TO FURNISH OR NOT



ORIGINAL POST
Posted by gwern 17 yrs ago
I have just bought a small Mid Levels property that is renovated and ready to move in. I intend to rent it out and wonder, should I furnish it or not? If I do I would like to do it well but I don't want to move the stuff out if the prospective tenant doesn't want it. What are your thoughts on this?

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COMMENTS
spannermonkey 17 yrs ago
Agree with walkup. If anything, it will make it easier to let as it looks homely already. Just dont go mad with furnishing and try to be trendy. You may love it, but you may narrow your market - a common mistake. Keep things simple and dont put pictures on the wall. I reckon you could demand 10-20% more for furnished.

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ldavy 17 yrs ago
I would advise not furnishing it. Just supply fridge, washer/dryer, and cooking facilities. A full oven if there's space, a hob burner and a microwave if there isn't.


Lots of expats are looking for flats in Mid-Levels but the vast majority, in my experience, do NOT want fully furnished because they have their own furniture, or they are planning to buy it. Even if they do want a furnished place, they may not have the same taste as you and therefore not want the furniture you have provided.


To keep your options completely open, how about telling agents (if you're using agents) that it's currently unfurnished but you are willing to supply furniture if the tenant requires it? You could then either buy it yourself, or give the tenant an allowance to buy it.

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wongsg 17 yrs ago
As a landlord, I prefer to furnish the apartment if it is a small one, say to accommodate just for one person. It is quite unlikely that an expat tenant will take the trouble to move his/her bulky furniture over. Unless the tenancy is for 2 years or more, it is also too troublesome for a tenant to buy and later to dispose of the furniture.


I'd rather not let my tenant do the purchase of furniture which may only meet his/her own particular taste and no others. Instead, I would purchase common furniture that may appeal to the majority of tenants. Then some good photos will definitely help marketing the place for rental. In my own experience, I do it online to let potential expat tenants "view" the place even before they actually arrive in HK.


Rental investment is one dealing with a niche market. We won't capture all tenants anyway. We have to restrict to one particular type of tenants who have special accommodation needs, be it location, size, partition ..... It is a matter of how and when to let availability and requirements match. Good luck.

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gwern 17 yrs ago
Thank you for your advise it's really helpful....can you tell me whether or not having furniture in there has stopped people renting? Do you think it's aided the renting? I have been uming and arring for weeks over to buy stuff or not....would hate to buy and then sell off...what do you think attracted tenants? Did you put 'things' out such as bamboo, candles, lamps etc...? I'm new to this game and think I need all the help i can get...

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wongsg 17 yrs ago
A small space looks bigger and cozy if it is suitably furnished and decorated.

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