I've spoken to the two letting agencies who deal with our building and there is currently people on awaiting list to move in, so it's just a case of maximising rental income.

HappyMJ

Does all of your existing furniture meet fire regulations?

cloo

I gather most folks prefer to 'bring their own', so it might widen the appeal. I rented mine part furnished (master bed, sofas, drawers and one wardrobe basically), and in the end removed a few things at the tenants' request.

justjohn

Depends on your type of tenant..... some people will just wreck it. some people will use it carelessly and a small "minority" will look after it.


If you are not bothered about the furniture leave it in. its probably not going to last your tenants as long as it would last you.

KILL_BILL

depends you can have fully furrtnished, part furnished which would denote kitchen appliance only or not furnished at all.

the cost between the does not vary that much becuase unless you are renting a premium flat furnished then you would have to furnish it with better furniture than cheap tat from argos.