Long Term Furnished Rentals

[Leland Banner]

Opinions needed - I have been reluctant to take on clients wanting to rent out their home as a long term (12+ months) furnished rental. My fears are potential damage and (accidental) theft of owners property. I realize meticulous inventory will be required before and after each tenancy. I also understand their is a smaller market for long term furnished properties, thus longer vacancy period.

This is a million dollar plus home with an ocean view. My preliminary market analysis is the home should rent in the $4,500/mo range (unfurnished). In your opinion/experience, how much of a premium would you charge for a furnished rental?  

Thank you for you input!