New college students typically don't have that many possessions, which is why finding furnished apartments is such a great idea. However, as a landlord, it can be hard to know which items to add and how to keep them in great condition. Here are three things you should always remember if you have a rental property you are thinking about furnishing and why.
1. Aesthetics Although you may want to create an ultra-urban, sleek appearance for your student rental housse, if you want to appeal to most students, try to stick with basic furniture pieces in neutral colors. For instance, instead of that glossy black coffee table, consider selecting one made from a neutral wood color like maple to mesh better with most décor.
The same concept holds true with upholstered furniture items, such as sofas, loveseats, and ottomans. Try to stick with beiges, grays, and other earth tones to avoid creating a stark contrast between a student's own belongings.
2. Durability Over the years, your property could be subjected to a great deal of abuse from renters, so invest in high-quality furniture pieces that can stand the test of time. Look for the signs of craftsmanship, such as dove-tailed joinery on furniture pieces, tightly-knitted upholstery fabrics, and real-wood construction.
If possible, shop for pieces that are backed by a manufacturer's warranty. While many of these items may not be covered if someone damages them, they may be covered if the piece has manufacturer's defects, such as improperly drilled holes or joints that weren't glued.
Photograph furniture pieces between tenants so you can track the condition as time moves forward. If you notice that certain items are starting to show their age, start saving for a replacement right away.
3. Function When you shop for furniture to store in your furnished rental apartment, pay close attention to function. Make sure that mattresses are comfortable, sofas are big enough, and entertainment stands are sturdy enough to endure the weight of heavy television sets. Additionally, make sure all areas are well-furnished, so that students can take advantage of the entire space.
Whether you are thinking about updating your space or you have questions about how to attract the right renters, it makes sense to talk with a real estate professional. Chat with a real estate agent today to learn more about what renters are looking for, how to improve the value of your space, and what you need to know before listing your place on the market.