Apartments are the living space of choice for most city dwellers.
They are compact, affordable, very cosy, and are perfect for the fast urban lifestyle
One aspect of apartment living that can be quite difficult, however, is furnishing. With so many restrictions on space as well as budget, our clients often require maximum effect on a minimal budget.
The benefits from furnishing rental properties are many.
Furnishing Narrows Your Target Market
Pre-furnishing your rental property is a great way to target a specific group of tenants as your ideal occupants.
In particular, furnished rental properties appeal to people moving from a significant distance as well as young tenants renting their first apartment.
For these groups, transporting furniture or buying an entire apartment worth of furniture at once may simply be out of the question due to cost.
A slightly higher rental rate per month is often much more manageable.
Furnished Apartments Rent For More
Furnished apartments are in high demand, and the combination of convenience and availability means that these apartments list for more on the market.
While there is obviously an initial financial outlay to furnish these apartments, that amount can be quickly recouped by increasing the rent.
With TAE Projects onboard to assist in selecting the look and feel of your apartments you can be sure that the items selected will hold up to wear and tear and will last for years.
Management can easily make a significant additional profit by furnishing an apartment. Even with the need to occasionally replace certain staple items like tables and chairs, the overall financial picture is beneficial.
Furnishings Can Be Tax Deductible
As an independent business owner, Managers can benefit from certain tax breaks and deductions.
By choosing to furnish your rental property, you are investing in a consumable product necessary to your business, and the purchases can typically be deducted as business costs. Furniture investments can be just the break you need.
Pre-Furnished = Pre-Staged
One of the challenges that comes with advertising apartments for rent stems from the issue of staging.
Staging is the process of setting up a property with furniture and accessories that will make it look appealing.
Often Managers do not have many options when it comes to staging – they either take pictures of whatever the current tenant has put in the apartment or display only images of empty rooms. Neither of these make for great marketing.
When you choose the furnishing, you also control your public image.
Décor Creates A Standardized Identity
As a Manager furnishing an apartment, you have many potential options.
Some Managers may choose generally neutral items – sofas, wood tables, neutral carpeting, and an overall generic look.
Other Managers, however, take advantage of pre-furnishing apartments by offering furniture with thematic features, often reflecting the local culture or current fashions trends.
TAE Projects can guide you through these difficult decisions.
Furnishing Can Reduce Maintenance Needs
It’s remarkable how much damage moving furniture in and out of an apartment can cause to the structure. Whether its chips and dents in the walls, carpet wear and tear, or scraped tiles, moving furniture is a hazard.
This is especially the case when tenants attempt to move large pieces of furniture into a small apartment not built to handle them.
Many clients who pre-furnish apartments find that the property maintenance needs are greatly reduced, and that also means reduced costs for you.