Hello once again to our 4-part series on maximizing your profits with monthly furnished rentals. We introduced the series with the goal of helping landlords maximize their profits. We also explained what furnished rentals are and the different types of monthly rentals the average tenant can run into. In yesterday’s article, we discussed about the importance of pricing monthly rentals. Additionally, we tackled the financial cost of furnishing a property, and we revealed how leasing your property as a monthly furnished rental can recover these costs. You can access Part 1 of our series here and Part 2 of our series here.
Demand for urban rentals has risen. By December 2015, over 180,000 apartment units were completed in the US. During that same year, vacancy rates climbed to 4.4% from 2014’s 4.3%. A 0.1% increase in vacancy might not seem like a significant difference. However, this trend hints at the challenges landlords face as they try to make their properties profitable. If landlords don’t target the right tenants or price their properties well, they risk owning empty units.
The phrase ‘furnished rentals’ used to bring to mind dingy couches, lumpy beds, and the very dullest of kitchen knives. However, that’s no longer the case. Today, the sharing economy and the internet have revolutionized the rental market. As a result, furnished rentals these days can feel like home, and it's easy for a newcomer landlord or property manager to furnish his or her first rental.
The short-term rental market is growing, and we know landlords always look for convenient ways to generate income. That’s why HomeSuite helps landlords foster a more direct connection with their tenants. Having the ability to set your own price is invaluable, but it requires research to use that knowledge effectively. It also requires keeping your property in good shape. So what can you do to ensure your furnished property has the best rental value possible?
It's late at night. You just came home, feeling accomplished after impressing your colleagues and manager with your project. It was an awesome day, but you've spent more time than you expected at the office. So all you want to do now is change into your pajamas and watch The Grand Tour while eating a pint of ice cream.
Ah, the holidays! Tis the season for friends, family, and neighbors to appreciate all that we share. Whether we’re kicking back with colleagues or sipping some eggnog with our loved ones, what we all need is a time to unwind. The last thing we want is to be stressing about getting our furnished rentals ready for the holidays.
Hitting the road on a business or consulting trip can be a brilliant experience. However, you can totally crash and burn if you don’t prepare. You'll need to remember to pack light. You'll need to square away suitable lodgings, such as longer-term furnished rentals if you’re going to be away for a while. And then, to ensure all your business endeavors succeed and your boss loves you, you’ll need a proper laptop.
Congratulations! You got yourself a great job with an awesome company! Now all you need to do is to avoid losing your job.
You’re probably aware of this already, but working from home in your furnished rental unit has a ton of perks. It’s more comfortable, it’s healthier for you, there’s less stress, there's no commute, it’s environmentally friendly – the list goes on and on. We could publish an e-book with all of the benefits that working from home has, but with great perks come great challenges as well.