A client recently asked me “what exactly does a furnished property require?” and I thought, ‘that’s a good question’. Apart from the obvious bed, couch, TV & table, what does a tenant moving into a furnished property expect?
I have leased numerous furnished apartments and every one had a different level of furnishing, from the bare basics that were just mentioned to the properties with literally everything down to the teaspoons & toilet paper. It generally comes down to the tenant, what do they require and why are they renting a furnished property.
There are two main types of tenants who rent furnished properties and both would expect something different.
The most common type would be those tenants who have recently arrived into the City on a permanent basis, whether they be from Overseas for Study or interstate for Work. These tenants are looking at renting for 6 months whilst they get a feel for the city and to reduce on the stress of moving such a distance. These tenants are generally flexible with their level of furnishing, many are fine with the basics as they will be needing to buy their own furniture eventually but also happy to take a fully furnished place as it then delays that cost.
The other group of tenants that regularly lease furnished properties are those who have recently shifted to the city on a temporary basis. These could be students on exchange or an employee of a company on a short contract etc. The level of furnishing required for these tenants is high, they require everything as they are here for a short period and are going to factor this into their decision when choosing a property.
When deciding whether to furnish a place or not, factor into your decision as to which type of tenant would you like to target and how long would you be wanting to lease the place. Furniture ages and dates much faster than a building and ensuring your furniture is of good quality and standard will ensure your tenant not only looks after the place but will reduce the risk that they will shift out.
Bees Nees City Realty are very experienced in dealing with furnished property and would love to assist with your furnished investment. If you are wondering what will your furnished property require please contact us today!