 Furnished Apartment (by Roy [AL]) Jul 14, 2019 8:24 AM
 Furnished Apartment (by WMH [NC]) Jul 14, 2019 8:45 AM
Furnished Apartment (by Drew [CO]) Jul 14, 2019 8:56 AM
Furnished Apartment (by Jo [CT]) Jul 14, 2019 9:12 AM
Furnished Apartment (by Roy [AL]) Jul 14, 2019 9:18 AM
Furnished Apartment (by Roy [AL]) Jul 14, 2019 9:36 AM
Furnished Apartment (by AllyM [NJ]) Jul 14, 2019 10:07 AM
Furnished Apartment (by Roy [AL]) Jul 14, 2019 10:12 AM
Furnished Apartment (by Doris [OH]) Jul 14, 2019 10:53 AM
Furnished Apartment (by plenty [MO]) Jul 14, 2019 11:55 AM
Furnished Apartment (by JKJ [MA]) Jul 14, 2019 12:05 PM
Furnished Apartment (by Vee [OH]) Jul 14, 2019 2:20 PM
Furnished Apartment (by S i d [MO]) Jul 14, 2019 2:33 PM
Furnished Apartment (by Roy [AL]) Jul 14, 2019 3:59 PM
Furnished Apartment (by Ken [NY]) Jul 15, 2019 6:33 AM
Furnished Apartment (by Roy [AL]) Jul 15, 2019 7:20 AM
Furnished Apartment (by Roy [AL]) Jul 15, 2019 7:24 AM
Furnished Apartment (by Jasper [OH]) Jul 15, 2019 8:06 AM
Furnished Apartment (by Blue [IL]) Jul 15, 2019 8:53 AM
Furnished Apartment (by Roy [AL]) Jul 15, 2019 10:22 AM
Furnished Apartment (by Blue [IL]) Jul 15, 2019 4:26 PM
Furnished Apartment (by Roy [AL]) Jul 16, 2019 5:58 AM
Furnished Apartment (by BRAD 20,000 [IN]) Jul 16, 2019 11:55 PM
Furnished Apartment (by BRAD 20,000 [IN]) Jul 17, 2019 12:01 AM
Furnished Apartment (by BRAD 20,000 [IN]) Jul 17, 2019 2:46 PM
Furnished Apartment (by Blue [IL]) Jul 18, 2019 11:45 AM
Furnished Apartment (by Roy [AL]) Posted on: Jul 14, 2019 8:24 AM
Message:
I have a garage apartment (2/1 apartment upstairs, 1 car garage directly below it) that I am now stocking with used furniture. Yesterday, I went to the Goodwill store and bought several items dirt cheap. Plus, I have several items (new twin bed with frame) that some of my previous tenants have bestowed upon me.
In a few days, I will post photos of this garage apartment on Zillow and advertise it as "fully furnished'. I will be bumping the rent from $475.00 to $550/month.
Question: Does anyone here rent out furnished apartments? If so, then what is your definition of "furnished" and what type of tenants generally rent furnished apartments? I am not including any utilities in the rent,...this apartment has it own power and water meter. Any advice would be appreciated. --68.63.xxx.xxx |
Furnished Apartment (by WMH [NC]) Posted on: Jul 14, 2019 8:45 AM
Message:
Do you want to offer an "executive" apartment where everything is provided? Or just basic furniture?
Because there are levels of furnishing, as you know: plates, cups, forks, pans? Coffeepots and toasters? What about sheets and towels? Lamps and lightbulbs? Art for the wall? --50.82.xxx.xx |
Furnished Apartment (by Drew [CO]) Posted on: Jul 14, 2019 8:56 AM
Message:
I've not done a furnished apartment before but have toyed with the idea as an experiment as they can draw in a much higher rent. Here it seems those looking to rent furnish places tend to be those offered a contract position at the hospital 3 months or 6 months or at a chemical depot that brings in travelers for different contract lengths (less tha a year). --172.58.xx.x |
Furnished Apartment (by Jo [CT]) Posted on: Jul 14, 2019 9:12 AM
Message:
I rent to students. I have a three family house, three bedrooms first and second floor, two bedrooms third floor. Over time I have furnished the apartment. Students also leave furniture behind with my permission and sometimes it's terrific stuff, leather couches, nice futons. They don't want to schlep that stuff out.
It has proven to work well for me, as I can get summer students from other states who are glad to have everything there for them.
I also have acquired pots, pans, dishes, etc. it works great for my market. The only thing they like to bring is their beds, as I provide twin size, and they have queen size! --32.215.xxx.xx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 14, 2019 9:18 AM
Message:
WMH,
There is no such thing as a Class C- Executive apartment,...LOL. This garage apartment is located 30 feet behind a 3/1 house that I rent out for $675.00/month. There is a shared driveway here with ample parking in the rear.
One reason I am stocking this apartment is due to the steep set of narrow concrete stairs that leads up to the front door. I do not want any rental applicant saying " I will never be able to get my furniture up those stairs",...so I am doing it for them. 2 days ago, I hired 2 men to carry a 7 ft. wide leather couch up the stairs and getting that sofa through the front door was not easy,..but they finally got it in. More furniture (all used) will go in today. I have some cheap artwork that will go on the walls too. The kitchen already has a frig./stove. The only room I am having 2nd thoughts on it the laundry room which is downstairs next to the garage.
Does 'furnished' mean washer/dryer too?
--68.63.xxx.xxx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 14, 2019 9:36 AM
Message:
Thanks Jo (CT) for that information.
My previous tenants here were young millennial party types (not college students) and I would like to avoid those. Are there any college students that don't drink and smoke weed? I am kidding. --68.63.xxx.xxx |
Furnished Apartment (by AllyM [NJ]) Posted on: Jul 14, 2019 10:07 AM
Message:
Whatever people find in those hotels that are long stay type for people who work for a couple weeks in other states is what you should provide. So that might be also coffee maker and inexpensive pots and pans and dishes, toaster. If you allow a neutered cat you will get a better type of person that is capable of being responsible. --173.61.xxx.xx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 14, 2019 10:12 AM
Message:
AllyM
What connection is there between a neutered cat and a responsible tenant? Would a small dog have the same affect? --68.63.xxx.xxx |
Furnished Apartment (by Doris [OH]) Posted on: Jul 14, 2019 10:53 AM
Message:
You mentioned you don’t want the party crowd. When I first started out on my own I rented numerous furnished apartments, but only furniture was included not other household items. These apartments did seem to attract young people who didn’t have any furniture. Some others have mentioned people being in the area short term for business, do you want to get into m2m? --184.59.xxx.xx |
Furnished Apartment (by plenty [MO]) Posted on: Jul 14, 2019 11:55 AM
Message:
I'd add the washer and dryer. Will help attract a tenant. Could you ask even $10 more? --99.203.xx.xx |
Furnished Apartment (by JKJ [MA]) Posted on: Jul 14, 2019 12:05 PM
Message:
Right off the bat I must say, AllyM, what on earth does a male neutered cat have to do with this? Roy, I have no experience with furnished apartments but I would think that the nicer the furnishings and the more complete you furnish it the better, on the other hand the better it is the more you’ll get for rent I assume, therefore I would imagine you would get higher turnover. As others have said, those that require a nice furnished apartment and can afford it will be tenants looking at short term rentals until they find their own place or their job no longer has them in the area. I also think if you just have the basics as far as furnishings you would be attracting tenants of a lower quality that can’t afford furniture for 1 reason or the other. You didn’t really mention what your target prospect is other than “not the partying type” , could you advertise it both ways, so basically the option for renting it furnished is available for an increased rent. That way your not locked in and turning away the prospect that has their own furniture and you can possibly get it rented for more if the right tenant wants to take you up on the furnished option? --71.248.xxx.xxx |
Furnished Apartment (by Vee [OH]) Posted on: Jul 14, 2019 2:20 PM
Message:
Look up your area with air-bnb to get the rates for a 3nite stay, some offer monthly for furnished places, I have 1 and soon another 1 with everything including washer/dryer, my 2 nite rate is 170 - hotels collect this for a nite but they have a pool... --76.188.xxx.xx |
Furnished Apartment (by S i d [MO]) Posted on: Jul 14, 2019 2:33 PM
Message:
Be sure to figure you what your total cost (including time and labor) for providing all those amenities and make your payback period 6 months or less. It would be easy for someone to skip out and take all the stuff with them, so you want to be sure you're not inviting someone to clean you out after only paying a couple months of extra rent.
Maybe run it on a weekly rental basis so you can kick 'em out super Speedy like GKARL or DJ's rooming house? --107.216.xxx.xxx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 14, 2019 3:59 PM
Message:
I think the ideal tenant for this apartment would an elderly person on a fixed income. Who I choose to rent to has an affect on my good tenants who are renting the house in front,..just thirty feet away. My good tenants are family oriented people with 2 small children. They do not want a young party crowd in the back and I don't either. This neighborhood is all Class C and the furniture I am putting in it is very functional but dated. The leather couch that went in came my living room. I needed an excuse to buy a new one. --68.63.xxx.xxx |
Furnished Apartment (by Ken [NY]) Posted on: Jul 15, 2019 6:33 AM
Message:
I think you are going to too much effort,i would have just spent my time screening hard,by providing furniture I think you may be creating a problem,who needs a furnished house on a class c level? bums,crackheads etc --72.231.xxx.xxx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 15, 2019 7:20 AM
Message:
Ken,
This furnished apartment thing is an Experiment just to see what types I can attract with furniture. (I should have been a social scientist). 10 years ago, I ran another 'social experiment' on what would happen if I lowered my rent down to the slum lord level. Oh boy, the results of that were quite interesting,..don't want to go there again.
Plus, when you buy new furniture for your own home, what do you do with the old stuff? Take it to a rental house, of course. Today, I am taking a 13 inch portable TV with a built-in VCR to this garage apartment. I even have VCR tapes to go with it. --68.63.xxx.xxx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 15, 2019 7:24 AM
Message:
Ken,
This furnished apartment thing is an Experiment just to see what types I can attract with furniture. (I should have been a social scientist). 10 years ago, I ran another 'social experiment' on what would happen if I lowered my rent down to the slum lord level. Oh boy, the results of that were quite interesting,..don't want to go there again.
Plus, when you buy new furniture for your own home, what do you do with the old stuff? Take it to a rental house, of course. Today, I am taking a 13 inch portable TV with a built-in VCR to this garage apartment. I even have VCR tapes to go with it. --68.63.xxx.xxx |
Furnished Apartment (by Jasper [OH]) Posted on: Jul 15, 2019 8:06 AM
Message:
This type of apartment also attracts the newly divorced/breakup people who need to leave their current living situation and have nothing. It can work out well, especially when furnished very cheaply. I have had four fully furnished apartments at one time, including dishes, linens, etc. These were also in Class C neighborhoods. Tenants were screened as usual. There was never any damage or theft, and tenants often left things behind that enhanced the apartment. --71.28.xxx.xxx |
Furnished Apartment (by Blue [IL]) Posted on: Jul 15, 2019 8:53 AM
Message:
I have a FULLY furnished 1 BR house. By fully, I mean, sheets, towels, pots and pans, coffee maker...the whole shebang.
It rents like gold! I rent it MTM and keep utilities in my name and back bill monthly.
This started when I moved in with my SO and we had 2 of everything.
I was getting $400 month and now get $650.
It has a bonus room, which was a 1 car garage somewhere along the line turned into storage.
My longest tenant was an older man who had been staying in a long term hotel, and hated it. Was in the area as a contractor, thought he would be there 6 months and he was there 4 years!!
I get new to the area, newly divorced, or downsizing people.
This house is nothing fancy: I call it my grandma house: drop ceilings and panelling everywhere.
Everyone LOVES the extra storage area because they don't have to rent one.
--66.128.xx.xxx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 15, 2019 10:22 AM
Message:
Thank-you Jasper and Blue !!
I knew I would get some positive feedback on this post if I just waited long enough. Yes, this can work-out great in a Class C hood. --68.63.xxx.xxx |
Furnished Apartment (by Blue [IL]) Posted on: Jul 15, 2019 4:26 PM
Message:
PS
The shorter the term, the higher the rent. I had 1 guy who needed it for 6 weeks. Paid nearly double. --99.203.xx.xx |
Furnished Apartment (by Roy [AL]) Posted on: Jul 16, 2019 5:58 AM
Message:
Thanks again Blue - 'shorter term -higher rent' - I will keep that in mind. --68.63.xxx.xxx |
Furnished Apartment (by BRAD 20,000 [IN]) Posted on: Jul 16, 2019 11:55 PM
Message:
Roy,
I now have 2 furnished apts. Both are upstairs.
The first one was my attempt at AirBnb, fully furnished including iron, blow dryer, shampoo, first aid kit, etc. They have a list of required items which made a great shopping list to get it set up. Sheets, dishes, toaster, TV.
(13" with a VCR - you're kidding, right?! New flat screens are $100) In real life my occupants watched movies on their laptops, not the 42" TV I provided.
A grad student wanted it so I rented it for a year. (AirBnb is too much work, interrupts my FREEDOM!!!) His girlfriend lived an hour away so he was seldom there.
I pay the downstairs res $100 to use her internet, water, and elec. She loves it.
I added $100 to the normal rental price plus utilities.
(rent was $450 unfurnished. Now advertsied at $550 furnished plus $100 for utils.
I call it Granny's Apartment becasue it is furnished with really nice, clean, outdated overstuffed furniture and a granny sink.
NEW fridge so the guys from Lowes could carry it up the 19 steps.
Next occupants were a big shot manager who went home 2 hours away each weekend. HE worked 14 hours a day, just used the apt as a bedroom and shower for Monday night thru Thursday night.
Then a single guy fresh out of college with a new job at Cummins Engine. Quiet guy. Money saver. Local apts rent for $850-1200.
#2 is upstairs. Tired of people tearing up the steps and walls moving in junk which they left for me at move out. The place is rather homely in a not so great neighborhood so I wanted to make MY place stand out from the crowd.
Again added $100 for FURNISHED plus utils - $50 for water/sewer plus they pay the elec.
Ordered a queen sized bed stand ($78) and rolled up mattress ($98) from WalMart. The rolled up mattress could fit up the awkward stairs where a regular mattress would not.
All beds have bedbug zipper covers. ($45)
Quick and easy to buy some starter cooking sets at WalMart. Too much time to hunt these down at thrift shops and these all match and look nice.
The nicer furnishings looked good online and attracted better people. Your 13" TV will attract the wrong people!
Reminder: 2 Minute In Home Visit before you hand over the keys to all that furniture and supplies.
BRAD
--73.102.xxx.xxx |
Furnished Apartment (by BRAD 20,000 [IN]) Posted on: Jul 17, 2019 12:01 AM
Message:
PS
TONS of move in photos. Open each drawer and take a pic to show the forks, spatulas, etc as my inventory. Several pics of each couch, table, etc to prove it was not dented or stained at move in.
At turnover my housekeeper makes the bed with a second set of sheets and takes the old set home to wash.
NO COMFORTERS! WHITE sheets, and a washable blanket.
New pillows a cheap so we provide 2 new $4 still in the bag. People like that.
We pretreat EVERY home for bedbugs but in the furnished units we also spray the furniture. We use a non-toxic spray which does not require a license to use.
BRAD
--73.102.xxx.xxx |
Furnished Apartment (by BRAD 20,000 [IN]) Posted on: Jul 17, 2019 2:46 PM
Message:
Roy,
Put that sweet 13" TV/VCR combo on ebay and mark it VINTAGE!
You'll have hipsters drooling over it!
BRAD --73.102.xxx.xxx |
Furnished Apartment (by Blue [IL]) Posted on: Jul 18, 2019 11:45 AM
Message:
New cheap pillows, yes...white sheets, no! Pattern ed sheets. --99.203.xx.xxx |
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