Renting a furnished apartment can be a great opportunity for both landlords and tenants, as long as both parties are clear on the implications of owning and living in this type of property.
If You’re a Prospective Tenant
Furnished properties can be a good option if you’ve recently become independent and don’t have the resources to invest in furniture or appliances because they come equipped with everything you might need: a bed, sofa, dining table, refrigerator, and usually, kitchenware like dishes and glasses.
Another advantage is that, since you don’t have to move furniture, the move can be much simpler and shorter than usual.
Plus, you don’t have to worry about replacing furniture when it wears out.
However, you’re not exempt from taking care of them; the security deposit for damage to the property’s items is almost mandatory for furnished properties.
Renting furnished tends to be the best option if you need housing for a medium-term stay.
It’s often an important choice for students who aren’t in the city where they study all the time, foreigners without a fixed city of residence, and temporary workers who only move for a few months.
You should also consider this type of rental if you’ve recently moved to a city and aren’t sure if you’ll stay there permanently; it allows you to have some stability without the commitment of fully settling in a property.
If You’re a Landlord
The main attraction of renting out a furnished property (for most landlords) is the economic factor.
Furnished houses and apartments are undeniably offered at a higher price than unfurnished ones; this varies depending on the amenities the property has.
Consequently, you can recoup your investment a bit faster than expected.
Nevertheless, you should consider furniture and other items in the property as part of the initial investment.
Depending on your location, a furnished property may be even more sought after in the market.
Areas near universities and educational centers, commercial zones, and tourist centers in cities often have a high flow of temporary tenants, so it wouldn’t be difficult to keep the property occupied most of the time.
Furnished rentals are a substantial segment of the real estate market; it’s advisable to consult with an expert before making any major decisions!
