Furnishing a Buy to Lett is a careful balance between giving your tenants the right finish and feel, and keeping the cost to a level that works for you and your investment.
The furnishings need to appeal to the type of tenants you want to attract, while being functional and hard-wearing, so what’s the best approach?
Considering longevity
How long furniture lasts depends on how frequently it gets used. Therefore you're likely to need to replace furnishings more often in a House in Multiple Occupation (HMO) than a single let property.
Larger items tend to last several years. To give you an idea of what to expect, sofas and mattresses last around 7 years, wardrobes and kitchen appliances around 10 years, and 10 to 15 years for bed frames.
Smaller units such as bedside tables and dining chairs might need replacing every 5 years if they are not looked after properly.
Sourcing furniture for your rental property
Landlords who own multiple properties tend to go for a standardised look that they can easily implement across their entire portfolio. Flat pack furniture is a popular choice, particularly for Houses in Multiple Occupation landlords, who want unfussy and hard wearing furnishings.
Although flat pack furniture is a fairly cost effective and reliable solution, it does leave you with quite a bit of assembling to do.
Alternatively, there are a number of companies that supply furniture as whole property packages for landlords, suited to a variety of finishes and budgets.
They tend to be flexible in terms of allowing you to exchange items and customise packages and can represent good value for money if you want to save your own time and effort, with quick delivery and assembly.
As these companies have regular stock, if an item is damaged by wear and tear you'll likely be able to replace it with the same piece, or one that is similar.
Increasingly many furniture companies are introducing leasing programs to cut down on the amount of furniture thrown away each year.
The idea is that you lease furniture for your property rather than owning it outright. Some companies offer 'rent to own' where you rent for a set period and own the furniture at the end of the payment period.
This can be a tempting option for landlords could reduce the upfront costs, but beware as over time, and once additional costs are considered, you'll likely be paying more than if you'd just invested in the furniture outright.
Our local lettings experts offer landlord services to make your investment work for you. From tenant find service to full management, find out how we can help you today.
The Reeds Rains Content Marketing Team
