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Should you furnish your investment property?

Should you furnish your investment property?
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Lisa Indge - Let's Rent

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Short term fully furnished rentals are a really interesting sector of the market right now. Lots of people are getting very interested because the returns look to be quite high which can be the case however there are some pitfalls. It's really important that if you're looking to rent your property short term that you're not looking to rent too far from the city or too far away from amentities. The properties that are best suited to this type of market are close to the city, have views, usually are smaller - say one or two bedrooms. It's true to say that the short term market really is anything up to three months and the returns vary considerably depending on whether you're doing say one or two nights or three months. So you would expect to acheive a higher nightly rate on a shorter rental and a lower weekly rate on a longer term rental.

 

 

Listen to other instalments of The Smart Property Investment Show:
Episode 66: Wealth distribution: how should you manage your money?
Episode 65: Real estate agents: what separates the good from the bad?
Episode 64: How this investor learned from a property blunder
Episode 63: Q&A session: the SPI team answers your questions
Episode 62: Property procrastination: the importance of finding help
Episode 61: The ins and outs of strata: what buyers should consider
Episode 60: The pros of using a buyer's agent: why this investor brought someone in
Episode 59: How to invest in property as a team: two investors share their secrets
Episode 58: When do you stop investing? The SPI Show answers more listener questions
Episode 57: Wealth creation through property: trends and themes to think about in 2017
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