To furnish or not to furnish in Hamilton
Question from Talia updated on 23rd March 2012:
I have a spacious two-bedroom unit in a good location in central Hamilton. It is relatively easy to rent. As I have some spare furniture I am considering renting it fully furnished to increase the rental returns. I've never done this before and wonder whether this increases or decreases its rent ability and what the general pros/cons are?
Our expert Ben Turner responded:
It’s great that you have spare furniture and making use of it. Generally you will be able to rent a furnished place at a higher rent as there is added value - provided your furniture is well presented and stylish. If the furniture doesn't look good then it may de-value your rent rate. You will also need to check if a place in Hamilton is more likely to rent with furniture or without. City tenants generally prefer to have apartment's fully-furnished but I’m unsure about the demographics of your area. The cons are mainly around the risk of your furniture being damage. However, if your property is managed by a professional property management company, the bond could cover any potential damage done by tenant (wear and tear not included).
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