When searching an accommodation, we often attend to the property’s condition and location. The more ideal a place is, the more desirable it appears to us. However, have you ever wondered how you’d fulfill the furniture and utensils after moving in?
To our knowledge, a furnished apartment has all the furniture and fittings that a person needs to live comfortably. With that said, it’ll command higher rents than the unfurnished ones since depreciation will occur for assets like beds, couches and tables over time. Likewise, furnished apartments for sale in Dubai and elsewhere also demand a higher quotation.
As landlords try to entice tenants into signing the lease agreement, let’s get over the debate of the merits and demerits of renting a furnished flat.
Pros of Furnished Apartments
- Quality over Quantity
Moving in isn’t about stuffing your new house with unnecessary possessions for the sake of décor. For this reason, opting for a furnished flat would be wise if you can’t afford to purchase new furniture and crockery for your apartment. Although the landlord will charge you 20 to 40% more, it’ll be a worthy investment.
- Higher Security Deposit
Security deposit refers to a one-time, refundable amount a landlord collects from a tenant following the monthly rent. As for the furnished flats, you’ll have to pay higher security deposits. The deal is to protect the landlord’s belongings by covering the repair cost in case of damaged furniture. While it appears to be a hefty investment initially, the payback becomes a beneficial deal when moving out.
- Predictable Target Market
Since furnished apartments are relatively expensive, landlords and sellers tend to attract high-profile buyers. If the property is in an educational or commercial area, chances are that young professionals and working-class people might get drawn to it. So, you see how dealers can benefit from attending to their target audience.
Cons of Furnished Apartments
- Higher Damage Potential
A furnished apartment means that there are more possibilities of damage, ultimately imposing a greater financial burden. If tenants fail to protect the furnishings inside the property, they might lose their security deposits. As landlords keep watching for damages and wear and tear, tenants are under constant pressure to secure their assets.
- Higher Turnover
Another drawback of moving to a furnished apartment is that tenants often prefer temporary lease agreements. Renters like young adults, students and bachelors who don’t own material goods usually seek furnished dwellings as they’re more transitory. So, after moving out of the premises, they don’t have any possessions left to set up a new life.
- Storage Costs
Despite renting a furnished apartment, tenants possess a few necessities of life, including mattresses, closets and bedframes. In that case, landlords are responsible for arranging storage for those belongings. For instance, if tenants request to accommodate their assets within the flat, landlords must cooperate in making space for them. However, it’s pretty hard to convince the homeowners in some cases.
With no moving-in cost, deep-cleaning or additional maintenance, we can’t doubt the perks of a fully-furnished apartment. Yet, we must adhere to the possible risks which can cause you financial harm after leaving the property. While furnishings appear to be overwhelmingly impressive, you must consider the process’s downsides to avoid any future mishaps.