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How much extra rent does furniture add to a property when considering the cost of the furniture. My place is furnished but the actual cost of the beds, couches, TV's, kitchenware, etc might only be about $10,000. So if a house would rent for 6K per month, how much extra rent would you expect to tack on? $250? $500? More?
How much extra rent does furniture add to a property when considering the cost of the furniture. My place is furnished but the actual cost of the beds, couches, TV's, kitchenware, etc might only be about $10,000. So if a house would rent for 6K per month, how much extra rent would you expect to tack on? $250? $500? More?
If your property is in an area where relocation firms often need to house transferees it may make sense to create a listing that says something like "Executive home available. Near XXX campus and easy access to all amenities. Base rent: $6k/mo. Also available furnished / equipped. All inquiries through unit7@executiverentals.net"
If your home is available furnished and the furnishings are "executive quality" that might be worth a premium of $1500/mo or even more if it includes things like nice flat panel TVs and furnishing for an outdoor entertaining area. You better have photos that make the place look like a magazine lay out and be sure that that stuff like the bedding looks like something from a spa /hotel, not stuff from Goodwill...
OTOH there are folks paying $6k/mo who probably have their own furniture and do not want to store it, they won't ask for your furnishing and you get to store / sell the stuff.
When you are renting out a place for over $70,000/ yr you sorta expect a different level of accommodation than somebody just getting by...
Often having furniture in the house is a detriment to leasing it out. I agree with Chet Everett, in that price range, the furniture would need to be spectacular, otherwise you will be forced to lease the house for much less than market rate due to the furniture quality not matching the house.
If I'm renting a house for $6000/month, it better have nicer furnishings than $10,000 worth of IKEA/thrift store stuff. I would consider that stuff junk at that price point and a detriment.
You might be surprised how good the stuff from Ikea looks / holds up...
Quote:
Originally Posted by rrah
If I'm renting a house for $6000/month, it better have nicer furnishings than $10,000 worth of IKEA/thrift store stuff. I would consider that stuff junk at that price point and a detriment.
Ikea stuff, in a home that is appropriately staged, can absolutely be worth $1000/mo or more in the right circumstances. Only a pretty small group of consumers can tell the difference from high end modern furnishings and the more value priced stuff.
What I am concerned about is that the OP has not said if the home is staged at all or if the stuff available to stage it with is not the "hip stuff" that might be found at a thrift or is more along the lines of the furnishing that you might find at your Aunt Gladys home...
If your property is in an area where relocation firms often need to house transferees it may make sense to create a listing that says something like "Executive home available. Near XXX campus and easy access to all amenities. Base rent: $6k/mo. Also available furnished / equipped. All inquiries through unit7@executiverentals.net"
If your home is available furnished and the furnishings are "executive quality" that might be worth a premium of $1500/mo or even more if it includes things like nice flat panel TVs and furnishing for an outdoor entertaining area. You better have photos that make the place look like a magazine lay out and be sure that that stuff like the bedding looks like something from a spa /hotel, not stuff from Goodwill...
OTOH there are folks paying $6k/mo who probably have their own furniture and do not want to store it, they won't ask for your furnishing and you get to store / sell the stuff.
When you are renting out a place for over $70,000/ yr you sorta expect a different level of accommodation than somebody just getting by...
Makes sense?
Yes! That helps! 6K a month renters want higher end furniture. I don't think I could get away with $1,500 a month extra!
Some of my furnishings are high end and "pop" out at you, but I don't have all of the garnishings that make it all come together.
I'm only looking to rent for about 8 months to a year, plus maybe a month or two more extra if they need time. Are there many people who wouldn't mind such a limited stay?
On a house that normally rents for 6K for 12 months, how much MORE would you expect it to rent out for just 6 months? 3% more 5% more? 10%? more?
Depends on the quality, condition and age of the furniture and over all decorating/decor. Nasty old junk, poorly decorated will not do anything to endear renters or their money.
If the furnishing is great, there is absolutely a market for short-term "corporate" renters. Here in Atlanta these places can fetch $3500-6500/month and some of them aren't even THAT spectacular.
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Not a simple question...
