All Forum Posts by: Tim Touchette

I would say it partially depends on the market. I would focus on 1bds and studios primarily with a mix of 2bd/2ba and 3bd/2ba.  Washer and dryers in each unit.  Private outdoor space really helps.  They're not all that different than developing regular condos, but there is less of an emphasis on closet space and storage.

The furnished monthly rental of houses and condos works well in various parts of Washington DC.  We manage a little more than 250 of these units here.  We're working with developers to create properties exactly for this model.

Kimberly Smith owns and runs Avenue West and they specialize in furnished corporate rentals in Colorado.  I would guess they are the largest provider in CO. 

http://www.avenuewest.com/

Sometimes the numbers work if you furnish it and rent those properties out to companies. My company, Attache Corporate Housing, specializes in this for property owners, but even sometimes based on the condo fee and how much is put down, the numbers don't add up.

To maximize furnished rentals, there are a few factors to consider. Our guests (tenants) are very location specific...since it's not their money, they will choose location over several factors and will usually not venture into neighborhoods they're not familiar with or one that is not close to their work. Also since utilities are included and closet space is not very important, smaller properties tend to make great furnished options. More to come...

Thanks for all the feedback, and Tanya, thanks for your business (I also heard you're making it to our company happy hour on Monday). I would be happy to discuss the pros and cons of furnished versus unfurnished rentals on this forum.

I own a handful of furnished rentals and manage almost 200 furnished properties in Washington DC. I look forward to sharing ideas on this message board.

I've used them with mixed results. I was not aware of their guarantee. Price it really high and see if they honor your rate after 30-days.

This is what we do in Washington DC with property owners' houses and condos and would be happy to provide any tips you may need. I own a few furnished properties as well.