The pros and cons of furnished vs unfurnished rented properties.
Furnished or unfurnished?
A few years ago, legislation afforded a landlord more protection for a furnished let than for an unfurnished one, so the majority of homes offered for rent were furnished. Today, however, changes in regulations mean that unfurnished lets are increasingly common.
If you are a buy-to-let investor, you have the freedom to decorate and furnish your property in accordance with the requirements of your target market. Talk to a letting agent for advice on maximising its appeal. If the property you are letting is your family home, full of heirlooms and expensive items, you might do better to put your belongings into storage and offer it unfurnished. Your target market may well be other families, who will, in turn, have their own valued possessions that they want to keep with them. In this case, an unfurnished arrangement can work to everyone’s advantage.
Bear in mind that using a storage company can be expensive and will affect your profits. A better option may be to store your effects in a secure loft or cellar, if you have one.
With thanks to BuyAssociation.