Are you planning on investing in a new Portland Oregon Rental Property but you’re not sure if you should furnish it, or not furnish it?
Even though many landlords typically don’t furnish their properties, the reality is that offering a furnished rental property to your tenants does offer the following advantages:
Rent Your Property For Higher Rates – The first reason to furnish your PDX rental property is the fact that you can rent it for higher rates. This is because your property will attract tenants who are relocating to the Portland area, or moving without furniture, and want to move into a home without having to furnish it themselves.
On average, most landlords who rent furnished rentals can rent them for about 15-20 percent more than non-furnished rentals but there are things to consider before going this route like the cost of furnishing a property, depreciation of assets, etc.
Fast Move-Ins – Another benefit that will come from renting a furnished rental property is you will be able to attract tenants who are ready to move in now. This is an awesome benefit because you can quickly fill a vacancy while making it possible for your future tenant to move right into a new property that offers everything that they need.
You Can Charge A Higher Security Deposit – Tenants who rent furnished properties expect to pay higher security deposits simply because they know that they are paying more for the privilege of renting a property that already has the furniture that they are going to use.
Good Tax Incentives – Last of all, but most important, don’t forget about the tax write-offs! You can write off the money spent on furnishing your property and this will make it easier for you to accomplish your long-term goals.
Contact Rent Portland Homes
At Rent Portland Homes, we specialize in local property management and can offer you the following services including tenant placement/selection, rent collection maintenance, customer service, and more.
Property management is the key to earning more from your rental property and truly earning a passive income
To learn more about the property management services that we can offer you, contact us today by clicking here.