{"id":4111,"date":"2018-11-10T08:00:36","date_gmt":"2018-11-10T16:00:36","guid":{"rendered":"https:\/\/blog.liv.rent\/?p=4111"},"modified":"2024-01-24T13:42:56","modified_gmt":"2024-01-24T21:42:56","slug":"furnished-vs-unfurnished-rental-guide-for-landlords","status":"publish","type":"post","link":"https:\/\/liv.rent\/blog\/landlords\/furnished-vs-unfurnished-rental-guide-for-landlords\/","title":{"rendered":"Landlord Guide: Furnished vs. Unfurnished Rentals"},"content":{"rendered":"\n

Furnishing a rental property is a considerable expense. Should you spend the money, or let your tenants furnish the unit themselves? We’re liv.rent<\/a> and we’re here to make facilitate a smoother rental process from start-to-finish, for both landlords and tenants. If you’re on the fence about whether you should rent your unit furnished or unfurnished, this guide will hopefully help make your decision a little easier.<\/p>\n\n\n\n
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Table of Contents<\/strong><\/h2>\n\n\n\n
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What is a furnished apartment?<\/a><\/strong><\/p>\n\n

Furnished vs unfurnished price difference<\/a><\/strong><\/p>\n\n

What to include in tenancy agreements for furnished units\n<\/a><\/strong><\/p>\n\n

Benefits of renting furnished<\/a><\/strong><\/p>\n\n

Benefits of renting unfurnished<\/a><\/strong><\/p>\n\n

Should you rent furnished or unfurnished?<\/a><\/strong><\/p>\n\n<\/div>\n\n\n\n

What is a furnished unit?<\/h2>\n\n\n\n

A furnished apartment has enough of the essential pieces and furnishings inside for people to live there comfortably without moving in their own furniture. For example, a furnished bedroom would likely come with a bed, mattress, and perhaps a dresser and a nightstand \u2014 at the very least. <\/p>\n\n\n\n

Many furnished units you can find on various rental platforms are from subletters, or suites within someone’s primary residence. However, many landlords rent their units furnished as well as a means of increasing the profitability of their rental property. Generally, furnished units attract people moving to the city for the first time, new renters, students, and newcomers to Canada.<\/p>\n\n\n\n

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Read more:<\/b> Furnished or Unfurnished? \u2013 Renter\u2019s Perspective<\/a><\/p>\n<\/div>\n\n\n\n

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Furnished vs. unfurnished price difference<\/h2>\n\n\n\n

Every rental market is different, and it’s important to check the price difference between furnished and unfurnished rentals in your area when deciding whether or not to furnish your unit. <\/p>\n\n\n\n

At liv.rent, we publish monthly rent reports<\/a> in Vancouver, Toronto, and Montreal. For June 2022 in Vancouver<\/a>, a furnished one-bedroom went for an average of just $26 more than an unfurnished one per month. With this minuscule price difference, it’s up to landlords whether or not they wish to furnish their unit. Still, there are plenty of other benefits to renting your unit furnished as you’ll see below.<\/p>\n\n\n\n

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Toronto in June 2022<\/a> was a similar story, with a price difference of $37 more for a furnished unit; meaning that it might be a good idea to forego furnishing your unit unless you either already have the furniture, or want to take advantage of some of the other benefits of renting your unit furnished.<\/p>\n\n\n\n

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What to include in tenancy agreements for furnished units<\/h2>\n\n\n\n

If you decide to rent out a furnished suite, you may want to make some amendments to your standard lease agreement<\/a>. These amendments will serve to protect your additional investments in the furnishings and fixtures you put in the suite and guarantee your peace of mind later on.<\/p>\n\n\n\n

For example, you could insert a rule that all the furniture is to remain indoors and away from heating and ventilation systems, to protect from unlikely but unwelcome incidents. <\/p>\n\n\n\n

It’s also a good idea to include a list of the pieces of furniture in the unit and their condition. Then, you can set the expectation that everything remains in tip-top shape. That way, a tenant may be liable for excessive wear and tear or damage to furniture. You could also stipulate that they report back any damage, for example, if a table leg breaks, they have to let you know rather than throwing out the table without telling you. <\/p>\n\n\n\n

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Benefits of renting a furnished unit<\/h2>\n\n\n\n