With so much competition for rental property, you may be considering ways to make yours stand out, as well as offering more “perks” that can allow you to charge a higher amount of monthly rent. One way to do that is to provide added amenities – which can include furniture.
A furnished house or apartment unit will typically come with all of the furniture that a potential tenant would need to live comfortably. This can include:
- Sofa, table, and lamp(s) in the living room
- Television(s) in the living room, and possibly in one or more of the bedrooms
- Bed, dresser, and nightstand in the bedroom(s)
- Table in the kitchen, along with a variety of dishes, glasses, pots and pans, and utensils
Appliances should ideally include a refrigerator and oven/stove. Additional appliances such as a dish washer and/or a washer and dryer could be considered, too – which can also allow for a higher monthly rent charge.
In addition to charging more rent, another plus of offering your rental property furnished is the ability to charge a higher security deposit. This can go towards repairing or replacing furniture that becomes damaged.
There are some items to consider, though, before spending what could be a substantial amount of money on furnishings. For instance, furnished units tend to have higher turnover, so you may find yourself looking for tenants more often. There is also the higher potential for damages.
In any case, there are many jobs that property owners must do – so having an experienced team like Central Florida Property Management on your side can allow you to focus on other things.
If you own residential rental property in Orlando and/or the surrounding Central Florida locale, contact us and we’ll give you more details on how you can continue to collect income and increase equity on your real estate investments while at the same time handing off many of the time-consuming tasks. You can call us at (407) 429-4834 or send us an email by going to https://cflpropmanagement.com/contact-us/. We look forward to hearing from you.