Is it Better to Let a Furnished or Unfurnished Property?

There is no right or wrong answer to this question. Furnished and unfurnished properties both play an important role in the lettings market. Tenants’ circumstances vary and a property that is perfect for one tenant can be completely wrong for another. Which option is best for you as a landlord will depend on a number of factors.

• Whether your property is currently furnished
• The length of time you are planning to rent your property
• The type of property you are letting
• Where your property is located
• The type of tenants you are hoping to attract
• The rent you hope to achieve for your property

Furnished Properties

Smaller properties in city locations are more likely to be let furnished. This is because the rental market for this type of property will generally be younger in age. Properties like this will attract first time renters who have just left home and young professionals who are not looking for somewhere long term to stay. Moving into a fully furnished flat is usually a good option for this type of renter. They will not need to supply their own furniture and will be able to move straight in with minimum fuss and effort.

Advantages

• Attractive to younger tenants who don’t want the expense or hassle of having to buy furniture
• Usually easier to let as the market for this type of property is bigger
• Well-furnished flats can usually command a higher rental value
• If your property is already furnished you don’t have the hassle of emptying it and paying for storage

Disadvantages

• Furniture is subject to wear and tear and you will need to replace items as and when required
• Properties with worn out or scruffy items of furniture may actually be more difficult to rent than an unfurnished property
• A detailed inventory of the contents of the property will need to be undertaken before and after every tenancy
• You will need to take out proper contents insurance to cover the cost of your furniture

 

Unfurnished Properties

Larger flats and houses are more likely to be let unfurnished.  However, the actual definition of an ‘unfurnished property’ can vary. In general, they will have as a minimum, carpets or flooring, curtains or blinds, kitchen fittings, white goods (fridge, freezer, washing machine etc.) This type of property tends to attract more mature tenants with or without families. This is because this type of tenant is more likely to have acquired their own furniture over the years and will want to use it to furnish and personalise their new home.

Advantages

• Attracts tenants with their own furniture so you don’t need to buy furniture
• Less hassle for you as a landlord as you don’t have to worry about furniture wear and tear
• You don’t have to pay to insure your furniture
• You have a significantly reduced liability for council tax during void periods
• Tenants may be more likely to stay in your property for longer
• Preparing your property between tenancies is easier

Disadvantages

• It can take longer to let this type of property depending on the area

 

Before making any final decision on whether to let your property out furnished or unfurnished, it is also a good idea to spend some time investigating the demand for each, in your area. Go online and check out how properties, similar to yours, are being let in your area. This is where employing a good local letting agent like Western Lettings can really help. They will have experience of the advantages and disadvantages of both options. They will be happy to use their intimate knowledge of the letting market in your area, along with your own particular circumstances to help you decide on the choice that is right for you.

If you are looking to let your property and need some help, Western Lettings is an award-winning letting agent in Glasgow. We know the local property market inside out can help you decide on the best way to let your particular property.  We also provide full property management services. Please get in touch or give us a call on 0141 357 0436