The Investing In Furnished Apartments Argument: Which Side Are You On?
A raging debate in the property investment world at the moment is whether furnished apartments are all they are cracked up to be. They are often marketed as making as great investments for the owners, but just what are the strengths and weakness of the furnished apartment for anyone looking to invest? Read on to find out.
The resident can move straight in
Some folks find decorating and furnishing a whole house intimidating.
One of the biggest draws to furnished apartments that the resident can move straight in without having to go to the trouble of decorating and finding furnishings and appliances. The is a huge convenience that makes them very popular with a great rage of people, as let’s face it, moving can be a pretty stressful time, and anything that makes this less so is always going to be a boon.
This means furnished apartments like the ones you can rent from Interim Homes hold a certain appeal for residents. Something that in turn means that they can work as good investments for the owners because they are highly desirable. This means they are easy to lease out and charge a decent fee for, making your investment more profitable.
Do furnished apartments make it harder or easier to settle in a new area?
Some residents feel that a weakness of the recent trend for furnished apartments is that they can make it harder for the residents to settle in a new area. This because instead of being surrounded by their own items and things they love they are surrounded by pre-picked decor, color schemes, and accessories. This can make it feel like they are a guest in someone else’s home, rather than it being the place that they truly live.
However, the opposite it true for other residents. This is because they have more time freed up to make new friends and connections in their new town and neighborhood, as they don’t have to spend as much time seeing to the decor and organization of the home. So while furnished apartments may be seen as undesirable for some, for others, they are the perfect choice for when they move. Something that ensures they will remain a desirable commodity and so make a good investment in the long term.
Furnished apartments tend to be mostly short-term
Lastly, something that can affect their desirability both for residents and for owners is that furnished apartments tend to only be leased out in the short term. For those leasing them, this can work well, especially if they are moving around the country on work projects and wish to take their family with them. Something that suggests they still have potential to be a good investment.
However, short-term leases can be problematic for the owner because they take more management and can be harder to fill all year round, making it uncertain as to whether you will receive a regular income. Although it is worth noting that the prices of short-term furnished lets are often much higher to absorb some of this possible deficit. So they continue to be a good choice in the property investment market.