Here in this blog, we will introduce to look at the benefits to furnishing student housing.
1. Comfort pulls in residents and increases inhabitance
- Students generally don’t own furniture and don’t want to spend money on buying furniture for their temporary apartment.
- Moving furniture in and out of the house several times is also exhausting for the students.
- Furnishing an apartment with a roommate can cause conflict over the decision that, who is going to bear the cost of the furnishing done in the common areas.
- It is difficult for the students to store furniture during the summer holidays when they vacate the apartment to stay with their family.
- Furnished apartments help the student to avoid inconvenience and a good option for students looking for temporary housing.
2. Comfort and style draw in occupants and increases inhabitance.
- When the student furnishes the apartment by their own, then they usually bound to cheap options that fit in their budgets.
- Affordable options include furniture out of parent’s storage units, from garage sales, furniture from off street corner, etc. when the item is set free in the wind.
- This furniture’s do not create a modern and visually attractive living environment for the students.
- Comfortable, stylish, and functional furniture is a good option for the student as other alternatives will be embarrassing for them.
3. High interest and limited student housing accessibility for furnished apartments can increase rental rates.
- The demand for furnished student housing exists because of the benefits and convenience it has.
- There are limited furnished housing options in the market.
- Rent of the properties can be increased if there is competition in the market or waiting list for units is there in any complex.
4. Furnishing apartments reduce maintenance costs of wear and tear on the facilities.
- An apartment creates a risk of damage to the apartment structure from both inside and outside like damage in walls, paint can come out, carpet can be worn, door frames can be dinged up, bent in stair railing can come, etc by moving furniture in and out of the house.
- When the students move in and out annually, this disturbs the structural damage twice a year to a majority of the units.
- Furnishing helps the owner in deciding the size of the furniture entering the house.
- Professionalism can be maintained by furnishing the units for the movers who bring the furniture into the units.
- Control on the number of time the furniture enters and exits the units can be done.
- Decreasing move in and move out decreases the overall cost of repairs and replacements.
Furnishing rental property not only adds value to an investment property. However, when the investor has a narrow target market of temporary residents such as students, at that time furniture is an additional amenity that specifically meets the need of that market. Better meeting and preferences of your tenant will help to increase the potential occupancy of investor and will provide higher rental.