Furnished or Unfurnished?
We are often asked this question by prospective new Landlords. Should I rent my property furnished or unfurnished? Well, there are a few things to consider.
1. Broadly speaking, the demand from prospective tenants is about the same for these 2 options. In other words you are probably not going to be any more likely to let the property whether you do it furnished or unfurnished. The exception to this is some larger modern developments of flats where generally the properties are provided furnished as this is the main demand.
2. An unfurnished let can be simpler to monitor and manage. With only your floors and walls to worry about, it is easy to keep an eye on the condition of the property between tenancies and to notice any damage or problems caused by outgoing tenants.
3. Providing a property unfurnished can encourage a tenant to stay longer. Generally speaking, as a Landlord, this is what you want. You do not want tenants coming and going every 6 months where possible. It means paying more agent fees and risking more empty periods. It you provide a property unfurnished, tenants have to hire a van and the move in process is much more time consuming for them. With their own furniture in situ they often make the place more of a home and end up staying that little bit longer.
In summary, demand for furnished and unfurnished properties is about the same. By and large we would recommend an unfurnished let as doing this will encourage longer tenancies. If you need any further advice, do let us know.