Should You Rent Out Your Property as Furnished or Unfurnished?

So you have decided to rent out your property...but should you rent it out as furnished or unfurnished? Let's look at the advantages of both:-

Advantages of renting out a furnished property
  • it will be much easier to rent out
  • you can get shorter tenancies if that's what you're looking for
  • you can rent your property out at a higher rental value
  • depending on what country you live in, you can get tax deductions
  • you could move back into your property quickly and easily if you so wish
  • tenants don't need to move in furniture (less chance of damage as they'll only be bringing in smaller items)
Advantages of renting out an unfurnished property
  • less wear and tear risk
  • longer tenancy contracts as tenants are investing more effort into the property by moving their items into it (if you want a longer contract)
  • less need for management
  • it's cheaper and faster to get ready to rent out
  • it's cheaper and faster to get ready to sell if you are looking to sell it after tenants move out
Whatever you decide, you need to be as certain as you can be as to which route to take. Some landlords equivocate on the above, and try to "go down the middle". They end up half-furnishing a property and they struggle to rent it out, or get reluctant tenants who can't find anything better. No half measures!

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