Buy to Let - All or Nothing - Furnished or Unfurnished?

Should I furnish my Buy to Let property, or leave it unfurnished?

This a question we are regularly asked by our Buy to Let investors clients, and unfortunately it comes with no 'one size fits all' answer. There are various pros and cons in the furnished or unfurnished debate.

Furnishings come at some initial cost, the expense of which may not always be reflected in an immediate rental premium. The provision of furnishings, much like the minimum standard of curtains and white goods, carries a repair and replacement liability for the Landlord, although there are tax allowances available for repairs and the replacement of some domestic items. 

An unfurnished property left in the hands of the wrong tenant can present terribly. We've seen bedrooms furnished with just a bare mattress, and garden furniture used for indoor dining. All fine for a time but when the next prospective tenants come to view a poorly presenting Buy to Let investment can slow the process of re - letting, and expose the Landlord to the risk of an expensive rental void period. 

Also, taking an average tenancy length of 18 months across an average ownership period of 15 years that's 10 sets of tenants moving furniture in and out which amounts to a fair level of wear and tear, most of which could be avoided by furnishing. Furnishing or 'styling' a Buy to Let investment well creates a better sense of lifestyle for viewing tenants, particularly useful when attempting to achieve a premium rental, and where internal space is tight.  

The overruling factor must be to meet the majority demand from the local target tenant audience. This can vary from area to area, and from property to property. Tenants often have a hotel room mentality and the right property wrongly equipped can be enough to deter them from applying. Of course it is impossible to please everyone but we recommend taking time to know and understand your target tenant audience, and that way ensure the property is suitably equipped to appeal to the maximum possible market share. 

OXON Property Search have an intricate knowledge and understanding of local rental trends. We guide and advise our Buy to Let clients to guarantee that all newly acquired investment properties are perfectly equipped to achieve the above. For more information on our Buy to Let services please don't hesitate to contact us.