Getting your home prepared for furnished rental can be quite a hassle initially but there are numerous benefits that can be gained in the long term.
The main idea behind renting your home furnished is that it will be more marketable and so it will be easier for you to find suitable tenants. If for some reason you feel that renting an unfurnished home is more suitable for you, then it is best that you do so. You can also seek advice from Property Management in Denver about what would be most ideal for you.
● You will be able to charge a higher rent
While there will be an initial cost to prepare a furnished home for rental, you should be able to recover those funds quite easily since you will be able to charge higher rental fees to tenants. Being able to charge a higher rent would therefore lead to you receiving more income in the long run.
● Your home will be appealing not only to long term renters but also short term ones
A furnished home is one that holds appeal to anyone who is interested in convenience and suitability. For those persons who are only interested in finding a place to reside for one to three months, this would be ideal for them. Renting a furnished home is therefore much more marketable than an unfurnished one in this regard.
● More tax benefits
When renting a furnished home, you should have certain tax benefits made available to you. One such benefit is that you will be able to reclaim part of the expense of having to buy the furniture by including it in your tax bill as a 5 year depreciable asset.