We are looking to make our 3rd purchase of a nightly rental. We are looking at a 3 bedroom/2 bath condo. The price of the condo unfurnished is 209,950 and the price furnished is 239,950. We think that 30,000 is a bit excessive. Any thoughts?
Seems a bit excessive and maybe the furniture cost that much but who knows.
For your purpose you might not want to spend $30k on furnishings as it might not be a great way to spend that money. I’m sure $5k would work and your return would be better on that then $30k.
I’ve heard of people renting furniture for short term rentals too.
@Chantel Smith Way too much! We can buy lightly used furniture from a furniture rental place or a home stager for 10k to furnish a house that size. Those are great places to start because alot of the furniture places have already made all their money back on the furniture and normally the furniture is used for short term events or home staging. I would try to negotiate that way down just like everything else.
$239,950 is only a asking price. Offer $215,00 if you believe the property is worth that amount furnished and walk away.
A sellers asking price is irrelevant, the only number that matters is how much you are willing to pay. It may not even be worth $209,000 fully furnished. What you offer is not based on the ask price.
I might add that they are marketing it as “new construction” although it was completed and has been a nightly rental since March of 2017 so we don’t feel the furniture is new anymore