Back in 1985, just 9% of households rented their homes from private landlords. Today, the figure is 22%. As well as there now being a record number of renters in the UK, there is also a record number of private landlords, with many investors attracted to the sector by the excellent returns it offers. As a result, many new landlords are unfamiliar with the rental process and the requirements that come with it.
One of the most common questions we’re asked by new landlords is whether or not they need to furnish their properties and provide standard white goods for their tenants. If you’ve recently taken on a rental property and are looking for answers, here are a few pointers to help you decide whether to furnish, or not to furnish.
Is furnishing a property mandatory?
There is no requirement on landlords in the UK to furnish their properties. It’s up to each individual landlord to decide whether they want to provide furnishings or not, with some parts of the country preferring furnished and some parts of the country preferring unfurnished rental properties.
If you furnish your rental property with high quality sofas, chairs, tables and beds, you may be able to charge a little more for it. Though in general, you won’t get a huge amount more in rental income for a furnished property compared to an unfurnished property. However, if your buy to let is in an area of the country where renters prefer furnished properties, you may find it more difficult to secure tenants for a home that’s being let without fixtures and fittings.
Even if they’re not furnishing their properties, most landlords will provide standard white goods. This means washing machines, fridges, freezers and possibly tumble dryers and dishwashers, though these aren’t essential.
If you do decide to fit your property with white goods, it’s important to make it clear in the rental contract who is responsible for their upkeep. In most cases, the landlord will be the one to pay for repairs and replacements, however there are no laws to govern this, so you can choose the path that’s right for you.
Whether you decide to offer a property furnished or unfurnished, investing in a rental home is a good way to ensure good short term returns and a secure long term investment. To find out more, or to search for opportunities in the local area, explore our site today.
To find out more about the local and national property market, or if you would like to chat about anything to do with property investment, give us a ring on Norwich 01603 567804 or send us a message.
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