How to Handle Furnished Rentals
Every once in a while I’m approached by homeowners that want to rent their property out furnished! If you are one of those, here are some things to keep in mind.
- Know the market – It’s important that you have a real estate professional send you market data to ensure that you’re priced right. Overpricing may cause the property to sit vacant for longer.
- Be patient – Furnished rentals (depending on the area) may take longer to lease. If you want a minimum of 6-months it may be a little challenging to rent it quickly so be patient! If you are in a big city or near a downtown area location is key for furnished rentals.
- Take Inventory – With the furnished rentals that we manage, we usually put together a photo inventory of everything that’s in the property. It allows us to keep track of all items left there. Plus when someone moves out, the cleaners know where everything should be placed and will let us know if anything is missing.
- Airbnb – Depending on the area where you property is located and if you are local to that area; Airbnb may be a good option! You’ll have higher turnover (potentially) but you’ll get top dollar and some added exposure!
If you are interested in renting a furnished property feel free to contact us to learn how we can help you!