Ethelrapp, Renter in Brooklyn, NY

How much additional value does a fully furnished apartment have over an empty apartment?

Asked by Ethelrapp, Brooklyn, NY Wed Apr 17, 2013

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5
Bill Eckler’s answer
BEST ANSWER
Simply stated, its the value of the furnishings....with this said, most people lend to overvalue their furnishings in these situations. When buying we always recommend, when negotiating a contract, to make your offer based on the home itself. Then after the fact, make an offer on the furnishings.

In the case of renting, the presence of furnishings is also over rated. If you able to be inconvenienced a little and begin by ruffing it a bit, you may be surprised how cheaply and nicely, you can furnish a unit.

I frankly would prefer an unfurnished unit from the perspective that it's one less thing I have to worry about. A stain on the sofa, a broken chair leg, or scratch on a finish has the potential of resurfacing in the form of a penalty on your deposit.

Bill
0 votes Thank Flag Link Sun Apr 28, 2013
It all depends on the situation. Many home buyers or renters don't want existing furniture in their new apartment as they want to furnish themselves. In cases like that, it wont add any value at all. If it's a short term rental or vacation rental, then furniture definitely adds value, and might even be necessary to get what you're looking for.

Usually when selling a home, furniture isn't included. Sometimes buyers will ask for furniture and then it is just a matter of negotiating a price based on the value of the furniture, it's age and other similar factors.

That being said, staging is almost always a good idea when you are selling or renting, as it gives buyers or renters a good idea of what the apartment could look like with furniture in it, and gives a better feel for the size of the home. Empty rooms tend to look smaller than furnished ones.

Good luck!
0 votes Thank Flag Link Wed Nov 12, 2014
I think that it adds quite a bit of value. I know that a lot of people prefer having furniture in the apartment already. You should definitely consider having the apartment furnished if you are renting it out. http://www.universalproperties.ca
0 votes Thank Flag Link Mon Nov 10, 2014
Fully furnished, i.e., sheets, towels, forks, pans, plates, etc., are a special market, often for temporary corporate guests. Rent can be 60-80% over a vacant rental.
0 votes Thank Flag Link Fri May 31, 2013
Greetings
it varies based on the term of the lease & the season (season is Dec-March in S. Florida)

generally, an unfurnished rental commands more rent for annual & a fully furnished or turnkey unit will command more for a short term or seasonal rental (3-6month range)

- for an annual rental the answer (unless it's perfect gorgeous furniture) is none.

take care

Rhett Winslow
Real Estate Sales Agent at Coldwell Banker Boca Raton

rhettwinslow@me.com (direct email)
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Rhett Winslow at Coldwell Banker
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0 votes Thank Flag Link Wed Apr 17, 2013
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