Properly Managing Furnished Rentals | Real Estate Communities

In the real estate market, there is a growing trend toward landlords offering furnished rentals. As more people are moving across the country for jobs, there are a lot of professionals who don?t like the idea of having to move furnishings with them every time they go somewhere. To fill this need, many landlords are offering their rentals with everything that one would need to live when they move in.

If you are a real estate professional, offering furnished rentals can be a good way to attract a certain type of clientele, but pulling it off can be tricky. Here are a few tips on managing furnished rental properties:

Don?t Overdo It

When you are thinking about offering a furnished rental, there is a tendency to want to completely fill the space with all kinds of furnishings. When you are going to offer a furnished rental, it is important to make sure that you do not put too much furniture in the space. A good suggestion to remember is to fill the house with all the basics like new blinds, couches, and tables, but try not to fill it up so much that your tenants can?t add their personal style to it. If you overdo it, your potential renters could be turned off by how the property looks. When you get too much stuff in a rental, it can make it look a lot smaller than it actually is.

Use a Storage Unit

If you manage several furnished rentals, it can be difficult to keep track of all of the different pieces of furniture that you own. In some cases, you will not be able to keep all of the furniture in the actual properties. If someone doesn?t want one of the couches or chairs that you offer, you?ll need a place to put it. In this situation, it can come in very handy to have a storage unit to use. Getting a New York, St. Louis, or?Phoenix self storage?unit?can give you an inexpensive place to keep your extra stuff.

Get the Deposit Right

When you are the landlord, it is up to you to come up with the terms and conditions of the lease. Many landlords make the mistake of not charging enough for the deposit on a furnished rental. If you want to be able to make money on this type of rental, you have to charge enough in the form of a deposit to make sure that your renters do not destroy your furniture.

Furnished rentals can help you get higher-end renters who are more likely to take care of your property. Just make sure that you plan out all of the possible contingencies before getting involved in this type of business.

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