Furnished Rentals - Good or Bad Idea?

Question

My job is taking me to Houston, TX and I want to use my VA Loan to house hack while I'm there. Do I need to furnish the house to attract renters? I'm looking at getting at minimum a 4 bedroom house and will rent 3 of the rooms individually to young professionals.

Thanks!

Patricia Steiner · Answer

Lesson learned...don't furnish it.  One of my clients purchased a nice condo that was newly furnished - and I asked for the furniture to be included in the sale. The seller agreed. It was just less headache and ensured that no damage was done to the unit in moving it.  So, all is well, we close, the buyer is happy with this great condo and the "free" new furnishings.  Tenants line up to rent it and then it starts:  one prospective tenant wants part of the furniture to stay and the other moved; another wanted us to remove the never used new mattress from the bed so she could bring hers in (now we have a storage issue?).  Still another said "it's perfect, I'll take it" and even agreed to higher rent to have it just "perfect." Then reality sets in...as she is moving in.  She has no place to store her furniture. Now she's cramming furniture into an already furnished...blah, blah, blah.

Save yourself!  Don't furnish it.

Robert Ombres · Answer

Unless it's a niche unit or population you're wanting to rent to, don't furnish it.

Awesome to hear you're using your VA benefits to do this! Have you pulled the trigger yet?