Looking for advice from the knowledable investment community here, as this is my first (investment) property.
Purchased a fully refurbed, three bed apartment (higher end property) on the Gold Cost as a place to retire to in three or so years. Need to get it furnished and start renting it out.
Just a few questions:
Has anyone used the companies that come in and set it all up themselves (furniture, decor items,kitcheware etc) Any recomendations?
If you have what was the quality of the furniture like?
Short term holiday rental v long term rental. Is the extra returns worth the headaches?
Has anyone used companies like MadeComfy to manage their property?
They have quoted on 42%-45% occupancy, does this seem to be about right?
Thanks for your answers.
Fit out for a Three Bed Investment Apartment and General Advice
madreece on 31/07/2022 - 09:57
Last edited 31/07/2022 - 09:58
Last edited 31/07/2022 - 09:58
Comments
Agree. Long term lease unfurnished.
You might get decent return with short term rentals but risk of damage is significantly higher.
Leave it unfurnished for long term rental.
Or you'll be on the hook for maintenance and provision of replacement furnishings whenever something goes wrong in which for someone in Melbourne like yourself is not ideal.
Where abous on the coast
Surfers Paradise
Only furnish for short term rental
In your position, I would not furnish it. I would rent out for the three years, then move in with my furniture.
I would suggest it's better, much better, to have one good tenant than 50 randoms……
That said, there may well be some nice tax benefits to furnish then rent out furnished. But of course, some minor wear and tear is to be expected during the tenancy.