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Extra for Furnished home?

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Nirvana65 | 11 Nov 2014, 03:53 PM Agree 0
I have a fully furnished house in Hamilton that I’m about to put on the market as a rental. The rent is $950. How much more should I charge on top of that if the place stays furnished?
  • Landu | 11 Dec 2014, 04:02 PM Agree 0
    about $2000
  • Freedom Malhotra, Condo Planet | 12 Dec 2014, 09:44 PM Agree 0
    How much more should you charge for a fully furnished suite? This is not something fellow landlords can arbitrarily answer for you. Real estate is always neighbourhood specific. A fully furnished house in the mountains is going to demand more than one available in a run-down pocket of Hamilton. This applies not only to Hamilton but in any city.

    Pricing a property requires a deep understanding of your market. You have to research what is currently available that compares to your home and look at both furnished and unfurnished option. It is also important that you evaluate what is recently rented in your neighbourhood. Your Realtor should be able to help you gather all this market information.

    It is also important that you appreciate the supply and demand dynamics before pricing your property. If you are competing with 10 other homes for rent in your area and there is only one tenant renting such a home per month, you have to position yourself strategically so that your home gives the best value per dollar. You don't want to overprice yourself out of the market and that is why you need to think like a tenant and price accordingly.

  • sergerybrin | 19 Feb 2016, 11:49 PM Agree 0
    It depends what utilities you provide in furnished rooms. Mostly tenants want furnished but those furniture they require and demand for that..if the rent is $950 ,then you can rent on $1500-$2000 ..
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