Furnished vs. unfurnished buy-to-lets in Tavern Quay

It’s not a difficult decision to invest in a waterside apartment at Tavern Quay – given the demand for properties to rent in Rotherhithe and the long-term appreciation prospects at the development. What is more tricky is deciding whether to rent out a buy-to-let at Tavern Quay on a furnished or unfurnished basis.

 

Open plan and brightly lit with floor to ceiling windows, Kardean flooring in wood tones and subtle lighting, this spacious waterside flat for sale is an ideal buy-to-let. Excellent transport options nearby include the Thames Clippers.

 

Over the lifespan at Tavern Quay and at Vision’s other developments, our sales and marketing team have worked with a number of successful landlords and we’ve picked up some great rental advice along the way. Using our combined professional advice, here’s the case for and against renting out a property furnished or unfurnished.

 

Unfurnished

 

  • Tenants who already own furniture will prefer an unfurnished property.
  • Your taste in furniture as a landlord might not be that of a tenant, and may put them off renting your property.
  • There’s no hassle replacing furniture if it’s broken, damaged or worn out.
  • You don’t have to worry about insuring any furniture – fewer items to insure means a smaller premium.
  • Families often prefer unfurnished properties as they may have accumulated their own items.
  • An unfurnished property is a cheaper way to start a buy-to-let.
  • You don’t have to worry about storage or removal costs if you decide to sell the buy-to-let.

 

Furnished

 

  • You might be able to attract a wider cross-section of tenants with a furnished let.
  • You may achieve a higher monthly rent on a furnished property.
  • Furnished properties suit corporate tenants, those moving from overseas and students.
  • Your property will look more homely when it’s photographed and marketed with furniture in situ.
  • You’ll own the furniture at the end of the tenancy – although it’s a small asset, it may help relet the property.
  • There may be some tax offsetting advantages to offering a furnished property.

 

The ‘somewhere in the middle’

 

Many landlords follow a ‘part furnished’ path, supplying some large items of furniture to get a tenant up-and-running.

 

Things to remember

 

  • If you are supplying electrical goods and/or appliances, carry out portable appliance testing frequently.
  • Furniture must conform to the legal fire resistant standards.
  • If renting out a furnished property, be prepared for it to show signs of damage and wear.
  • Your inventory must include the state of furniture and other supplied items.

 

If you’re a property investor looking to make a buy-to-let purchase in Rotherhithe, contact us today to book a viewing to one of the few remaining waterside flats at Tavern Quay.