Pay as you grow

Furnishing your property to a show flat standard is the best way to ensure it is let quickly. Investing in presentation will reduce void periods and therefore improve rental returns. It is therefore a simple investment decision. It's often the finishing touches that make the difference and make a property stand out from the crowd.

Do:

Do make sure you understand what will matter to your target market – will they require furnished or non-furnished accommodation? Students and young professionals are unlikely to own furniture so will require everything from cutlery, glassware and ironing boards. If you are investing in an off-plan development in Spain the target market are mainly holidaymakers – you will need to think about multiple sets of linen, a television and stereo.

Do take time planning the spending and try to stick to this plan, as it’s so easy to go over budget!

Do furnish as sparsely as possible and avoid clutter. The fewer items you have in the property, the less there is to ship out and store if your tenant does not want it. If your property is empty it is worth considering keeping it that way until you have your first tenant. This means you can meet any requirements they have before you start spending your money.

Do provide the essentials for a furnished flat. The key items are beds, a sofa, wardrobe, chests of drawers, chairs and table. Washing machine, oven and fridge are fundamental in the kitchen.

Do use mirrors and bright, neutral furnishings to give the illusion of space and to bring light into a dark room. You may want to consider mirrors on the wall as opposed to pictures. Seeing their reflection as they look round will help potential tenants to picture themselves in the property.

Do use select items like lamps, rugs, scatter cushions and bed spreads as a finishing touch to jazz up a property to show it off to its best effect to potential tenants. They don’t have to stay there - you can take them away and use on another property in the future.

Do find out what choices you can make in the development stage. Buy to let properties from new developments usually come with bathrooms, kitchens, carpets and wall colours already chosen and fitted. More often than not the carpets will be the same neutral shade of biscuit or beige throughout and walls will be plain, light emulsion. It is good practice to keep things simple and should you get the choice, follow the same principle. It’s worth using the same brands of paint throughout, that way you can touch up a wall and know the shade will match the rest. 

Don’t:

Don’t over personalise the furnishing of a property – this is one of the biggest mistakes made by investors. Remember that this is a business venture and not a chance to test your creative skills as an interior designer!

Don’t use anything too fussy or trendy; potential tenants respond best to simple, plain furnishings – it gives the impression of a blank canvas that they can make their own. Similarly a fashionable look can become dated very quickly.

Don’t spend vast amounts on furniture and fixtures as they may get broken or become tarnished. But likewise don’t use cheap poor quality items that will just need replacing more often.

Don’t be fooled by fixtures that can be bought cheaper overseas. You may be able to save money by buying abroad, but connection fittings can differ between countries, so check the compatibility of plumbing and light fittings before paying out.

Don’t try to save money by using second hand furniture or cast-offs. This may contravene with the Furniture and Furnishings regulations.

Don’t underestimate the power of first impressions. The hallway is the first room that a potential tenant will see, so make sure it’s bright, inviting and clutter-free.

Don’t make your property stand out for the wrong reasons! Since agents will show prospective tenants a whole range of properties, it is important to make your property stand out from the crowd. But don’t do this with loud colours and patterns – a clean, simple, bright space with comfortable, well-fitted furniture is what your property should be remembered for!

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