Furnished or Unfurnished?
Landlords moving out of their homes to list for rent often ask: Can I rent my home furnished?
That's a great question and from our experience, there are pros and cons to each situation.
Pros and cons of a Furnished unit:
ProsHigher Rent with furnishings No storage costs No furniture removal Possible traveling nurse or student or corporate housing with less risk for nonpayment of rent |
ConsIncreased Potential for Damage Higher Turnover (1 - 12 month leases) Higher Turnover Costs Increased Risk of a New Tenant every few months Increased Landlord Liability |
Pros and cons of an Unfurnished unit:
ProsLonger Leases (12 - 24 months) Stable, predictable rent |
ConsFurniture removal Storage costs Market Rate Rent is lower than Higher Rent with furnishings |
Which Option Is Right for You?
The best option for you will depend on your specific circumstances. If you are looking for a higher rent and possibly traveling nurse or student or corporate housing, then a furnished apartment may be the right choice for you. If you are looking for a steady long-term renter with less turnover, then an unfurnished apartment may be the better option.
What do we recommend?
We do not manage Furnished rentals. The risk of liability and added management costs do not justify the added rental income. It may take more work upfront to remove the furniture in the home, but we know each day your home is not rented is money lost.
If the home is currently unfurnished, we recommend leaving it that way. Buying furniture to increase the rent and risk is not a good investment.