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Furnished vs. Unfurnished Rentals, What is the Best Choice for Landlords?
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Podcast Episode Title:
"Furnished vs. Unfurnished Rentals, What is the Best Choice for Landlords??"
Summary:
One key decision landlords face is whether to offer a furnished or unfurnished rental. While a furnished unit can bring in higher rent, it also comes with increased costs and turnover. In this episode, we break down the pros and cons of each option, share real-world examples, and help you decide which approach makes the most financial sense for your investment strategy.
Timestamps:
[00:00:00] Introduction: Should you furnish your rental property or leave it unfurnished?
[00:04:30] The Investor Mindset: Why so many landlords consider furnishing their rental and the common mistakes they make.
[00:07:30] The Pros and Cons of Furnished Rentals: Higher rent potential, short-term tenant appeal, but also more turnover and maintenance.
[00:10:00] The Pros and Cons of Unfurnished Rentals: More stable income, lower maintenance, but potentially lower rent.
[00:12:00] Key Takeaways: How to analyze your market, crunch the numbers, and decide which rental strategy is best for your situation.
About Garret Wong
Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he’s grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion dollars in assets with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio.
Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system.
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