Monique Photo. Interiors. December 29th , 2017.
It is a home away from home since it has amenities that hotel rooms do not have like kitchen and dining area, furniture like a sofa bed, an office desk, and features which usual hotels offer like strong Wi-Fi connection, working area, and direct telephone lines.
Lastly, furnished apartments have a higher turnover rate influenced by different market forces including the weather and season, the holidays, currency exchange rates and others. That means that you will have your hands full looking for new tenants. Not every tenant is on the hunt for furnished properties as many have possessions that they wish to bring with them. Be aware that your target market with a furnished space may be considerably smaller. So if you want to start your own property investment, opting for furnished apartments is a smart choice.
Who knew apartments required good credit before giving you a lease? Many unsuspecting bad-credit-applicants have realized this fact the hard way. I know I did. Turns out apartments view a lease as a loan. If youre seeking a 12-month lease on an apartment thats $800 a month, youre essentially taking out a $9600 loan that you repay over a period of a year. If youre late, youll get a late fee. If youre too late, theyll repossess the apartment. So in that sense, I guess it is a loan.
Many people really prefer furnished apartments as they provide a few distinct advantages including better ROI and better tenants. But before you decide if a furnished apartment is the best investment decision to make, you have to be attuned to your target market, the demand for this type of rental apartment, as well as the location of your property as these are very important things to consider.
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