Should I furnish my rental apartment?

Summary:

Yes, you should furniture your apartment as the increase in rent is upward from $50-$100 per week, if not more and ensures your rental property is much more inviting to move into.

Apartments are different to houses, where not all furniture fits the space. So often furniture is bought to fit the area. Secondly, the logistics if moving furniture up stairs and lifts is not desirable and tenets would much rather it be there and already furnished.

Furniture included means white ware, kitchen appliances, cutlery, plates, bowls and so on too. Bedding is not expected though.

TRANSCRIPTION:

Should you furnish your apartment? Good day, it is Andrew Murray here from the Apartment Specialists, and the short answer to this question is absolutely. If you are an investor and you are renting out apartment, you are going to be getting a minimum of $50 to $100s more per week, if you are renting your apartment out depending on how big it is.

Now, a lot of people ask me, "Why?" In houses, people prefer to have no furniture. Apartments are very different.

Firstly, you are generally buying furniture that fits the apartment. For example, if you put a couch in a house, most likely it is going to fit. If you put a couch in an apartment that is too big, it may not fit the space. It may not maybe look its best. You have got to utilise the space.

The second reason is, when people move into an apartment, they want convenience. They do not want to lug around furniture. They do not want to take it up four, five, six, seven floors. Tenants want a furnished apartment, especially when most tenancies are around about one to two years long. So, it is not as permanent. Yes, it is great to find a tenant that is four or five years, but that is quite rare, and if you do have one, look after them.

Now, when talking about furnishing an apartment, a lot of people say, "What do you mean?" I mean all whiteware.  These will include washing machines, your dishwasher, your drier and that kind of thing. I mean all kitchen appliances, your knives and forks, glasses, bowls. Couches, TV, tables, chairs.  I am talking about beds and  I mean the bones.

For example you have got the bed, but you are not the supplier of sheets. You may put on a duvet and sheets for photos, but you are not supplying that kind of thing. Otherwise if you have got a new tenant, you are going to have put in more. But it is also when you are renting an apartment that is furnished, it looks better. Just like when you sell an apartment when it is furnished - it looks better.

This is a bit of a short one, but it is so important, because if you look at the returns - you make your money back on what you spent on your furniture. Basically back in probably about a year, 18 months, and you are getting such a better return for your money.

Anyway, make sure you furnish your apartment. Andrew Murray, Apartment Specialists.

Cheers.