Quality of furniture question

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    Quality of furniture question

    Hi,

    We are going to be renting out our 1 bedroom London flat. In terms of rent we are looking to rent the property out for in the region of 1500 - 1650.

    My question is this: what quality of furniture do people expect?

    Is it a case of put Ikea furniture in the property and the jobs done? Should we be putting a nicer quality of furniture in the property, e.g. Warren Evens types stuff?

    Does the quality of the furniture affect the amount rent that the property can generate?

    Thanks,
    J

    #2
    The presence of furniture - at all - creates an extra headache for you as the Landlord... have you considered unfurnished or is it a no-go? I started off letting properties fully furnished... over time I kept getting requests to remove this or that, and update the Inventory... being accommodating I would do this, but I'd need to find a place for this or that to go... sometimes that place was Freecycle(!)... sometimes a friend, sometimes my garage. I now have moved towards unfurnished. It just makes life easier and I've not yet found that it lowers the rent (although I do not have tens of properties to compare against). The basic starting problem with furniture is that it may not be what some Tenants want... whether they actually need the item in question at all, or they don't like it (strongly)... so it can work to your benefit and to your detriment... it can draw in Tenants, it can steer them away. If you can't avoid it... I would, personally, go for quality and sturdy, that may rule out Ikea in your mind.

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      #3
      Well yes, of course quality affects rent: If everything is threadbare, tatty, falling apart, obviously the cheapest possible then, guess what happens to the rent you are offered.

      However "quality" in what sense? What looks lovely on the web-page may not be robust in a letting environment. I've found IKEA stuff pretty good - especially if carefully put together and all wood-joints glued for extra strength...

      As the place is currently unfurnished you may consider advertising as unfurnished or furnished - as someone might have their own stuff: If someone wants it furnished then a relaxing & pleasant trip to IKEA or wherever in the run up to Xmas: I had one hideous such experience getting a complete 3-bed house load on an august bank holiday in Glasgow..... aaaargggggghhhhhhhhhhhhhhhhhhhhhhh................
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

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        #4
        jrturner1234, just as a matter of interest : -

        Here, "oop north" but property prices are not low, for £ 1650 per month I can rent almost 3 houses for that price ( unfurnished ) , so I would want yours fully furnished, and to an exceptional high standard.

        Comment


          #5
          It depends on what type of tenant you are trying to get. That is key to what you should provide. If you have an agent, speak to them for advice.

          My guess is that at that price you would be renting to a young professional couple but it depends where in London it is.

          I rent to young professionals in London. Sometimes they are sharers, sometimes they are couples. Provide the basics - appliances, beds, wardrobes, chests of drawers, sofa's, coffee table, dining table and chairs. Often they'll want to bring in a few items of furniture that are their own. If you provide the basics, that allows them to do this. I now provide decent quality appliances - usually Bosch, but the basic model. There is less to go wrong and most people don't read instructions. The more expensive models just have features that are confusing and nobody ever uses. Leather sofa's are good. They cost more to start off but they are hard wearing and if they are decent quality, they don't stain and are easy to keep clean. I do use Ikea furniture as well. Some of Ikea's stuff is decent quality. If you buy cheaper, less good quality stuff, just expect it will break/wear out sooner and you'll have to replace it more often. You don't have to spend a lot of money to get furniture that looks good and is reasonable quality.

          Comment


            #6
            I rent 2 bed flats for between 385 and 450 / week. A lot of the furniture is Ikea - e.g. leather Klippan sofas and Poang chairs (which look much like new after 6 years of letting) - or of that kind of price point. You can certainly get a good quality look and feel if you select the right stuff. I also use "copy" Eames type chairs from ebay, etc.. Keep it simple and modern.

            I provide beds with a mattress topper in the hope that this will extend the life of the mattresses although they tend not to be used. I am definitely going to spend more on mattresses next time round as they have been my only real source of complaints.

            Renting furnished makes a lot of sense because the 10% allowance is so valuable at London prices. I can furnish an entire flat for close to the current allowance.
            Assume I know nothing.

            Comment


              #7
              jdmf - post 5,

              That is excellent advice.

              I've never understood the LL's who install the lowest range appliances/furniture and then get frustrated when it needs to be replaced after only a short while. If you pay the little bit extra at the beginning for nicer stuff, you will save yourself from headaches, call out fees, etc.

              As a professional tenant who rents in London (and friends with many professionals doing the same), if you are targeting the 25-35 professional age bracket--it'll definitely need to be furnished to some degree. Only the basic stuff (bed, wardrobe, table, etc.) as jdmf mentioned. An unfurnished place in London is probably going to attract a different person, just because this is not the norm. The split of properties advertised in London seems to be 85% furnished/15% unfurnished.

              In my current flat, the only thing I have added is a small writing desk+an extra small table near the bed for the kettle. Having previously rented from the type of LL who outfits a flat with the lowest grade Ikea furniture, I would probably avoid this entirely. Most professionals in London, even if not clued up, would inadvertently notice low quality Ikea furniture from their university days and wondering whether they want to re-experience said furniture. Alternatively, if I saw a property with Bosch appliances and anything from a mid-grade DFS sofa and up....I'd jump all over it. Not only because the quality, but because it reflects a LL that truly cares about his property and T's. I would personally pay at least an extra tenner per week, if not £15.

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