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If you are a housing investor, choosing the route of furnished or unfurnished housing is a very important decision. You need to choose what will maximize your income and protect the overall investment in your building. This isn’t an easy choice and I’ve made a stand so I’m going to give you my insight into the pros and cons of renting furnished and unfurnished.

Of course, when investing in an apartment building, it is easy and uncomplicated to rent the units unfurnished. For most, this is a good steady income without having to worry about furniture or wear and tear on the items purchased. Some renters want to settle in rental apartments for years and all you need to do is do the occasional maintenance, fix minor plumbing issues, broken windows, and similar items. Some renters prefer shorter rental periods, which means you need to freshen up the apartment with paint and other maintenance work to keep the units looking fresh for the next tenant.

Overall, there is significantly less to consider when renting unfurnished apartments than furnished ones; the lease duration and maintenance are the main considerations. The location of the property, the style and maintenance of your building will determine the type of tenants you will attract. This is an important consideration when deciding whether to rent furnished or unfurnished apartments.

For a short-term tenant, a monthly lease in a furnished apartment is often very attractive. For example, military service workers are usually only stationed for a short time and do not like having to lug furniture from one office to another. Also think of traveling businesspeople and travel nurses who work on short notice. These are perfect renters for furnished apartments and these great tenants cause minimal damage as their companies often rent the apartments for them so they are especially inventive to be gracious tenants.

In some municipalities, you can divide apartments into separate rooms to create common units. Apartments with shared common areas have enormous profit potential. A furnished room is very convenient for renters who travel light or want to maximize their income by sharing their expenses with others. Since many people travel on assignment and have other apartments, work and a safe place to sleep at night are particularly important to them. We do not want to assume that all short-term renters looking for a furnished apartment belong to the hiking types.

Tenants who rent out furnished apartments are usually willing to pay a little more for apartments because, firstly, they get more. Second, most of them already have a full set of furniture elsewhere and just don’t want to move or store their things. As they use your facility, it is their responsibility to look after it and leave a security deposit to cover any damage. Overall, as a landlord, you have a higher tenant class.

The decision to rent furnished or unfurnished apartments has a huge impact on the types of tenants you can attract. If you prefer to attract higher priced tenants looking for shorter leases than furnished rentals, this is the way to go. If you prefer long-term renters who like to nest for a year or more, a clean, well-kept apartment is the right choice. In the end, the decision should be based on what is the most profitable situation for you as an investor.

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Source by Mauri Baxter