Experience in fully furnished rentals

[Don't believe the Hype]

Hi All - I've been asked by a potential tenant who is in NZ on a 3 year work contract if we would consider renting the property to them fully furnished for the duration of their contract.

We we have never rented any property FF and wanted to get others opinions and experiences on the topic.

What problems have you had or did FF turn out to improve your profitability?

Thanks in advance.

[Anthonyacat]

Not common outside of the CBD apartment and really fancy executive-rental markets.

Personally, I'd be looking at locking in a 3-year fixed term, and attempting to recover 80%+ of the purchase value of the furnishings in increased rent over the 3 years.

[flyernzl]

If you provide it at the start of the tenancy you then assume the liabilty of repairing or replacing it during the term of that tenancy.
Could be expensive.

[Don't believe the Hype]

If you provide it at the start of the tenancy you then assume the liabilty of repairing or replacing it during the term of that tenancy.
Could be expensive.

there in lies my concern - any accidental damage, claimed accidental, would be at my expense. I wonder if we can do two separate documents, one a normal tenancy agreement, the other a furniture rental agreement similar to what Mr. Rentals would offer.

This is way liability for damage has nothing to do with the tenancy.

[Beano]

Best left to them to deal direct with "Mr Rental"

[Nick G]

For your market I don't think it's worth it to buy nice stuff. If you can't then let the property "furnished" that's a lot of write-offs.

[Nice]

We do a few apartments F2F and have not had any issues with failures or damage. While I don't own them, I understand the tax write off is relatively high, and like the whiteware I do provide in my own, the chattels last well beyond the write off period.

[hawkeye]

The less big furniture moving in and out of a house the less damage gets done to the walls etc when people move.

[DaveW]

Hi All - I've been asked by a potential tenant who is in NZ on a 3 year work contract if we would consider renting the property to them fully furnished for the duration of their contract.

We we have never rented any property FF and wanted to get others opinions and experiences on the topic.

What problems have you had or did FF turn out to improve your profitability?

Thanks in advance.

I do FF whenever I get the opportunity. Increased rent = increased lending.