Furnishing a rental property doesn’t guarantee an increase in the amount of rent that you can charge, but it gives you the edge in renting it out especially when the property is well-designed and maintained. Poorly-furnished, mismatching furniture and cluttered properties don’t make a good impression and you don’t want your property to stand out from the competition for all the WRONG reasons. Rather than being able to be selective about who your next tenant is – you might find it hard to find any at all.
So what is the proper way to furnish a rental property that won’t cause you too much of a headache?
It’s important that you know who your ideal target tenants are, as that will be the basis for which furniture you will need to purchase. If you plan to let to students, every bedroom should have a bed, a desk and a wardrobe and in the communal area there should also be a sofa and chairs and dining table. Corporate tenants, on the other hand, may opt for a part-furnished rental property that only includes the basics, or they may want the full Monty and a higher spec. Know your audience!
One basic rule when furnishing a rental property is to avoid clutter. If you think putting in all sorts of eclectic furniture that you have collected over the years will attract more interested tenants, you’re wrong! Minimal but matching furnishings are better than a load of clutter that doesn’t complement each other.
Now let’s talk about the quality of the furniture. To ensure less headache in the long run, make sure that everything you buy will is sturdy, is easy to clean and won’t cost you too much to replace especially for student letting. The best options are those trade suppliers that sell to professional landlords and offer a wide range of options to suit every type of tenant and budget.
Sofa’s with removable covers that can be washed or real or faux leather covers that you can easily wipe clean are a great option to consider when you furnish your rental property. When choosing quality beds, go for Divan beds which generally last longer than those with flimsy bed frames. Beds with built-in storage and drawers are also a great choice.
If you have struggled in the past to get the furniture you want at a price that is cost effective for you, or if you resent having to pay out upfront for furniture and only make your costs back over time then we may just have the solution for you.
Landlord Smart offers specialist lease finance to landlords to fund furniture and other assets and you get to buy from the trade supplier of your choice (visit our website https://landlordsmart.co.uk FAQ section under ‘Who can I buy from’ to find our list of approved suppliers. With us, you can get the quality furniture that you want, not just what you can afford. Feel free to send us an email firstname.lastname@example.org for a quick chat to answer any questions you have!