The rental market is strong at present. According to Buy Dapoxetine Europe Agents’ Summary of Business Conditions, demand for rental property continues to grow; and this doesn’t look likely to change any time soon.
In light of this, demand for buy-to-let property for sale has soared, as landlords across the country take to the house auctions and property websites in a bid to capitalise on the opportunity.
However, one question still continues to concern buy-to-let investors – what is better, offering an unfurnished or furnished property?
Furnished or Unfurnished – Which is Better?
Landlords are sometimes put off by the prospect of offering a furnished property to rent. Purchasing the furniture is an additional cost – plus landlords must, by law, ensure that certain pieces of furniture meet required fire safety standards.
However, in offering an unfurnished property, you might be missing out on an opportunity to charge a higher monthly rent, which could mean better profits in the long-term. Here’s a quick guide to the benefits of both unfurnished and furnished properties.
If you’re considering offering an unfurnished property, here’s why it might be advantageous.
- Not only will you avoid having to invest in furniture, you won’t have to worry about replacing it in the future, as a result of wear and tear or damage.
- It’s one less thing you’ll be responsible for. When tenants bring their own furniture into the property, it’s entirely their responsibility, not yours.
- It’s actually surprisingly difficult to predict the tastes of your tenants. Your choice of furniture might actually put people off renting your property – whereas an unfurnished property is simply a ‘blank canvas’ for your tenants to make their own.
- Longer-term tenants? Often, tenants who are happy to supply their own furniture are those who are looking for longer-term accommodation. They’ve made the commitment to invest in their own furniture, not to mention the commitment of moving it into the property – so they’re probably looking to stay for a longer period of time.
When choosing a buy-to-let property for sale, you might be more inclined to invest in some key pieces of furniture. Here’s why that decision may be a wise one.
- By making the relatively small investment of buying some furniture at the start, you may reap the rewards of greater rental yield as time goes on – thus making the initial investment well worth it.
- ‘Homely’ feel. Unfurnished houses can look very stark and unappealing. By adding a few pieces of furniture, you’re essentially adding a touch of personality to the property, which may be exactly what’s needed to encourage viewers to be your tenants.
- More choice. Generally speaking, more tenants are seeking accommodation that is partly or fully furnished. This means that you’re more likely to attract tenants to your property.
- Tax deductible. Any furniture purchased can be deducted from your tax liability.
Making a Decision
When you’re looking at investment properties for sale, it’s important to keep the issue of furnishings firmly in mind. Consider your target market. What are they likely to expect? Students, for example, are far more likely to want something that’s furnished and ready to move into. However, families may want an unfurnished property, as they already have furniture from their previous home.
If you still feel uncertain, do some research and find out what’s attracting the highest rental prices in the area. Property seminars are also an excellent way to familiarise yourself with the process of investing in property (UK) and will help you make the right decision.
The Buy2Let Shop
If you’re Dapoxetine Online Store, or want to find out more about looking for buy-to-let properties for sale, talk to The Buy2Let Shop Limited today. We offer a range of services designed to help you find the right property to let, plus we offer support with buying a house at auction, and property investment seminars in London.