What is Buy to Let Furniture?
19 September 2012
If you are a landlord chances are you have heard of buy to let furniture. But what does it mean? How can it help you as a property owner and landlord? And most importantly, how can it reward you in the long run?
I will cover these questions and more below.
What is buy to let furniture? Buy to let furniture is furniture that is hired out to landlords who rent out their properties. It is a great way to furnish a rental property instantly without any hassle.
How does it work? Landlords source furniture rental companies online and pick out anything from the odd item to full furniture packages to furnish their rental properties.The furniture rental company will then deliver the furniture to your properties fully assembled and ready to use. No fiddly flat pack assembling and awkward separate delivery times. It will also save you time instead of sourcing your own furniture and comparing prices.
Why would a landlord need buy to let furniture? As a Landlord you may want to rent out a furnished property for many different reasons such as: a furnished property spends less time unoccupied, you have short term tenants or are renting to groups of housemates with communal living areas.
A furnished property stands out more in the rental market especially for students, young individuals and couples or new residents from overseas who may not have any furniture of their own and buy to let furniture is a way to furnish your properties hassle free.
What sort of landlords would use buy to let furniture? Landlords who own multiple properties would be more inclined to use buy to let furniture as sourcing their own may prove difficult and time consuming, especially if they have more than a few rental properties to furnish.
What furnishings would a landlord require to furnish a property? You will require furniture to furnish your property, items such as a sofa, beds, wardrobes and a dining room table and chairs are the necessities.
Most tenants prefer to rent properties that have white goods such as a fridge, freezer and a washing machine.
How long can Landlords have the furniture for? Landlords can often rent furniture from a couple of days to up to three years. In three years time if you still require rental furniture you can just update and change the furniture you currently are renting.
How can I guarantee the quality? The quality of the furniture will be good, strong and durable. As furniture rental companies will lose out in the long run if they do not supply good quality products.
How will it reward me in the long run?
Your property will spend less time unoccupied, you can charge more rent for a furnished property and, if it is really fancy you can charge a fortune. These all help you financially but renting furniture will save you time in the long run too and everyone knows time is money. You will not have to worry about a sinking fund to help you out to replace worn out furniture and you will not have to look after furniture assets as many companies offer an asset management service.
Put simply buy to let furniture is a quick and easy way to furnish your rental properties. With so many great furniture hire websites out there you could create the ideal home for your tenants at no hassle to you. It will help you out with time and money in the long run and at the end of the lease when you decide to sell your property you can just give the rental furniture back – no messy reselling.
