Why are Property Owners renting their properties Fully Furnished?
For many property owners, renting furnished properties just makes good sense and provides flexible options. The property is ready to go for short term accommodation, that is from 3 nights, 3 weeks to 3 months, or can be offered for longer term leases say for 6 -12 months. An additional plus is that the property can be offered for sale, as it is already ‘dressed’ for sale.
These days furnished properties offer much more than a studio in a loft, in fact furnished properties can be amongst the most luxurious rentals available and can significantly increase return on investment.
Fully furnished apartments or homes are move-in ready which makes them the perfect solution for:
- ex-patriats working overseas on contracts
- the executive relocation market
- holiday makers
- homeowners needing to vacate a property for building repairs covered by insurance
- buyers needing accommodation between settlement of properties
One of the main reasons for renting a property fully furnished is the financial gain; upfront costs may be higher however this is balanced by achieving higher rental rates. The financial benefits continue at tax time as furnishings depreciate over time and this depreciation can often be written off quickly. This allows for immediately reaping the benefits of the investment which can continue over the life of the apartment with redecorating and upgrades.
The other Pros for renting a property fully furnished include:
- a ready-made flow of potential clients
- the property can be upgraded or updated at any time
- attracting high-quality tenants who want to avoid long stays in a hotel room
- less damage to doors, walls and carpets from moving heavy furniture in and out of the property
Having considered all the pros, there are inevitability a few cons to renting a fully furnished property as there will still be maintenance to attend to and the additional cost of utilities, Wi-Fi, insurance and cleaning. However, management companies like australianluxurystays.com.au can make the entire process easier for you. We have a simple step-by-step process that can get you started and help prepare properties with proper staging. With our help you can be ready to move into the market faster than you imagined.
For the tenant, renting a fully furnished property is the smoother way to make a move – with no furniture to move, potentially all you need are your clothes in a suitcase, grab your laptop, into the car and you’re on your way.