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How to kit out an investment property

 

Before you rush out to buy furniture for your investment property, think very carefully about what you need and even if it’s necessary to provide lots of furniture. it’s worth noting that many prospective tenants today are looking for unfurnished accommodation. Lots of properties are now unfurnished and tenants choose to get their own bits – it doesn’t generally impact the rental price if a property is furnished or not. The best rule of thumb is to consider your market, an apartment in the town may need to be furnished as young professionals or students will be hoping to rent with furniture. Students especially won’t want to buy furniture and professionals may be reluctant to do so too. However, for family homes in residential areas they may already have their own furniture so consider your demographic before planning the kit-out of your investment property.

 

When it comes to white goods, there are some items that you will need to supply for tenants such as a washing machine and oven, whereas for additional machines like a dishwasher and tumble-dryer, keep in mind that if whatever you supply needs to be maintained and replaced in time.  Most properties, particularly investment properties are sold with white goods and some  can be purchased with contents included. If so,  keep track of how old the contents are and plan for phased replacement over time.

 

Bedrooms should be furnished with wardrobes, drawers and possibly desks but again this is depending on the situation. You could advertise the property saying partly furnished and once a tenant is established consider what is or isn’t needed.

 

If you are buying new furniture you should make a list, shop around and order as required. Consider the size of the property and what is needed in each room. If it is for a high-end market most professionals or corporate tenants will expect a property to be comfortable, modern and stylish. Consider adding rugs, cushions and curtains to rooms to create an ambiance that is relaxed and trendy. However, be careful of going crazy and be mindful that some things may get damaged or broken. Don’t add an expensive white sofa that it likely to be damaged over a short period of time.

 

If buying beds, consider the bedrooms sizes and whether singles or doubles are appropriate in each room. Place mattress protectors on beds to sustain the lifespan of the mattress and choose beds that are easily moved and cleaned under. Again, consider your potential tenant and who will live in the bedrooms. A family home will need a double bed and the other rooms will probably require single beds especially if they have a baby that will need a cot with space to put it in. Buy a sofa that can have its covers removed and cleaned while pick tables and chairs that are durable and easy to clean. Remember everything should be fire-resistant too and check with retailers if unsure.

 

Think about the durability of additions to the home, items should be hard-wearing and easy to clean. When painting try and keep colours neutral but don’t be afraid to go further than magnolia either. Keep rooms fresh, clean, simple and warm but with an element of flair. The garden too shouldn’t be overlooked, and you need to make it as maintenance-free as possible to avoid messy gardens. Neighbours will not appreciate a garden in their area becoming an eyesore simply because your tenant does not have the time or green-fingered talent to maintain it. If gardening is an issue, consider getting a local service to look after the upkeep. Finally, everything in the property should be in full working order and you should carry out an extensive itinerary list prior to the signing of the lease agreement.  This list will be used for subsequent lettings so keep it up-to-date.

 

If you are considering buying or selling in the South Wicklow and North Wexford areas in 2018, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at kinsellaestates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.  Alternatively, email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

on Thursday, June 21, 2018 in News

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