Furnished, unfurnished… deciding how to market your newly purchased or newly vacant investment property is an important step in ensuring that the overall reward as a landlord is met.
In some ways a property full of furniture can be the ultimate package for a particular type of renter. For those new to an area, recently left home, or an interstate worker, for example, moving straight in without the hassle of coordinating movers or purchasing furniture can be a welcome relief. And anyone who has attempted to move furniture up flights of stairs into a unit will certainly appreciate this!
On the other hand, the appeal of renters to make the property ‘theirs’ by adding their own touches of décor and furniture should also be a consideration.
The type of property and the location may provide insight into whether or not it is a good decision to market the property as furnished.
If you have purchased a property that comes already furnished, there are a few things to consider. Firstly, what is the condition of the furniture? Now it doesn’t necessarily need to be brand new, but it does need to be in good condition. Unsightly furniture will indeed turn potential tenants off, regardless of the price, location and state of the property itself. Secondly, does the furniture ‘fit’ the property? Does the type and style work to the advantage of the property? If it doesn’t serve a purpose to the liveability of the property, get rid of it and reduce the sense of clutter.
In the same breath, keep styling and décor neutral to allow tenants the opportunity to add their own personal touches.
If you need advice on the best way to style and prepare your property for the rental market, chat to your property manager. They know your local market, potential tenants and how other properties are performing in the current market; and are a wealth of knowledge when it comes to making sensible decisions about your investment.
