Meagan White from TLG discusses the complexities and considerations landlords must weigh when choosing between furnished and unfurnished rentals. When determining the best rental to fit their needs, landlords focus on occupancy management, accessibility, and the importance of budgeting and service provisions for furnished units. To gain deeper insights on furnished versus unfurnished rentals, you can watch the podcast episode above, and review the key points of the discussion below.
Key Points:
Furnished vs. Unfurnished Rentals:
- A landlord’s decision to furnish a rental depends on building regulations, occupancy, income fluctuation, and preferences for consistent revenue.
- Furnished rentals typically involve more moving parts, such as furniture packages, utilities, and seasonal price fluctuations.
- Unfurnished rentals provide more stable, predictable income, appealing to landlords who prefer steady monthly revenue.
Income Management for Furnished Rentals:
- Companies with furnished rentals must budget for occasional vacancies, typically a few days between guests, rather than long vacancy periods.
- Managing occupancy fluctuation is key to sustaining rental income.
Accessibility Considerations:
- It’s important for furnished rentals to be as accessible as possible, incorporating barrier-free designs like wider entrances and smooth transitions to accommodate a range of tenants.
Typical Costs for Furnished Rentals:
- Costs associated with furnished rentals include not only the furniture but also services like phone, cable, internet, and housekeeping. Upfront investments in maintaining the unit can save on long-term costs by preventing larger issues.
