Landlords often ask us if they should rent their investment property furnished or unfurnished.
If you have a short term rental, furnishing it is a must. However, if you have an investment property on the market as a long term rental, we always recommend that landlords rent it unfurnished.
Why do we recommend unfurnished rentals? The key as a landlord and an investment property owner is to maximize your income, right? Vacancies will cost you money; that is income you will never get, so you want to minimize the amount of time your property sits on the market unrented.
In our experience, less than ten percent of the market is looking for a furnished, long term rental.
So, if you’re only marketing your property to ten percent of the market, it is going to take you a lot longer to get your property rented out. When it takes you too long to find a tenant, you lose money. Lots of money!
The best course of action is to remove the furniture from your property.
Move it out and rent your place to the 90 percent of the market looking for unfurnished long term rentals. Once you do that, you will get your rental income flowing.
If you have any questions on how to rent out your property in a furnished or unfurnished condition, contact us or give us a call at 941-500-4511 x3.
