Furnished rental vs non Furnished rental

[Sam Dalton]

What are the pros and cons of having a Furnished Rental? Debating if I should or just go not furnished.

[James Carlson]

@Sam Dalton

The pros and cons are pretty straight forward. The pros are that you get more money for a furnished rental per month than a traditional unfurnished one. (Add in furnished medium-term rental, and you get even a bit more). The cons are it's more up front work and -- if you're doing medium-term -- possibly more work to get tenants.

About whether it would work for you or not ... If it's a bigger home more in the 'burbs, it doesn't seem like an ideal setup for a furnished rental. But if it's smaller and closer to the city or closer to a hospital, it might be a good candidate. We have a 1br condo in the Capitol Hill neighborhood of Denver. It's not necessarily right by a hospital (though there are two within a mile or two), but it is in the heart of things. So it does well as a furnished rental. In fact, I'd say the majority of tenants are not actually traveling nurses. They're in town for an internship or business or want a place for a few months to learn the city before buying.

We also have a home in Colorado Springs we recently bought. It's a mile east of downtown and really close to a college and two blocks from a hospital. We're living there now (and may again in the future), but we put the top and bottom (each 2/1 units) on Airbnb for 30+ day rentals just to test the market, and it has been getting some hits. 

Anyway, I wish you luck with it. Cheers!