A rental property is something of an asset, but that doesn't mean you don't need to market it well in order to sell it to a potential guest. Rental properties require homey touches and furniture that is comfortable for guests, and this should be well-photographed for your CuddlyNest listing.
Some property owners and managers have tons of cash to throw around in order to make their rental homes look fantastic, while others have a much more limited budget. No matter how much capital you have right now to invest in furnishings for your rental property, we have tips that will work for you.
Price Points
There's a common misconception in the world of rental properties. "The quality of your furnishings within your rental property will help you dictate your rental price points." This follows with lines of thought like "Have secondhand, low-quality furniture? Your rental prices should be lower." High-end furniture denotes a higher-end experience, and then your price should be higher."
On its face this is logical. You don't want to buy thousands of dollars worth of furniture from high-end designers for a small, mid-quality short-term rental. The finances don’t add up. However, it is important that you buy as quality as is reasonable. Renters want luxury that they can afford, and successful property owners and managers find ways to give it to them.
As an added note, try to plan out a certain design scheme for the overall home or each room before you go shopping. This makes it easier to ensure you get as many items as you need and they all complement each other cohesively. If possible, write down specific designers you’re looking for, not just vague themes or design styles.
Where to Look?
Your first goal should be to find as expensive of furniture as possible at the cheapest possible price. This often means straying away from the source seller and getting a little creative:
Your first stop should always be Craig's List. Gently used furniture there goes at pretty cheap prices because most sellers are looking to move items quickly. These great deals often come with a few cons, however. You'll typically need to be able to haul the item yourself, and it’s important you think wisely about any deals so you avoid major scams.
As a bonus tip, try to search Craig's Lists in high-end areas. It stands to reason they’d be getting rid of the good stuff!
It may also be worth it to check out certain outlet venues that offer high-end merchandise at discounted prices because it's overstock, sample, or a floor model. Be wary -- many outlets aren’t true discount dealers. Do your research on the actual retail price before purchasing. Consignment shops are also a good idea, as they typically take in furniture of a certain high standard with the intention of selling it at a discounted price.
Estate sales are also a good bet for great deals. They make markup their prices slightly, but they can also be a good place to find items that mesh cohesively. It's also possible to buy items in a lot, conveniently allowing a buyer to purchase items at a reduced, packaged price.
Finally, don’t count out eBay. The best thing about this online auction house? It’s got a ton of stuff; essentially anything you want exists on eBay. The only con is that some items do come with a heftier price tag.
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