For Landlords

Fully Furnishing: Do-It-Yourself (DIY) or Renovation Package?

Having a furnished rental can be a win-win for both the landlord and the renter. Think about it. Moving furniture is inconvenient for tenants and may not be an option, particularly for students and expats. On the other hand, with useful furniture or even simple cosmetic ones, the landlord can charge a higher rent and earn at least 10 – 30% more. 

But fully furnishing an apartment takes a lot more effort than you might think, especially if you’re assuming that the developer’s fully furnished package will be move-in ready. If you’re not prepared to properly furnish your unit, any delays will be months of missed rent that you could’ve been making. 

So let’s consider a few things first.

Your Target Tenant

The value of each item is also influenced by a household’s income level. Because you are renting out the property, you are unlikely to know the possible tenant’s decor taste or income level. This means buying high-end furniture will be a big risk for you, because a house with a high rent isn’t going to appeal to the average person. Unless, of course, you’re aiming for high-end and luxury tenants.

Let’s assume, for the rest of this article, that you’re appealing to regular, mid-ranged tenants who need strictly practical and long-lasting furniture. How can you maximise your return on investment and stay on budget?

The Range of What You’re Paying For

The cost factors to consider when furnishing an apartment includes the furniture footprint, the quality and materials, and the inclusion of appliances.

To determine your furniture footprint, the first step is to split the apartment into different functional areas – generally the living room, dining room, bedroom and home office area. These four core areas serve the basic functions of a home. As a summary, the table below shows the range of cost of furnishing an apartment from a studio unit to a three-bedroom home.

For example, a one-bedroom apartment typically includes a living room, a dining area for two to four people, a bedroom and a small home office. With this, you can come up with a range estimating the cost of furnishing.

Apartment TypesCost Range (RM)Included Functional Areas
Studio ApartmentRM12’000 – RM20’000A studio apartment typically can have a living area, a bedroom and a dining area or workspace. There is usually a kitchen or small dining area that fits a table and two chairs.
One-Bedroom ApartmentRM15’000 – RM22’000A one-bedroom apartment often is for one person or a couple. It typically Includes a living room, dining room for two, a bedroom, and a small workstation.
Two-Bedroom ApartmentRM20’000 – RM30’000A typical two-bedroom apartment is usually used by a couple, a young family or two roommates. It typically includes a living room, dining room for four, master bedroom, home office / guest bedroom.

However, most renovation packages from third parties aren’t made for landlords— they’re made for homeowners who would want to spend the best money for their dream interior. For the purposes of your investment, it might not be the perfect fit.

Maybe it’s better to do it yourself?

Spending More Than Money– Costing You Time

Even beyond the monetary cost of all the furniture, you will have to spend your precious time as a landlord to contact the companies, arrange the deliveries, wait for them to arrive one by one, take out the boxes and assemble them yourself. If you’re familiar or strong enough for DIY work, this can be particularly difficult and time-consuming.

All of these tasks not only eat into your valuable time but also need a fair deal of patience and organisational skills. There’s unavoidable problems whether you order from a showroom or order online. You need to be ready to make numerous calls, emails, and perhaps even some back-and-forth returns and exchanges if the quality of the delivered items isn’t up to standard. 

A Package Made by Landlords, For Landlords

By combining market knowledge with practical, modular furniture and price tag suitable for your ROI is a renovation package specifically designed for landlords. Everything you need without the bloated renovation of third party packages, while making sure furniture is sourced for quality and delivered within the week. The furniture is also researched for your tenant target market.

SPEEDRENO’s fully furnished renovation package is customisable and available for all bedroom unit types, from studio to three bedroom apartments. We keep prices affordable by sourcing and delivering straight from manufacturers, with no showroom costs and no personal assembly required.

1 Bedroom UnitRM4739
2 Bedroom UnitRM8879
3 Bedroom UnitRM11,369

Learn more about maximising your ROI with our free webinar.

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