Furnishing a rental property is completely different to furnishing your own home. When you live in the home you are furnishing, you know how you will use the space, which makes it much easier to choose the right furniture for the space. You will also know what you like and the styles you prefer, which can make furniture selection a much simpler task.
As a landlord, furnishing your rental property can be challenging. When you don’t know how the space will be used, who will be living there, how long they will be there or how well they are likely to look after the property, you need to approach things in a different way. However, even with all of this uncertainty, you can still create a beautiful interior that will make the right impression on potential tenants and ensure that you can get the best possible return on investment from your rental property.
Let’s take a look at a few things you need to keep in mind when you are furnishing a rental property as a landlord.
Start With The Basics
When you’re furnishing a rental property, the first thing you need to do is sort out the basics. The living room will need a 2 seater sofa, a coffee table and a side table for the TV. You will need to add a wardrobe, bed and bedside table to the bedroom and the kitchen or dining room will require a dining table. Once you have these bare essentials installed, the rest of the house will start to take shape around them.
Including white goods in your rental property can help you to get a better price from your tenants. Again, it’s smart to focus on the basics such as a fridge/freezer, a cooker and a washing machine. Some landlords like to go the extra mile by installing a dishwasher, a dryer and other optional extras. While these additional appliances might cost you more upfront, they will increase the rent you can charge, ensuring that they pay for themselves over time.
New Vs. Used
First of all, there’s nothing wrong with buying used furniture for your rental property as long as it is in good working order, the furniture is clean and it looks well. Buying pre-loved furniture is a great way to save money and it can also add some character to your interior. You can also consider upcycling items to create a unique style in your rental. Buying new furniture will, of course, be more expensive. However, new furniture typically comes with a guarantee and it will look much better in your rental property, which can help you to justify charging more rent.
However, if you are going to buy new furniture, be sure to start with a new coat of paint and perhaps upgrade your flooring while you’re at it. New furniture in an old, dated interior will look out of place so if you’re opting for new furniture, go the extra mile and do up the interior of your property first.
Put Some Effort Into Furnishing Your Rental For A Better ROI
Rather than simply adding furniture to your rental property’s interior for the sake of it, put some effort into choosing pieces that look great and fit the space well. Select furniture that looks well cared for adds to the overall look and feel of your property rather than simply serving a purpose. Having the right furniture in your rental will help to make the right impression on potential tenants and ensure that you get the best ROI possible from your rental property moving forward.