Tuesday, August 01, 2017

The Big Landlord FAQ: Can I Have A Decorated Rental?



There’s a side of the landlord business that most people don’t think about until they consider preparing their property for renting. Have a guess what it could be. Income tax? No. Legal agreement? No. Landlord’s duties? No. In fact, as odd as it may sound, one of the most common dilemmas that landlords have to face is interior décor. Indeed, being a landlord doesn’t mean that you can’t influence the style of your rented property – properties if you own more than one. There are risks and challenges related to the advertising and the management of a decorated rental. But more often than not, knowing your market and identify the right tenants for your property can sort a lot of issues out.






#1. You Need To Avoid Trouble Tenants
For a start, with decorated rentals more than with anything else, you need to be especially selective when you pick your tenants. You need to choose people you feel you can trust. Similarly, you need to stick to your part of the deal and show them that they can trust you too, by respecting their privacy and doing the necessary repairs as soon as possible. There is no profiling tool for the best tenants, but as a rule of the thumb, you should avoid families with young children if you’ve invested in an elegant interior décor. Elderly couples or young and dynamic Millennials are great tenants for decorated properties.

#2. Defining The Home Décor Is The Way
If you choose to rent a decorated place, you need to make sure that the interior décor has been arranged with taste. There’s nothing worse than looking for furnished apartments that are a combination of odd pieces of furniture piled together in a room. Tenants who choose a furnished and decorated property do have standards of aesthetic too. They are not ready to invest in furniture, but that doesn’t mean that they are happy with using the old furniture that you didn’t want in your home. Creating a home décor for your rental means that you have to invest in it. Yes, you’ve read right: New furniture, new paint on the walls, etc. That’s the kind of details that can make your décor come to life.


#3. Short-Term Tenancy Limitations
The main problem that you will find with renting a furnished place is that you are less likely to attract long-term tenants. Indeed, you will find that short-term rentals attract students, who don’t want to buy new furniture. Unfortunately, students tend to be also a high-risk type of tenants, due to the inevitable party time at home. However, this is where you need to select your tenants wisely, as not all students are likely to be vandals! Additionally, a short-term rental means that you need to look for new tenants a lot.


#4. Holiday Rentals Are A Solution


But it’s not impossible to keep a stylish property as a profitable rental, especially if you use it as a holiday rental. Indeed, this kind of renting experience is familiar to Airbnb customers, where fully furnished and decorated properties, or rooms, are offered as a rental. While there is a risk of damage – however, you are covered by the renting company’s insurance – you can enjoy letting a decorated, homely property to tenants who will appreciate your efforts.  




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