LETTING & ESTATE AGENT

Should Landlord's Furnish?

Should Landlord's Furnish?

Occasionally a news article captures the attention. Letting Agent Today recently ran a headline "Furnished Properties Produce 35% more rent". This was one such article.

Digging deeper it seems this is reported from a competitor survey, and amongst the localities quoted as attaching the largest premium was nearby Brentwood (27% differential).

The article is thought provoking since we do not perceive particular preiums for furnishing Harlow properties. Indeed we often have request to "unfurnish" where furnishings have previously been provided, especially for longer term tenants who want to apply their own "stamp" on  property.

Landlords should be aware of the implications for Council Tax, whih can vary according to Local Authority Area, and the impact on income tax (10% wear and tear allowance/deduction) for furnished property. HMRC website provides greater detail on this topic.

Landlords are are advised to consider the probable tenant type for their property before making the final judgment. Call any of the team on 01279 705000 or Neale Coules-Miller directly on 07771 888551 if you wish to discuss your specific circumstances.