The Benefits of Renting Your Investment Property Fully Furnished in Sydney, Australia
When it comes to renting out your investment property, you face many decisions. One of these decisions is whether or not it is necessary to furnish the property. Managing furnished investment properties also becomes simple since you can get in touch with Furnished Properties Pty Ltd, who can help manage them for you. To help you decide, here are some benefits of renting your investment property fully furnished.
- Furnishing Tapers Your Target Market
Furnishing your investment property is an ideal way to target a particular group of tenants as your ultimate occupants. Furnished properties appeal to young tenants who are renting their first place or people moving a considerable distance. Such people find transporting furniture across the country impossible, and the idea of buying a whole apartment full of furniture is also out of the question because of the costs.
- Higher Returns
Most investors choose to rent their investment properties fully furnished since they can charge more. Since you offer something extra, you can charge higher than what the unfurnished properties available on the market do. The tenants are also very enthusiastic about paying more since the furnished unit is convenient.
- Shorter Leases
Another pro for an investor who chooses to rent out fully furnished investment properties is that they deal with shorter leases. A furnished investment property is an ideal solution for corporates, vacationers or even expatriates who are working abroad on contracts. As a result, there is greater flexibility in the length of the rental contracts you offer the tenants. Additionally, a high turnover allows you to inspect your property on a regular basis, and this helps in maintaining the place in an excellent condition. For instance, most of the properties that Furnished Properties Pty Ltd manages have a high turnover since their properties are typically occupied for over 90% of the year.
- Tax Advantages
Another benefit of renting your investment property fully furnished is that you can claim some tax advantages such as depreciation on the furniture. Other tax benefits are dependent on the type of investment property and with the help of an accountant; you can discuss the available options.
- Better Tenants
Furnished investment properties attract people such as professionals from corporations. Such people can pay the high rent and are also generally less likely to behave unacceptably or ruin the property.
If you already have a fully furnished investment property, you can partner with Furnished Properties Pty Ltd to manage it for you. They can provide advice on what you should do so that they can assist you through the process. As a result, you can begin maximizing on your investment.