Furnished Or Unfurnished Rentals In Park City Property Management
The subject of renting furnished or unfurnished in Park City property management comes up fairly often when talking about long term rentals in Park City. Often times a property that was previously used as a vacation rental has undergone new ownership who would like to utilize the property in a different manner. Or a property owner finds themselves no longer able to use a property they had purchased as a vacation or second home and would like to generate some income off the investment.
So how do you determine whether you should rent a property furnished or not? There are a couple of key things to consider when making this decision that I think a property owner in Park City property management should consider. Let's a take a look at a few items I've compiled based on my experience.
- Your Intended Use Of The Property: What is your end game with this particular property? Do you want to utilize it periodically during the year? Are you looking to eventually retire here or have this property as a vacation home a few years down the road? I have one property owner who likes to come stay in Park City a few times a year in the spring and summer. We rent his property furnished during the winter as this is the peak time for rentals in Park City. It rents for a premium and he enjoys it the rest of the year. Consider what your plan is with the property when it comes to furnishings.
- The Condition of The Furniture: If the property you have just purchased has been a rental for some time, or if it was your vacation property and you threw a hodge-podge of items together to make it livable then perhaps you should consider removing the furniture. Damaged or mismatching items do not command a premium in Park City property management.
- Most Long Term Tenants Have Furniture: When renting a property you want to cast the widest net possible. That way you create the largest pool from which to pick a qualified applicant. It really is a numbers game in many ways. And experience has taught me that the majority of people looking for a long term rental in Park City have their own furniture. Sure they may lack an item or two but the generally do not want or need another person's furniture.
These are just some of the things you should consider when dealing with a furnished property in Park City property management. But as a general rule of thumb if you want to rent seasonally then keep it furnished. If you want to rent long term then get rid of the furniture. In Park City a seasonal tenant will most likely need furniture as they may just be here for the ski season while a long term tenant is someone moving to the area more or less permanently and will bring their own items with you. This does not mean you must get rid of your furniture if you rent long term. But again it you are trying to cast the widest net possible don't limit yourself to a long term tenant who needs furniture.
If you would like more information on rental management, or further information about Park City property management in general click the link below for a free consultation. You will receive valuable information specific to your property that will help you make an informed decision. You will also receive a free, no-obligation quote on our property management services. At CC Realty we specialize in making investment property ownership a trouble free experience. Please contact us today for your free consultation.
