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Updated almost 4 years ago,
House Hackers: Do you provide your tenants furniture?
I am in the process of closing on my first 4 bed, 4 bath house-hack. I will make two rooms available for 2 tenants in March. I am targeting graduate/ professional school students since the city I am investing in has several universities and since I will be going to law school in the fall. Given I'm targeting students, I realize many will not have furniture. I'm heavily considering providing the option to furnish the rooms with a full-size mattress base, mattress, desk, and chair (at my choosing) with an extra $75/ month on top of the base rent. My thought is that the furniture could provide additional cash flow, given I purchase durable furniture that can last a few tenant turnovers. I think this would also potentially make my units more attractive to potential tenants. Just off my personal experience when in school and from research, students and some young pros are more likely to pay a higher premium for furnished units. I have a few questions.
1) Is this a smart investment?
2) For those who do supply furniture to tenants, do you have a go-to supplier to get bulk furniture orders?
3) Is $75 extra a month too low? Too high?