Turn my rental into a furnished apartment?

3 Replies

I purchased my first duplex just over 6 months ago, and my tenant's lease has ended (I started with a 6 month lease for a friend). 

Now that the tenant is gone and I'm just about to get married! (Yay!)  I will have more furniture from my fiancee. 

So my questions is- Should I try to rent out my unit as a furnished apartment? Is anyone doing this or have any experience or pitfalls I should know about? (Will the ROI be worth the extra effort)

Thanks All!

Personally I would avoid it based on my tenant experience in the past unless I was trying to get rid of excess furniture I couldn’t unload elsewhere. Have you researched the availability In your market and if any demand exists?

That's good advice, I will check closer into that! I was originally thinking for traveling nurses and such since I live near the hospital, but good to take a better look and see what's already in the market. 

Thanks Tim

Hi Saeed! At the apartment complex I worked at, we offered furnished apartments and often times when people moved out they had destroyed the furniture (we were located by a large state university and most of our tenants were students). As Tim said, I would look at your market and see if other rentals are offering furniture. If your rental is located near a hospital, it could be a good investment.