In looking for a rental, prospective tenants are bombarded with not just a lot of listings, but also with the things that come with a particular rental to make it all the more inviting such as a parking slot, free water, inclusive of association dues, free use of condo amenities, and furnishing. Landlords think about the improvements and the special things they can offer to their future tenants, and furnishing their units is something they frequently consider.
There’s a lot of options out there, and whether you are a tenant or a landlord, one of the questions you must answer is: What is the difference between unfurnished, semi furnished, and fully furnished? A furnished condo has flooring, painted walls, fitted kitchen sink and cabinets, and bathroom fixtures. There’s not a single piece of furniture or appliance whatsoever. The tricky part is knowing what the difference is between fully-furnished and semi-furnished? When dealing with a semi-furnished apartment, you’d be dealing with loosely anything between unfurnished and fully-furnished, and therefore tenants are encouraged to schedule a visit to the actual unit to see exactly what a condo is furnished with. Typically, semi-furnished units come with the bare essentials: air-conditioning, stove or oven, dining set, sofa, TV, bed, and closet. Note, however, that some landlords can customize and add more when closing the contract. A fully-furnished apartment checklist would be a little bit more extensive because the idea is that it would have everything that tenants would need to live comfortably, and all they need to bring other than themselves is their clothes and other personal stuff.
For landlords who are getting ready to rent out their condos, here’s a guide at furnishing your unit just enough for your tenants. What do they really need? What do you need to invest in? How much is too much, and how can you furnish and still give your tenants enough space to decorate and design their own space?
Decision time: To furnish or not furnish
Before even deciding what to put in, you need to know why you’re even considering furnishing a condo or apartment. The type of properties that are perfect to be fully furnished are those that you are likely to offer for short-term rentals such as transient homes or Airbnb. Potential tenants for fully-furnished condos are typically those who are not likely to bring anything with them but a bag full of clothes, much like tourists, business travelers or students attending a week-long training or reviewing for board exams. On the other hand, tenants who intend to sign a long-term lease would be bringing their own stuff at some point, and a fully-furnished apartment would strip him off of control over the property.
Another reason for furnishing a property is when it is difficult to access, such as those that are up a flight of stairs. And finally, if you are targeting students, immigrants, and business travelers as your tenants, then fully furnished is the way to go. Otherwise, unfurnished or semi furnished should be more of your option.
Decision time: To furnish or not furnish
Before even deciding what to put in, you need to know why you’re even considering furnishing a condo or apartment. The type of properties that are perfect to be fully furnished are those that you are likely to offer for short-term rentals such as transient homes or Airbnb. Potential tenants for fully-furnished condos are typically those who are not likely to bring anything with them but a bag full of clothes, much like tourists, business travelers or students attending a week-long training or reviewing for board exams. On the other hand, tenants who intend to sign a long-term lease would be bringing their own stuff at some point, and a fully-furnished apartment would strip him off of control over the property.
Another reason for furnishing a property is when it is difficult to access, such as those that are up a flight of stairs. And finally, if you are targeting students, immigrants, and business travelers as your tenants, then fully furnished is the way to go. Otherwise, unfurnished or semi furnished should be more of your option.
The cost and the investment: Is it worth it?
There’s plenty of value in a furnished condo. Upfront, the rental fee is naturally higher. But before you focus on how much you can potentially earn, you must first factor in the cost and the investment.
Appliances are a sizeable investment. The requirements for a semi-furnished and a fully-furnished condo are different, but either would cost you a significant amount of money. Factor in wear and tear, and the cost of repair and maintenance. When you are adding appliances to the listing, make sure you keep the warranties. It must also be clear in the contract that damages caused by the tenant should be shouldered by the tenant.
Appliances and furniture to include
The meaning of a partially-furnished condo is having the basic appliances that regular tenants will find useful. This normally includes an air-conditioning installed, medium-sized refrigerator, washing machine and dryer, microwave, stove, range hood, and TV. But, what does a fully-furnished condo include? The short answer to that is it will be requiring more than just the basic appliances. Throw in a shower heater, stand fan or ceiling fan, DVD player, coffee maker, etc.
In terms of furniture, a dining set with 2 to 4 chairs, a sofa, and bed frame with mattress should be okay for semi-furnished rentals. But if you are going for a fully-furnished condo, there should be kitchenware, dining utensils, bed sheets, pillows, shower curtain, and minimal decoration.
Give the tenant some control
There is no one-size-fits-all when it comes to a rental, because tenants are naturally different, and they have different needs. Landlords furnishing their condos for rent must leave some control with the tenant.
Go easy with the paint colors and avoid heavy rooms. While there are ways to make neon and pastel colors work, it is best to stay on the neutral corner. Beige, gray, and earth tones would give tenants a blank canvas to execute their creative ideas. Minimize decorations, especially personal ones. You could have a singular painting or art work, but leave the personal touches with your tenant. Add more storage to give your tenant more space that he or she can work with.
The beauty of minimalist designs
Having discussed giving some control to the tenant, it is best for landlords to practice minimalism when furnishing a condo. There’s no need to overdo your appliances or furniture pieces, or you will risk having a cluttered and overpriced condo rental. The good thing with minimalist designs is that they are easier to maintain, their appeal is universal, they make the space look and feel so much bigger, and they stand the test of time.
Furnishing a condo sure adds value to it, but upfront and upkeep costs must also be factored in. Landlords must be very wise in what they put in, because not everything adds value to your unit, and not everything will be useful to your tenant. Carefully consider your many options.
