Real estate laws vary from one state to another, and landlords can choose or refuse to rent out a furnished house. You can rent out nothing but floorboards and bare walls without infringing any local, state, or federal laws. However, a rental property equipped with every possible appliance like a washing machine and dishwasher can reduce vacancies which are not good for business. Before making up your mind on the state you wish to rent out your property, it is advisable to consult a property management expert to ensure you are making the right decision.
Suppose you are wondering whether to rent out a furnished or unfurnished house. In that case, most property management companies recommend critically assessing the market and the needs of the tenants to ensure you get a significant return on investment (ROI). At 3 Options Realty, we believe in considering each scenario before making up your mind since both are pros and cons. Our team of experts has the vast industry experience and expertise to help you make better decisions for yourself and your tenants.
A furnished apartment refers to a rental space equipped with all the necessary furniture to live comfortably. These include things like basic appliances, a couch, and beds, even though it doesn't have to be all simultaneously. This brings us to the three types of furnished apartments: furnished, semi-furnished, and fully furnished. Although these terms have loose definitions, and no defined law stipulates what should and shouldn't be included with each, it is vital for landlords to understand what a furnished house comprises.
Generally, a furnished apartment is equipped with the following: basic kitchen appliances, beds, chairs, a table, a dining room, coffee tables, and a couch. The appliances and furniture provided determine the level of furnishing, and we can help you provide the best experience without breaking the bank. Some property management companies and landlords take it a notch by providing extras like cookware, a toaster, a microwave, and lamp tables. Here are some of the benefits of renting out a furnished house.
The primary goal of every business venture is turning a profit, and renting out a furnished house helps you ask for more rent. A higher rental price helps you cover the cost of the depreciation and furnishings and offset the loss of renting to short-term tenants. Aside from a higher rent, you can also ask for a higher security deposit which provides a cushion if you incur excessive damage to the furnishings.
A furnished rental allows you to reduce your tax bill since furnishings are considered to be depreciable. Something that fits this category must be able to last for more than a year, must be valuable to the venture, and must be prone to loss of value over time. Appliances and furniture fit these criteria, making it a worthwhile investment.
However, furnishing your rental property heightens the risk of property damage and appeals mostly to short-term tenants, which is not good for business. Contact us today at 3 Options Realty for more information and quality property management services.
If you have been rummaging through web results for “property management companies near me,” then you are at the right place. 3 Options Realty’s property managers in Atlanta are experienced and trained to deliver top-tier service. Call 3 Options Realty to speak with a friendly representative today to learn more about our property management & real estate services. We are ready to take your call.
We use professional market research to determine fair-market rent, and we use broad market advertising to reach a large audience. Our agents will also help you prepare your property and skillfully present your property. Prospective tenants will undergo comprehensive interviews and background screening before we negotiate with them the rental agreement using our proprietary, attorney-reviewed forms.