Touchpoint Property Management does not manage furnished rental properties as a matter of policy, and there are several reasons for this. Read below for details.
Unfurnished traditional rentals offer landlords lower initial costs, reduced maintenance and liability, longer tenancies, and simplified management. These benefits contribute to a more stable and cost-efficient rental operation.
- They take excessive time to rent, leading to high losses due to vacancies. Most renters already have their own furniture and are reluctant to pay extra for unwanted furniture.
- Furnished properties primarily attract short-term renters, resulting in frequent vacancies. Consequently, the costs of tenant placement are excessive and recurrent.
- Maintaining furniture involves too much liability and expense.
- The majority of Home Owner Associations have prohibited short-term rentals. (Furnished rentals attract short-term renters)
- Municipalities are increasingly moving towards higher regulations and banning short-term rentals. (Furnished rentals attract short-term renters)
- Income and expenses are unstable, leading to lower profits and more stress.
Landlords are transitioning from furnished short-term rentals to unfurnished traditional 12-month rentals due to the stability, predictability, and reduced management burden associated with long-term tenancies. The regulatory landscape, economic uncertainty, and operational efficiencies further incentivize this shift, making long-term rentals a more attractive and sustainable option for many property owners.
What should the property Owner do with their furniture?
- You can take it with you when you move.
- Put it in a local storage unit.
- You can sell the furniture on Facebook Marketplace, at a yard or estate sale, or through a consignment company. (This could take a while)
- You can donate it to a charity such as Goodwill or the Salvation Army, which will pick it up for you. (This is quick and easy, and you may get a tax benefit)