In this two-minute read, we ask some questions you
should think about before renting out your property in Kent.

Once the last lick of paint
has been applied and the carpets have been laid, it’s time to decide whether or
not to furnish your rental property.

It’s a question that has many
landlords scratching their heads. Does a furnished property command a higher
rental yield? Or is it more hassle than it’s worth?

What type of rental
property do you have?

Certain rental properties
need to be furnished. For example, if you own a House in Multiple Occupation
(HMO) it’s wise to provide furniture, even if it’s the basics of just a bed,
wardrobe, and chest of drawers.

Freehold properties are best
left unfurnished so that tenants can make the property more homely.

What type of tenant does
your property attract?

Furnished properties are very
attractive to short- and mid-term renters such as students and professionals.
So, if your property is located close to a university, a furnished property is a
good idea.

Students will move in straight
from their family homes so are unlikely to bring bulky furniture with them.
Professional tenants prefer furnished homes as it saves them money and they can
move in quickly.

An unfurnished property is more
suitable for families or elderly tenants who rent for the long term and tend to
bring their own furniture with them.

Do you have insurance?

If you furnish your rental
property, you may want to think about landlord’s insurance to cover any damage
that can occur to items within the premises. While this is an additional
outgoing, if a large item of furniture needs to be replaced due to breakage or
tenant damage, you’ll usually be protected.

Other points to think about
when considering furnishing your rental are:

-
If tenants are
moving large items of furniture in and out, there is a higher risk of damage to
your walls/floors

-
As a landlord,
you are not responsible for insuring tenants’ furnishings

-
Tenants in
furnished properties can move out easily, so you can get your rental back on
the market quickly

-
Depending on the
location of your rental and the quality of your furnishings, you may be able to
command a higher rent

If you want more help and
advice as to the best furnishing option for your Kent rental property, give us a call on 01634 304326.