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Landlords can get up to 21% more rent for a furnished property, research shows

While the cost difference between furnished and unfurnished rentals varies across the country, generally speaking you can typically expect to receive more in rent for a furnished place, according to research from OnTheMarket.com (OTM).

The property website has found that landlords renting out a two-bedroom furnished property can achieve up to 21% more per month in rent than renting an unfurnished property of the same size in the same area.

The data gathered uses average monthly rental prices based on two-bedroom flats across nine major UK cities, to determine the average difference in cost between renting a furnished or an unfurnished property.

The study found that renting a two-bedroom furnished property in the city of Sheffield costs tenants an average of £726 compared to £598 for an unfurnished property of the same size, which is a 21% increase in price – more than anywhere else in the UK.

In Newcastle upon Tyne the difference is £85 more – a 14% difference, Birmingham (£127 more – a 20% difference), Sheffield (£128 more – a 21% difference), Manchester (£101 more – a 15% difference), London (£128 more – a 9% difference), Leeds (£128 more – a 19% difference), Glasgow (£86 more – 13% more), Coventry (£102 more – 15% more) and Cardiff (£50 more – 7%).

Helen Whiteley, commercial director at OTM, said: “Ultimately this research suggests it’s worth calculating the cost of furniture to decide whether the initial financial outlay can be off-set over time during the rental period.

“Spread throughout a 12 month tenancy, these costs become around £150 per month meaning it is worth prospective tenants giving serious consideration to whether or not they are embarking on a long term let. That said, there are clear benefits and a level of convenience of walking into a ready-to-live-in property when weighed against the alternative of buying everything yourself.”

Poll: Do you agree that buy-to-let landlords can typically expect to receive more in rent for a furnished property?

PLACE YOUR VOTE BELOW

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    Where we are just outside Nottingham tenants only want unfurnished as they have their own. We had a property once that was furnished and it took months to let it out as opposed to days for unfurnished. In theory you could probably ask more for a furnished property but the lengthy void period and the cost of replacing furniture/kitchen appliances makes the decision easy for unfurnished every time!

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    when i first started btl in the 80s i used to furnish properties, now i only supply a cooker, much easier, tenants take a bit of care of their own items.

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    Agree, I did the same now a waste of time

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    Who writes this rubbish?

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