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The Complete Landlord’s Guide to Furnishing a Property (Pt.2)

Written by Posted On Wednesday, 23 August 2017 02:22
a living room couch a living room couch pixabay.com

To continue the topic from last week where I only mentioned the first steps to deciding what your target tenants are. This is what you do when you have made up your mind already.

Here are your options:

Option #1: A furnished property. Especially if you want to sublet to students or people in town for business, with a duration of the tenancy less than a year. In this case, there are still some decisions to make before furnishing it. For example, if you have a two bedroom property and decide to sublet it to students and people for shorter periods of time, you might want to put one or two single beds in each bedroom. Students will also need desks to study at.

Option #2: Unfurnished property. This option is less engaging. If you want to sublet to a young couple or a family, leaving your property unfurnished will give them the opportunity to make it completely their own and stay there for more than a year.

Option #3: Keep in mind that if you cannot make up your mind whether to furnish it or not, you can offer it as an unfurnished property. You just need to specify that you can provide the furnishing, or if not all of it, at least mention what.

Option #4: Partly furnished. You can get half or most of the furnishing and appliances and leave the rest to the tenants. This is also a widely spread tactic that many tenants find convenient. Some of them already have some of the appliances or pieces of furniture and will be able to make the space theirs.

How to furnish a buy-to-let property
Choosing to furnish your property is definitely a serious investment and should not be taken lightly. For example, when you go on a shopping spree for furniture, make sure that they are fire-resistant and have labels.

Here are all things that you need to keep in mind when you begin the process of furnishing your buy-to-let property.

1.Keep costs to a minimum by skipping unnecessary furnishing and only buying the basic ones for starters.

For example: do not invest in carpets - they are expensive and they are hard to maintain clean. If your tenants do not care for carpets, they might end up destroying them involuntarily and your money will be spent for nothing.

Example 2: Better invest in affordable ready to assemble furniture. They are great for spending less money and still furnishing your property with proper furniture. Plus, bear in mind that some people are not very careful and might damage the furnishing, you might as well not invest more than the necessary.

2. Definitely invest in extractor fans in the bathrooms and toilets, and a cooker hood in the kitchen. They help prevent mould from appearing on your property and creating an even bigger problem.
Damp conditions can be the cause of mould growth in any room and on any surface. You should also warn your tenants to try and maintain the condition of the property.

3. Do not get personal when furnishing and decorating your property. Think practically and don’t think about your personal wishes and preferences.

Example: avoid using wallpapers, use tiles wherever it’s possible. They are easier to clean, more resistant and durable. Do not splurge on buying things such as a dryer or a dishwasher. If a tenant asks about such extras, talk about a change in the rent.
You can also invest in a mould-resistant paint.

4. Colours should be light or neutral. They are a safe option because they appeal to the majority of people. Bold colours might drive people away from your property. Also, choosing white appliances seems to have a role in attracting tenants as well. White appliances seem clean and everyone wants to live in a clean house.

5. Kitchens are some of the most expensive rooms to furnish. But there is a way to save money on it as well. Buying or reusing old kitchen cabinets will work, you will only need to improve them a bit.


Example: sanding, repainting and waxing old wooden kitchen cabinets can make them look brand new. Plus, will not cost you too much money. And not just the kitchen cabinets, you can do the same procedures on other old pieces of furniture and use them.

 

To sum up, furnishing a property is a choice that every landlord should make. It is a rather huge investment and with it come more responsibilities. Sit down and do some calculations. Think about what is better for your property.

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Iris Wingfield

https://flatpackmates.co.uk/blog/

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