A supplier to the niche Build To Rent sector claims new research shows private rental tenants happy to pay a premium for quality furnished property.
Manor Interiors says just over a quarter of UK tenants - 26 per cent - would be more likely to view a rental property if it was already furnished.
In addition, another 26 per cent stated that they would be more likely to rent a property that was furnished over one that wasn’t.
The firm’s survey of 1,174 tenants earlier this month found that as many as 66 per cent would be willing to pay more rent per month for a well-furnished rental property - but an even bigger number insisted that the furnishings be of a good quality to justify the expense.
“A furnished rental home is always going to carry far greater appeal amongst tenants, largely due to the money saved on buying furniture when moving into a rental home, during what is an already expensive period once deposits and initial rent payments are made” claims the supplier’s chief executive Farhan Malik.
“However, it also provides a far greater level of convenience which is something that resonates with the modern-day tenant, removing the need to spend a day or more moving large furniture items from one house to the next. The modern-day tenant also values style and quality and so furnishing a property with below-par furniture is more likely to deter them rather than attract them.
“You need only look at the build-to-rent sector to see the benefit of providing well-furnished homes for long-term tenants. These residents are more than happy to pay a premium for the wider lifestyle benefits provided by the sector and bespoke, high-quality furniture is an integral part of this offering.”
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