If you’re trying to find the right tenant for your rental apartment, you may be wondering whether to offer it furnished or not. Furnished and unfurnished apartments tend to appeal to different types of tenants, so it’s a good idea to consider whether you want short-term or longer-term occupants. If you’re leaning towards furnished, here’s a look at some of the pros and cons.
An attractive option for tenants
A furnished apartment is an attractive option for tenants who value convenience or who may be on the lookout for a shorter-term lease, e.g. busy urban professionals, long-stay corporate tenants or business travelers.
May yield higher rental returns
At One on Whiteley, we’ve observed that furnished apartments generally get better rental yields. Furnished units meet specific needs and offer a more complete package, and can therefore be leased out at a higher price.
Shows the space at its best
In the same way that a furnished showhouse highlights the best features of a home, a furnished apartment really sells the lifestyle that a potential tenant can enjoy in the space. A tastefully decorated apartment will always be more visually appealing than an empty one and may help you secure the tenant you’re looking for.
Higher tenant turnover
Because furnished apartments typically appeal to shorter-term tenants, they tend to have a higher tenant turnover – which means you may have to spend a bit more time and energy on finding new tenants than with an unfurnished apartment.
Risk of damage
While you can expect your furnishings to experience normal wear and tear, some tenants may be a bit more careless – so take into account the cost of having to repair or replace some items from time to time.
Décor tip: While you should consider your target market when decorating your apartment, as a general rule opt for furnishings that are modern, neutral, comfortable and durable.
Looking for an excellent investment opportunity?
Developed by the Amdec Group, One on Whiteley is the latest residential development in South Africa’s most exclusive mixed-use precinct – Melrose Arch. If you’re looking to expand your property portfolio, don’t miss the opportunity to own a luxury apartment in the heart of Johannesburg’s northern suburbs.
Keen to view one of our new show apartments? Get in touch with Tersia Taljaard on 063 695 7571 or email firstname.lastname@example.org today.