Issue with furnished big old house for family

Issue with furnished big old house for family

Member since 2021 · 36 posts · 2 votes

Hi, I have a fully furnished old 5b2b rental property. I am finding it very challenging to rent the whole house given it's furnished. I spend about 20k furnishing this place. Property managers do want the business so they don't say no to this house. But when I sign contract, they start listing, it sits there with barely any showing. I noticed this because I had this house listed twice by two different companies over the last few years. I had to change the business model and rent furnished place to students myself. It became too much to handle so I want to rent to family again. I am not sure what to do with these furnitures. My family is abroad and plan to be here in few years. I was hoping to transfer those furnitures when I can buy a house for my family when they come. It also sounds very expensive to disassemble all these 20+ furnitures. I live out of state so can't do it myself. I have some relatives near the rental but it's too much to disassemble. And frankly where would I put these especially 5 mattresses. I considered storage at relative's place but apparently that became a bit touchy subject. I don't have any storage other than the basement of this rental. But that's accessible by tenant and I don't think it will be secured. I can't lock the basement door because there is main circuit board and in unit washer dryer. So I am simply stuck with these furnitures. I am losing potential rent that I need to pay mortgage given family don't usually want furnished house. And I don't feel comfortable losing all these furnitures. And selling them on marketplace is way too much for me given I am almost thousands of miles away from the house. It's hard to find management company who will remove these furnitures and compensate me for the price. I don't know what to do. Can you please suggest.

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  • Chris SeveneyBusiness Member
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    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    4y
    Quote from @Mahmuda L.:

    Hi, I have a fully furnished old 5b2b rental property. I am finding it very challenging to rent the whole house given it's furnished. I spend about 20k furnishing this place. Property managers do want the business so they don't say no to this house. But when I sign contract, they start listing, it sits there with barely any showing. I noticed this because I had this house listed twice by two different companies over the last few years. I had to change the business model and rent furnished place to students myself. It became too much to handle so I want to rent to family again. I am not sure what to do with these furnitures. My family is abroad and plan to be here in few years. I was hoping to transfer those furnitures when I can buy a house for my family when they come. It also sounds very expensive to disassemble all these 20+ furnitures. I live out of state so can't do it myself. I have some relatives near the rental but it's too much to disassemble. And frankly where would I put these especially 5 mattresses. I considered storage at relative's place but apparently that became a bit touchy subject. I don't have any storage other than the basement of this rental. But that's accessible by tenant and I don't think it will be secured. I can't lock the basement door because there is main circuit board and in unit washer dryer. So I am simply stuck with these furnitures. I am losing potential rent that I need to pay mortgage given family don't usually want furnished house. And I don't feel comfortable losing all these furnitures. And selling them on marketplace is way too much for me given I am almost thousands of miles away from the house. It's hard to find management company who will remove these furnitures and compensate me for the price. I don't know what to do. Can you please suggest.

    Hire an auction company and sell the furniture. you will get pennies on the dollar for it but its better than nothing.
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