Must-Haves For Furnishing a Rental Property

This guest post was provided by Sapphire Gray from SavvyWomen.

When it comes to investing in property there are countless associated costs, from legal expenses and Stamp Duty fees to any property renovations that might be needed. While these responsibilities are fundamental parts of the investment process, many investors choose to save money later down the line by letting the property unfurnished. 

You are in the right place if you’re weighing up the pros and cons of whether to provide furnished or partly furnished options for your prospective tenants.

There are a lot of benefits to letting a fully-furnished property, but one of the most important considerations is the tenant. Tenant demand is one of the most important parts of buy-to-let investing, so finding the right tenant can lead to longer tenancy agreements and less risk of void periods. 

That said, furnishing a buy-to-let can be expensive and if your property falls into the wrong hands, there can be issues later down the line. To help investors, Sapphire from SavvyWomen has discussed the ‘must-haves’ for furnishing a rental property, and offers some tips and tricks for making the most of your investment. 

Do you know the difference between fully furnished and partly furnished?

Whether a property is fully-furnished, partly-furnished or unfurnished has a huge impact on the tenant you attract and how much the property stands out in a crowded market.

Furnished

Typically, a fully-furnished property will have all essential appliances and white goods (fridge/freezer, washing machine and oven), as well as furniture. If you choose the fully-furnished option, it’s best to think about what a tenant would need to move in straight away.

Part-Furnished

Part-furnished properties are a happy-medium between fully-furnished and unfurnished properties. This option usually only includes the essentials, such as curtains, white goods and kitchen cabinets. Beyond this, the extent of the furnishings depends heavily on the landlord. 

Unfurnished

An unfurnished property will come with only the very necessities – carpets, light fittings, and essential appliances, such as an oven.

Related: Top Tips for Decorating a Buy-to-Let Property

What to include in a furnished rental property?

When providing tenants with a furnished home, there are certain items they will expect to be included.

What to include:

A furnished property should include.

•       White goods (oven, hob, washing machine, fridge freezer etc.)
•       Dining table and chairs x 4
•       Beds – if you have a double room then double bed should be included
•       Sofas and chairs – 3 seater and 2 x armchairs
•       Wardrobes, chest of drawers and cupboards
•       Light fittings
•       Heavy curtains and blinds or net curtains
•       Carpets – Stairs and bedrooms, wood flooring or tiles other areas.

What not to include:

However, there are a few items landlords are not expected to provide.

•       Bed linen, duvets, and pillows
•       Cleaning supplies
•       Utensils
•       Pots and pans

Top tips for choosing furniture for your rental property

To make things easier for yourself, we have some tips and advice on how to furnish your rental property.

Choose furniture that’s easy to clean

Encouraging tenants to keep your buy-to-let and its appliances clean will usually help with the general maintenance of the property. As you know, wear and tear is inevitable, but managing the furniture you put in there is a good place to start. 

Keep the decorations simple

As a landlord, it’s generally best practice to avoid putting garish colours on your walls and to stick to standard furniture. Instead, allow your tenants to put their own personal taste in the property so they feel like it’s their home. Choose neutral colours for paint and furniture so it’s more appealing to tenants and easier to maintain. 

Related: What Do UK Tenants Really Look For in a Rental Property?

Choose easy to replace items

When choosing furniture for your rental property, it’s often best to keep it simple and opt for things that are easy to replace. This means if things get damaged or broken, they’re easy to replace without too much fuss – or cost.

Replace furnishings as needed

The Tenancy Deposit Scheme recommends that after seven years you should replace your old furniture to maintain the quality of your investment and to keep it fresh. Be aware that accidents will happen and if you have stained carpet or damaged flooring you should replace this sooner to avoid deterring any current or incoming tenants in the property. 

Safety regulations

When you become a landlord, you’re responsible for the safety of your tenants, therefore following the simple fire safety laws when it comes to soft furnishings will save you in the long run.

Choosing the right furniture for each room 

You may not know what type of furniture goes into each room, so let’s take a closer look at what type of furniture is usually provided in a furnished rental property.

Living Room

Basics include:

•       Sofa(s) or armchairs
•       Coffee table
•       Bookcase
•       Carpet
•       Lights

Kitchen/dining room

Basics include:

•       Kitchen cabinets
•       Essential appliances (oven, washing machine, fridge freezer, toaster, kettle etc.)
•       Table and chairs

A dining table is the hub of any home and getting the right one is important.

Bedroom

Basics include:

•       Bed
•       Mattress
•       Wardrobe
•       Chest of drawers
•       Bedside table
•       Carpet
•       Lighting

Having a good mattress in your rental property is probably one of the most important pieces of furniture you could buy. A mattress is perhaps the most important piece of furniture for your rental property. 

Related: Top 10 Features of Profitable Rental Properties

Care for your furnished rental property: inventory administration 

Furnishing your property is one thing, but maintaining its quality is another. How should you go about this?

The most manageable way is to invest in a comprehensive inventory report by unbiased professionals. This report will not only help to safeguard your property and all its contents, it will also itemise the condition of everything – external and internal – at the start and end of tenancies. 

These ideas are a great way to maintain your property portfolio and keep it up to date. You can find more tips and strategies like this in the Savvy Women Investor Academy – where you’ll find expert opinions and exclusive industry practices to build a thriving property empire. 

About SavvyWomen

Savvy Women Group  is all about empowering the modern woman, who juggles work, life and family. We know that for many women, you have worked hard and diligently for many years, but you may still have neglected to contribute to your pension fund or maybe don’t yet have a solid plan of what you’ll do when hanging up your work boots.

Creating a financial plan is a necessary step towards the freedom you are looking for in your life. For many, this financial plan includes an asset such as property. Why not consider it as the wealthy do? 

You can download the FREE Complete Beginner’s Guide to Property Investing here or book a FREE-45-minute business consultancy call with SavvyWomen and kickstart your journey to success. 

This guest post was provided by SavvyWomen. The opinions expressed by the guest writer above and those providing comments are theirs alone, and do not necessarily reflect the opinions of Joseph Mews or any employee thereof. Joseph Mews is not responsible for the accuracy of any of the information supplied by the guest writer.