Top 10 pieces of furniture to put in your investment property
So, you’ve just purchased a brand new property with the aim of renting it out. No matter what location the property may be in, there are some essential pieces of furniture that you should invest in to ensure that your tenants are happy and so that you can easily rent out the property and start to receive your rental returns.
Here are our top 10 items that you should include in your investment:
10 – Tea/coffee making facilities
Imagine if you had just rented out a new place, lugged your boxes upstairs and put the appropriate furniture in the correct room. What would be the next thing on your to-do list? Get the kettle on! Of course you don’t have to kit the property out with the full kitchen utensils but a couple of cups, plates, cutlery and of course a kettle would be ideal items to include and they don’t have to cost a fortune, plus your new tenant will be most grateful.
9 – Dining area
You could argue that your new tenants don’t need a dining area and this is true to some extent. A dining area isn’t exactly the most important thing to include in a property but it is important to some people, even if it just a breakfast table or patio furniture for a balcony if the property is in a sunnier climate. Of course, where you have a dining table you’ve got to have dining chairs so make sure that you get both or obtain them as a package. Occasionally, bulk-buying can be more cost-effective so this could be something to look into if you have more than one investment property.
8 – A mirror
Again, a mirror doesn’t sound like an important item of furniture to include in property but if we’re being realistic there’s vanity in the best of us and a simple mirror in the bedroom/bathroom will make the world of difference to your tenant.
7 – A TV
Watching the TV has got to be the favourite pastime of the British nation so putting a TV in the living room area is a must. If a potential tenant is looking to lease a property and they view one with a TV and one without a TV, it is highly likely that the property with the TV will be the favoured choice. Nothing says that it’s got to be top of the range or the widest in the world but it should make a difference. Let’s face it; no-one wants a house without a TV.
6 – Curtains/blinds
Curtains or blinds are essential in any home, in every room. Especially if your investment is in a high rise apartment in a sunny climate, there’s nothing worse than the sun blinding you when you’re trying to sleep and this will be of the things your tenant will grumble about. No matter what style of property you have a simple cream curtain or blind will be suffice and keeping it neutral will allow your tenant to add their own personal touches with their accessories.
5 – Storage
Some of the more newly built properties will come with built in storage such as fitted wardrobe but if your property doesn’t have this then it is a good idea to include some wardrobes and drawers so that your tenants have somewhere to put their belongings after they have moved in.
4 – Cooking apparatus
Nowadays most properties have fitted kitchens as standard so it is likely that if you have invested in a new development, it will already have a cooker and hob built in. If not then it is important that you provide your tenant with somewhere to cook even if it’s just a microwave oven where they can heat up a ready meal until things are fully sorted. If you have yet to purchase your investment, ideally opt for one where the kitchen is already built in as this makes the property more appealing.
3 – Refrigerator
Likewise, with a fitted kitchen it is likely that a refrigerator or fridge/freezer will already be incorporated, however if this is not the case it is a good idea to put something in place where your tenants are able to store their food. Again, your property will be more favourable with a refrigerator so it will be more beneficial to you if your property has one as standard. It is also important to ensure that it is a good size, especially if your investment property is being leased to a family.
2 – Sofa
Your property could be perfect in every way, but if it doesn’t have anywhere for tenants to sit, it may not be so popular with potential tenants. Again it is a good idea to stay neutral, go for a cream/white/black or brown collection of sofas and chairs as these colours are easy to match and tenants will be able to accessorise with various colours, this is especially good for short leases. In terms of material, leather is always a good option as it is easy to clean and condition and should last a long time.
1 – A bed
What is a home without a bed? After a long day there is nothing better than climbing into your bed which is why this is the most important feature to include in your investment property. This is especially essential if you have tenants leasing on a short term basis as they will definitely need the basics and won’t want to purchase their own bedroom furniture if it is only required for a limited period of time.
These 10 items are likely to make your property more rentable and you will be sure to receive some well-deserved gratitude from your tenants if you do. The best thing to do, especially if you are new to buy-to-let investment, is to put yourself in the shoes of your potential tenant. Imagine what you would want if you were in their position and put this into your property and you should have a popular rental.
Article courtesy of Select Property
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