When putting your property up for rent, you will want to provide the appropriate amenities to help attract the type of quality tenants you want living in your home or condominium. This is true of any Bellevue property for rent. As a Bellevue property manager that offers property management services to Bellevue home and rental property owners, we want to help you weigh your options. You might be wondering exactly what types of features and services you should consider including with the rental. For example, you will want to consider whether you should fully furnish your Bellevue rental or not. The answer to this question will rely on several other factors, such as what types of responsibilities you will want to take on as a landlord and the types of tenants you hope to attract. We offer property management services in Bellevue, Kirkland, Redmond, and surrounding areas and can confirm an interest by renters in furnished housing. Let’s first get a better understanding of whether you should consider furnishing your rental property. As a leading property management company on Seattle’s Eastside, we can provide you with insight and help you weigh some of the pros and cons. One pro of providing furnished rentals is that many property managers on the Eastside have found that rentals that provide furnishings have some nice advantages when compared with other properties for rent in Bellevue, Kirkland, Redmond, and surrounding areas. One of the biggest advantages is that you will likely be able to charge more when providing a furnished rental. This is because it makes things a lot easier for the tenant. They will simply not have to face the drudgery and expense associated with moving their own furnishings. This is less hassle for renters, and many Eastside property managers have found that tenants are willing to pay more for this benefit.
Of course, this will often depend on the types of tenants that you are trying to attract. Students and those who are traveling for business for a few months are more likely to look for fully furnished units. It is important to research the types of tenants that are most likely coming to your area to determine whether having a fully furnished unit is worth your time and money or not. Another one of the potential benefits is that you may be able to receive some tax deductions and tax breaks from the furnishings you provide for your real estate. Since the furnishings are products that are considered necessary for the business, they will generally be deductible as business costs. This can also make your rental returns more profitable. Companies providing property management services in Bellevue and surrounding areas have also found that by having furniture already in the house or condo makes it easier to show to potential renters. There is no need to stage a property for photos or showings since the furniture will already be there. This makes it easier for you to control the image that you are trying to promote for your rental unit. Those who work as property managers also know that furniture being moved into and out of a unit can also often cause damage to the rental property floors and walls. By already having the furnishings in place, it simply means there to be a potential to reduce maintenance needs for the property. There will not be scraped flooring, scratches, and scrapes along the walls or damaged doorways caused by moving furniture.
The cons of providing furnished rentals of course, even though there are some great benefits to providing furnishings for your rental property, there are some potential drawbacks, as well. Providing furnishings can sometimes be more trouble than it is worth. First, there is the initial cost of buying the furniture, as well as the cost to insure in case a piece of furniture is broken. Depending on the size of the rental property, the cost to fully furnish can be substantial. There is also the cost of maintaining the furniture over the years. Eventually, you or the property management company will need to replace some furnishings. And, more often than not, opting for low-quality, cheap furniture, will also mean needing to replace the furnishings more often. Even if the tenants are very careful, there will be wear and tear over time. When you or your property manager inspects the property, you or they will also need to look for any issues with the furniture that could indicate it is time to be replaced. Providing a furnished house or condo for rent does tend to limit the types of tenants you will find. Companies offering property management services in Bellevue, Kirkland, Redmond, and surrounding areas have found that having furnished properties for rent will limit the types of tenants you will find. Tenants interested in furnished rentals will generally be those seeking short-term leases of a few months rather than a full year, for example. They may be people who are visiting the area for work, or they could be students, as mentioned earlier. Most people who are looking for long-term rentals will have their own furniture or will want to buy their own. What’s Right for You? Take the time to think about the types of tenants you will be targeting. If you want to find more short-term renters for your properties, then you will find that having furnished units are a great option. Those who are looking for long-term renters will likely want to skip providing the furnishings. However, if you aren’t sure of the types of renters that you want to attract, let one of our experienced SJA property managers help you determine the best course of action. SJA Property Management has years of experience in Eastside property management including Bellevue, Kirkland, Redmond, and the surrounding areas. Whether you decide to offer your rental fully furnished or not, you will want to make sure that you work with the best property management company that the Eastside has to offer.
The discussion herein is of a general nature only and is not to be construed as specific legal advice, which requires the establishment of an attorney-client relationship and fee agreement. SJA Property Management does not provide legal services.