Pros and Cons of renting a furnished property

Renting a furnished property can be profitable if done right. It is an expensive upfront cost, an d it can hurt or help you attract your ideal tenant.

Take into account the financial details like cost of repairs, tax benefits, and how much can you charge for the complete package.

Think about your market or ideal tenant. Furnished apartments attract first time renters, students or tenants uncommitted for the long-term.

Each tenant is different, but choosing a neutral style will help appeal to a larger market. Remember you can depreciate the cost of the furniture in your taxes over the period of five years, always invest with this in mind.

Another reason to provide the furniture: The market for furnished apartments isn’t saturated; they usually are in high demand.

But on the other hand, it could be expensive and with an unfurnished property; you will have fewer concerns over general wear and tear if the tenants have their furniture.

If you are on the fence, think about your goals as a landlord, and what’s a better strategy to your business.