Many business moves involve evaluating the pros and cons of any decision, and the business of apartment rental is no exception. In this case, we’re talking about the decision to furnish or not to furnish. Is providing furnishings for your tenants like couches, chairs, tables and beds a good idea? Is it worth the extra cost? Will you get back your investment in rental income? Let’s evaluate.
Furnished apartments can be a draw for people who are looking for a short term rental situation, or for folks who simply aren’t home very often. An airline steward might love a furnished apartment since they travel so frequently. A student might also want this convenience because they won’t want to spend money furnishing an apartment. This can be good and bad – you might be looking for a more long term tenant, or someone who will want to make the place their own. Furnished apartments may require you to charge more, and to some people this may be worth the price. So as you can see there are pros and cons at work.
If you are seriously considering this option, check out your local thrift store or resale shop for great low-cost furniture options. A slip cover or a fresh coat of paint or stain can really transform a piece of furniture. That way you can reap the benefits of providing furniture without a huge added expense.