Are you wondering if you should rent out your rental property furnished or unfurnished? There are a lot of things to consider when making this decision, for example, where is the property located, what price range is the property in, and who are you trying to attract?
For example, if you have an apartment in a college town or vacation destination city, a furnished rental might me a great option. A college student will not have a lot of furniture of their own, and would probably appreciate some basics that would probably be too expensive if they had to buy on their own. Some of the things that could be included are: living room, dining room, bedroom furniture, washer/dryer.
If you do decide to rent it out furnished, you will now need to worry about protecting your investment. Make sure you take pictures of the items and make the renter acknowledge their condition in writing before handing over the keys. It would also make sense to speak to your insurance company, about coverage to this items in case of damage. Also, make sure the security deposit is enough to cover repairs to items not covered by your property insurance.
In some cases, it might not make sense to rent out your property furnished. For example if it is a larger home, and the price range is a bit on the high end, it is better to rent out unfurnished. The families who will usually rent out a larger home, will tend to have their own furniture, and will have their own decorating style. If you are renting out the property furnished, you could be limiting your options.
If you are willing to invest in furnishing your property, but don’t know if it makes sense. Talk to you property manager before making any purchases, to see what is best for your property. For property managers in Central Florida, call Orlando Realty and Property Management at 407-641-5782 or visit our website at http://www.thejaymyersteam.com/