“Based on your experience, roughly how much extra could I collect in rent if the property is furnished?”
So, what if my property is furnished?
Feature agent: Madeleine Smith, New Client Relations Manager at Raine & Horne Terrigal – Avoca Beach.
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Michael, we asked Raine & Horne Terrigal – Avoca Beach New Client Relations Manager, Madeleine Smith for her insight into this question:
Madeleine said that while her office does not do furnished properties, it’s worth consider other factors.
“There is more to consider apart from the additional rent that may be gained such as additional wear and tear, the increased turnover of tenants or shorter term leases,” she said.
Offering a furnished rental property to tenants can demand higher rental yields, but this can be offset by high tenant turnover. So is there more to a successful ‘rent-vestment’ than the included yellow futon? Here, we look at whether furnished properties are a good option for property owners.
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