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Should I let my property furnished or unfurnished?

February 25, 2012 by

It’s a question that landlords face every day, and before you make up your mind – you’ll want to take into account your target tenants. After all there’s no point in doing a flat up like a family residence if it’s most likely to be rented by a bachelor is there?

• If you go this route you’ll need to make sure your landlord insurance covers the furniture too
• Can offer access to the corporate letting market (companies pay more) but the furniture will need to be in excellent condition
• Opens up a broad market appeal (students, benefits holders, young professionals)
• You get a tax deduction for wear and tear
• Leaves you open to potential damage costs or even replacement costs
• Can cause arguments over what is and isn’t “reasonable wear and tear” with tenants
• Too much furniture can deter prospective tenants

• Obviously leads to cheaper landlord insurance because you don’t need to cover furniture in the policy
• Tenants may stay for longer because they face removal charges when they leave and it makes moving much more hard work
• You don’t need to worry about replacing the furniture in the house or repairing it if it’s damaged
• You lose out on the tax break for “wear and tear” on existing furniture – which may be valuable if there is furniture already in place
• You won’t normally be able to rent to corporates and that can cost you money
• It can be harder to win over tenants who are torn between renting a furnished or unfurnished place – the interiors look colder and less inviting without furniture
• If your current tenants are moving out and their furniture tastes aren’t particularly appealing then it can put off future tenants that you show round your property during the notice period

Don’t forget that even unfurnished properties often need a minimum number of white goods to make them attractive to tenants; including ovens/stoves, refrigerators, freezers, washing machines, tumble dryers etc. so you’ll need to take these items into account when you take out landlord insurance to make sure you’re fully protected against loss or damage.

Landlord insurance for all categories of property is available at Landlordbuddy


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