Small studio: furnish or not?
First-time real estate investor and landlord here.
I bought a small studio (less than 500 sq ft) in downtown. The HOA requires minimal 12-month leasing term. The unit has a built-in Murphy bed and all appliances. I have a gut feeling that prospective tenants who want to live in a small studio usually have no furniture. Would you share your experience if you own a small studio? If you furnish it, do you buy or lease furniture?
Why am I asking: it has been one month since I posted the rental property to Zillow, Craigslist and social networks with a reasonable price below Zillow’s estimate. However, I only received 5 inquiries and never heard back from them. The picture on Zillow is staged (from the previous owner) but I told them it’s unfurnished.