Renting your UK home: Furnished or not?

[steen1976]

Anyone got any experiences of this?

 

Got a house here we will have to rent out if we head over and initially thought to let it furnished. We may come home etc etc

 

However it's a four bed and I feel more than likely it would be families looking to rent it and most will have their own furniture?

 

Anyone any experience of trying to rent furnished and changed to unforunished etc? Any opinions appreciated!

[Guest guest33730]

Whether to furnish is always a dilemma. My advice would be to ask a couple of local agents for their opinions as each area has it's own factors. There are a couple of considerations that are general though.

 

Firstly Council tax - if you think your property may sit unoccupied for any length of time then unfurnished is the better option as you can apply for empty property relief.

 

income tax - If you rent your property furnished you can get 10% of your rent tax free for wear and tear.

 

removal costs - obviously if you leave your property furnished it will cut down on removal expenses

 

Rent - generally if the property is furnished you will get a higher rent but possibly by not enough to make it worth it.

 

Hope that helps

 

Daniel

Owner LET-it

[steen1976]

Nice one Daniel, thanks.

 

I think in this area there are more folk looking for unfurnished but that's just an opinion. Will be inviting 2-3 of the local agents around to quote before christmas so will of course get a better idea then.

 

The other factor is that we will have to furnish a place out there and looking at the costs of replacing items it will work out cheaper to ship. And we'll have better quality stuff that we are fond of from home.

[Shaz36]

Hi Steen1976,

We had a few quotes for furnished and unfurnished rental prices and the difference was only £50 per month. After thinking about it, we have decided that if we have to rent out, we will go unfurnished, as I've seen properties here recently go for the higher price quoted but being unfurnished, plus, if its furnished and things are damaged, you'll be responsible for replacing them. I'd rather take my decent furniture than leave it here for someone to wreck and then have to buy new for them. It seems more cost effective for us to take our furniture than buy all new when there.

 

The empty property relief that Daniel mentions sounds like it may come in useful too.

 

Shaz

[steen1976]

Hi Steen1976,

We had a few quotes for furnished and unfurnished rental prices and the difference was only £50 per month. After thinking about it, we have decided that if we have to rent out, we will go unfurnished, as I've seen properties here recently go for the higher price quoted but being unfurnished, plus, if its furnished and things are damaged, you'll be responsible for replacing them. I'd rather take my decent furniture than leave it here for someone to wreck and then have to buy new for them. It seems more cost effective for us to take our furniture than buy all new when there.

 

The empty property relief that Daniel mentions sounds like it may come in useful too.

 

Shaz

 

Some of the stuff is Ikea from our first place and while nice is easily replacable. Other stuff is quite unique and we had to wait months for delivery so replacing that will be a total balls.

 

Need to speak to agents but I reckon I've made up my mind. :idea:

[Guest The Pom Queen]

I know you can claim some tax back if it is furnished.

However, if you rent the property furnished I suppose you would be liable to fix anything that broke etc.

Also you would be attracting people who were going in to their first home so probably young ones as they are the ones who wouldn't have furniture.

[Phoenix16]

I was advised by my letting agent not to furnish as there are requirements in ensuring it's all fire proofed etc but also that if its part of the agreement then you are liable to replace anything that breaks. I just felt it was going to get too complicated..