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Should I Furnish My Rental Property or Not?

Should I Furnish My Rental Property or Not?

Deciding whether or not to furnish your rental property can be a tough decision. There are pros and cons associated with both furnished and unfurnished properties, and which is best for you really depends upon your requirements.

Below, you’ll discover everything you need to know about those pros and cons.

What classifies as a furnished property?

When deciding whether or not to furnish your rental property, it helps to know what furnished actually means!

Even an unfurnished property generally comes with a few basic necessities such as a fridge and window coverings. However, a furnished property will also include furniture, and everything the tenant will need to feel comfortable. You’ll provide all major appliances such as a cooker, washing machine and a freezer. You’ll also need to provide soft furnishings and furniture such as beds, chest of drawers, sofas and wardrobes.

It’s worth keeping in mind you can also opt to offer a part furnished property, rather than a fully furnished one. There are no set rules as to what you should provide in a part furnished house, it’s generally an option that’s halfway between unfurnished and fully furnished. So, you’ll provide some of the furniture and soft furnishings.

What are the advantages of furnishing a rental property?

There are some pretty compelling advantages which can come from offering a furnished property. Firstly, you’ll find you can typically charge more rent if the house comes fully furnished. It reduces the cost to the tenant, making the property easy to move right into. This also means you’re going to attract a lot more tenants than you would if you were offering an unfurnished property.

Furnished properties in Leeds, particularly in Leeds city centre, are much more in demand than unfurnished properties. So, if you’re looking to rent your property out quickly, you will definitely want to consider furnishing it first.

Another advantage is that when offering a property furnished property in Leeds, you’ll receive tax benefits based upon the goods you’ve provided.

Is it right for you?

Now you know the benefits of furnishing a rental property, it’s time to work out if furnishing is the right option for you.

The main thing you need to consider is the type of tenants you’re looking to attract. If you do your research, you’ll see that some types of tenants are more drawn to furnished properties than others. Professionals and students especially are more likely to look for a furnished property they can move right into. So, consider your ideal tenant and whether they’d benefit from a furnished or unfurnished property.

At Cassini Properties Estate and Lettings, we find quality furnished properties do tend to be let out quicker than unfurnished properties. For a free property appraisal call Cassini Properties Estate and Lettings on 0113 2497313.

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