It would come as a natural occurrence that the mere change in the interior would not alter the customer’s perspective to a great extent. However, that was usually not the case found where there was a heavier weight age given to the furnished apartments as opposed to the unfurnished ones.
The Variation in Terms
So what exactly is the definition of a furnished apartment. According to the realtors, the accommodation that comes with all the basic amenities like cabinets, cupboard and lighting. Moreover, household appliances such as refrigerator, washer and dryer also fall under this very umbrella.
Whereas, an unfurnished accommodation would live up to its term. This would then greet the customer with the bare walls and fundamental fittings.
Now, the question is what appeals to the buyers or rather what are they likely to purchase or rent. Well, a furnished property definitely has a 25 to 75% higher rental value and a lower tenancy tenure. These are rented out quicker and attract younger residents who usually avoid the hassle of shopping for the furnishings and afford more convenience.
Even large corporations and multinationals tend to rent the furnished apartments for the expatriates or high-end visitors. It’s more convenient for them than to book a hotel room.
On the flip side, the owners of fuller apartments are inclined to be very particular about the maintenance of the items in use. They do mention this before letting the tenants in. At that point, it’s best to take notes or even pictures of a before and after apartment state to avoid the unnecessary complaints that may occur. To play it safe on both sides.
As seen, the unfurnished apartment is much sought after by families who wish to furnish it according to their own needs. This would then present an ideal opportunity for them to embark on a shopping spree to select the items that would be suitable for the family size and light on the purse strings.
Such spaces also have a longer lease as the occupants settle in to make it their home. It would certainly take time for it to grow on them so they are highly unlikely to leave it soon.
The Owner’s Perspective
To furnish or not to furnish is the million-dollar question. The owner would certainly, deliberate on this.
Furnishing the apartment would mean higher rents and shorter lease. In certain regions tax is also included in the rent if the lease is below six months. The owner can also later on use the contents himself once the tenants leave. However, the worry is twofold as the furnishings in use may or may not be left in the original condition.
On the other hand, the unfurnished apartment may not be valued in terms of rent but the owner is relaxed as he is not on the constant lookout for its occupancy. The rent is stable and the tenants toned who can add onto the interior decor themselves.
Two Sides of the Coin
Hence, selection of the furnished and the unfurnished apartment would rest on the above factors but truly on the customer’s demand. So, this would then be merely a choice of what best suits the requirements as well as whether it’s self-financed or sponsored. And that would make all the difference!