During our day-to-day, we meet and talk with property owners. During those meetings, we occasionally are asked about whether an owner should leave the house furnished. These questions typically come from homeowners who have lived in their property for some time and are planning on turning it into an investment property. When properly appointed and correctly priced, furnished rentals are very attractive in the Northern Colorado rental market. However, there are a few things that owners need to understand when considering a furnished rental.
Prospective tenants who are looking for furnished rentals are not looking to stay for a long time. Many of the inquiries we receive on these units are those that are looking to bridge a gap from one place to another. For example, a family coming to Fort Collins, CO on job relocation may be interested in a furnished housing solution until they can find a more permanent housing situation. In cases such as this, these tenants are not looking to stay for a long time.
Another thing to consider is, most prospective tenants assume that furnished rentals mean paid utilities. Tenants who are shopping for furnished rentals are looking for a better and more inexpensive situation than a hotel. With that said, most assume that electricity, gas, TV, and trash are all covered by the monthly rent amount. So, when considering a furnished rental, make sure you are considering the average, monthly cost of all utilities. If it is a single-family home, this means lawn care as well.
Lastly, furnished rentals require more frequent cleaning. Due to the fact that the lease terms on furnished rentals are typically shorter than that of an unfurnished rental, more turnovers happen during the course of a year. As a result, more frequent cleaning of the property will be needed. When preparing for your next tenant, sheets will need to be cleaned, beds will need to be made, and dishes will need to be cleaned.
There are many other things to consider when deciding whether to leave the furniture or not. Please contact Real Property Management of the Rockies at 970-658-0410 if you have any further questions.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
