Landlords will often ask us if they should rent their investment property furnished or unfurnished.
If it’s a short term rental, then obviously you are going to want to furnish it. However, if you have an investment property on the market as a long term rental, we always recommend that landlords rent it unfurnished.
Why do we recommend unfurnished rentals? The key as a landlord and an investment property owner is to maximize your income. Vacancies will cost you money; that is income you will never get, so you want to minimize the amount of time your property sits on the market unrented.
In our experience, less than five percent of the market is looking for a furnished, long term rental.
So, if you’re only marketing your property to five percent of the market, it is going to take you a lot longer to get your place rented out. When it takes you too long to find a tenant, you lose money. That’s income you are never going to get.
The best course of action is to remove the furniture from your property.
Get it out of there and rent your place to the 95 percent of the market looking for unfurnished rentals. Once you do that, you will get your rental income flowing.
If you have any questions on how to rent out your property in a furnished or unfurnished condition, contact us or give us a call at (813) 875-7474.