One of the first questions landlords ask is whether to rent out their property furnished or unfurnished? There are of course pros and cons to both and differing target markets require different approaches.
The Positives of Unfurnished
- Less initial set up cost to landlord and less responsibility.
- Tenants may stay longer as they have made an investment in furniture and moving will be more costly.
- If there is tenant demand then rental income may be equal to furnished.
The Positives of Furnished
- Generally, there are more tenants looking for furnished property which means a higher rent and more applicants to choose from.
- You, the landlord, only need buy the furniture once and will have made sure it is the right style and size for the property.
- A nicely furnished property looks move inviting and homely than one devoid of furniture.
The decision to provide a property furnished or unfurnished is one which has to be made on a case by case basis, there is no definitive right or wrong. The first thing to consider is the type of tenant that is being targeted. If the property is likely to appeal to the mobile, younger market then the preference should be to furnish. If the target market is established families, who will likely have their own furniture, then unfurnished will generate more interest.
To find out more about the pros and cons to letting your property in Edinburgh furnished or unfurnished, call our letting team on 0131 473 1591, or use our online contact form.