Furnished properties quicker to let out
Furnished properties in the rental sector are reportedly quicker to let out, lettings and sales agent Benham and Reeves has showed.
On average, 85% of properties entering the rental sector are let out within a week after having been professionally furnished beforehand.
Anita Mehra, managing director of Benham and Reeves, said: “Furnishing a property is about doing it well and thinking about who you want to attract as a tenant.
“Yes, it can add rental value in some instances, but this is often a common misconception and should not be the overall objective of a landlord.
“The focus should be on letting the property quickly and to a high quality of tenant and by doing so, the financial side of your investment will look after itself.
“If you want to attract top corporate professionals, then you have to provide the wow factor that makes your property more attractive than anything else being offered in the same building.
“This is key and by making the applicant fall in love with your property, they want it on the spot.
“This is the driving factor behind well-furnished properties letting so quickly, as in a competitive space like the London rental market, there’s no time mess around otherwise it will have gone to someone else.”