When investing in a buy-to-let property, it’s important to consider what potential tenants will expect from their new home. Tenants who will not be settling down, such as students or freelance professionals, will be prepared to pay extra for a property that is furnished, and may even come to expect it.
So, what furnishings are essential? The basics include beds and bedside tables for the bedrooms, with sofas and a coffee or dining table for the living room. Many furnished properties also provide white goods for the kitchen – from large appliances such as fridge-freezers and ovens – to toasters and kettles. These smaller amenities are not essential, as many students or professionals buy their own, but they do make the property appear more put together and therefore more appealing. Storage also increases the appeal of a rental property. Wardrobes and drawers in the bedrooms are always popular, and if you’re planning to rent to students, remember that they will require storage for their university supplies. Perhaps consider shelves or a small bookcase.
When selling a domestic property, estate agents often recommend you don’t hide away your style, as potential buyers like to see the house’s potential as a home. However when renting out a property, things are different. We recommend warm yet neutral colours such as magnolia or pale yellows on the walls and carpets, and browns and blacks when it comes to furniture. A simple, unpatterned, leather couch is unlikely to offend anyone or clash with their belongings. Plus, leather is easier to clean than fabric.
And quality? It’s all about striking the balance between spending too much and not enough. Furniture will need replacing every few years, so it’s important not to go overboard or you may end up losing money. However, too cheap and it will need replacing too often, costing you more in the long run. Furniture sets are a great way of saving money, and also make the property look more put together.
Mistoria Furnishing provides a total furnishings solution in readying investment properties for the student and professional rental market. To learn more, visit https://www.mistoria.co.uk/furnish or see the full Mistoria Furnishing range at mistoriafurnishing.co.uk. For more information, give us a call on 0800 500 3015 or use our contact form.