What is the difference between renting furnished or unfurnished

Typical rents for short-term housing are higher because the owner needs to offset any costs of increased vacancies created by shorter lease lengths. For short-term stays, under a month that number will increase further. Landlords can also charge more of a deposit for fully furnished apartments. For example, in some states, landlords can only charge a certain maximum deposit for unfurnished, but a higher maximum amount for furnished ones.

This is to protect the landlord in covering the cost of replacing or repairing damaged furniture. If the rental property is in a college town or in a more urban area, chances are there are plenty of potential tenants looking for such a rental and a landlord could benefit from catering to this market.

Furnishing an apartment means that there is more potential for damage, which means a greater financial burden if tenants do not take care of the property and the furnishings inside it. Repair and replacement responsibilities increase with a furnished apartment as landlords must watch out for actual damages and stay ahead of normal wear and tear.

Because furniture eventually wears out, landlords should plan on replacement pieces over time so the rental stays attractive instead of shabby. Another drawback to renting out a furnished property is that tenants often trend toward shorter-term lease agreements. For example, if the landlord agrees and tenants wants to use their own mattresses and bedframe, the landlord is responsible for moving the existing bed and finding storage for it.

Ultimately, choosing to rent out a furnished or unfurnished property really depends on the target market. Since students and young professionals tend to rent furnished properties, while couples and families prefer unfurnished units, each landlord must decide which condition results in plenty of qualified tenants. It is true that rent will be higher but you will also cut out moving costs and the pain of lugging furniture up and down stairs and through hallways.

You make some very good points. Other landlords fully furnish their apartments and include dressers, entertainment centers, china cabinets, buffets, dry sinks and any other furniture you can think of.

Some places even include dishes and bedding. Always check with the landlord so you know exactly what you need to bring and what you don't. Unfurnished apartments often require at least a one-year commitment, which is great when you're looking to put down some roots and hang around a while. If you move often for work or only plan to spend a semester at school, a short-term lease may prove to be a better option.

Landlords know that it's often these frequent movers who desire furnished apartments and are often willing to accommodate a nomadic lifestyle with a shorter lease. In some states, a lease that is under six months and one day will generate a local tax, paid by the landlord but passed on to the tenant in the form of a higher rent. The cool thing about your own furniture is that you'll like it.

You won't buy a couch you hate, but your landlord might. Unfurnished apartments usually come in neutral colors and offer a blank canvas on which to splash your own style. Furnished apartments and homes, though, may feature some wild paint colors and truly dreadful pieces of furniture.

Even if the furniture looks decent, you may not find it very comfortable. You could end up with a lumpy mattress or a saggy couch. Style is subjective and finding the property that coincides with your style may be difficult. When deciding between furnished and unfurnished spaces, think about your comfort level and lifestyle. Some argue that eating dinner in front of the TV is a bad habit, while others do it every night. If you're the latter type of person, will you feel comfortable eating and potentially spilling food on someone else's sofa?

Some people feel more like house guests in a furnished apartment and never really settle in. Michelle has a knack for tackling tough topics and making them simple. She uses her accounting degree and financial savvy to help readers understand real estate markets and mortgage options.

So, to help you understand what is right for your rental, follow along with the pros and cons of furnished vs. Protecting your investment property is vital in any landlord-tenant interaction, especially when you provide extra items such as furniture.

Thankfully, there are ways to minimize the financial risk involved with renting fully furnished units. Check out our tips below —. Deciding to rent furnished vs. However, regardless of what you decide, protecting your investment is key to successfully maintaining a healthy profit margin. In addition to inspections, screening, and lease addendums, professional rental management services can help owners get the most out of their investment.

The expert team of Richmond property managers at Bay Property Management Group can help owners protect their valuable rental interests. With a solid lease agreement, comprehensive tenant screening, and thorough inspections, owners can rest assured that whether furnished or unfurnished, BMG will help you get the most out of your rental investment.

Give us a call today to find out more. Time Rental Is on Market 23 Days. What is a Furnished vs. Unfurnished Apartment? Check out the details below — Fully Furnished Apartments A fully furnished unit has everything a renter would need to live comfortably in each respective room.

Furnished Expectations in Short-Term vs. Long-Term Rentals Fully furnished units are quite common in the short-term rental industry.

Pros and Cons of Furnished vs. Unfurnished Rental Properties With any decision, there come the inevitable pros and cons that each owner must carefully weigh. Top 3 Benefits of a Furnished Rental Property More Security Deposit Funds — When the rental unit includes items from the owner, it costs money to repair or replace these at move out.

Therefore, security deposits in furnished rentals tend to be higher to cover potential loss or damage above normal wear and tear. Increased Rental Rates — The added convenience of a turnkey unit means owners can often charge higher rates for furnished apartments. Furthermore, since this option is more popular in short-term rentals, these shorter leases also contribute to driving up the price. These factors can help owners offset the cost of furnishings.