What is a furnished condo?
There are a couple of different types of furnished rentals. A standard furnished rental will come with all the basic furniture that a tenant would need to live in the property. This will include things like a couch, a bed, and kitchen appliances.
A turnkey rental or a fully furnished rental will provide items such as towels, blankets, silverware and there will usually be decor items too.
A semi-furnished rental is flexible on what it provides, usually similar to a furnished rental, but will usually provide only the basics of what is needed to live in the space.
What are the pros of renting your condo furnished?
There are multiple reasons why renting your condo furnished is a great idea.
- Landlords are able to charge higher rent for furnished rentals. Typically you can charge up to 20% more if your space is furnished. For short-term rentals, it can be as much as 50% more.
- Furnished rentals are easier to place tenants in quickly. Tenants are able to move in quickly. They are also able to save money on furnishings.
- You can also deduct a percentage of the cost of goods for tax purposes.
So, you have decided to rent your property furnished. What’s next? There is no ‘right’ way to furnish your apartment, but we have put together some tips from our experience.
First, you need to decide your pricing, who the apartment is aimed at and what level of luxury your furnishings require. We are able to advise on this, with some buildings it will be expected that they have a higher quality of furnishings, others will be suited to a more standard set up.
What do I need to provide in a furnished property?
‘Furnished’ Apartments
Living Room
- Sofa, armchair
- TV
- TV Table
- Coffee Table (if appropriate for the space)
- WiFi box
- Corded phone line
Kitchen
- Fridge
- Stove
- Microwave
- Kettle, toaster
- Basic pans, utensils
- Crockery and silverware
- Trash Can
Bathroom/Laundry
- Basic cleaning equipment
- Mop/broom/vacuum
- Washer and dryer, if not in the building
Bedroom
- Bed Frame
- Mattress
- Side tables
- Hangers
- Clothes storage
- Mirror
Others
- Table and chairs
- Rugs/ Decor
- Curtains and blinds
- Soft furnishings: cushions for the sofa, bathroom mats
High-end furnishings
Aiming at the luxury rental crowd? Speak to us. We can provide more insight into what you may need to elevate your rental. Luxury Condos may provide things like:
- Towels and bedding
- Modern decor
- Mod-cons such as coffee machines, blender
- High-end crockery
Legal obligations to know about
Talk to us about rental property insurance too, renting furnished will mean that you should look into contents insurance. By working with Renting Vancouver, we will deal with all the paperwork, providing contracts and itemised contents lists. We will also take care of pre and post rental inspections.
Interested in renting out your property? Reach out to us. With over 33+ years of combined experience in the industry, we will price, market and place a tenant in your property quickly and efficiently.
With our corporate client list, we will be able to quickly place tenants. We have tech firms, production companies, law firms and more, that are looking to place their employees in quality accommodation.
CONTACT US TODAY!
(604) 818-5308 / (604) 562-4101