Several considerations come into play when a tenant chooses to rent a home in Malaysia – location, budget, facilities, furniture, interior décor, maintenance requisite, and many more. One of the most important considerations tenants factor into the decision-making process is choosing between a furnished or unfurnished apartment. In the past, it was believed that furnished homes were a good choice only for tenants who don’t see themselves in the city for the long term. However, recent surveys in Malaysia has indicated a change in this pattern. Furnished homes are becoming a preferred option for both short and long-term tenants.
Benefits of offering a furnished home to tenants
It is no doubt that a furnished apartment attracts tenants. After all, this eliminates the hassles of setting up a complete home. It also saves tenants a huge upfront cost. On average, a furnished apartment in Malaysia commands a higher rent than its unfurnished counterparts. If you are looking to snap up high-end tenants be aware that furniture can be a deal-breaker. The appearance of your property impacts the type of tenant you will attract. It also impacts occupancy rates and the value of rental income. Here are 3 reasons why you will find a high-end tenant by furnishing your rental property –
● Corporate tenants seek a full package with furniture and other accessories. Being globally mobile, corporate tenants expect property owners to provide ready-to-go living spaces.
● A fully equipped property will save tenants time and money. Sourcing appropriate furniture for medium- and long-term stays is important.
● Tenants usually expect the furniture to be reflective of the rental value. Therefore, an increased rental income can be achieved with quality and elegant furnishings.
How to use the furniture of your property as a marketing tool?
It is indisputable that renting out a furnished apartment can help you maximize your earnings. But it is extremely important that you strategically plan the furniture and decoration of your apartment to ensure that the ‘furnished’ tag actually serves as a tenant magnet. A carefully designed interior layout will halve the effort of finding a good tenant. You can tailor the home staging to the lifestyle and tastes of your target tenant. This way you can transform the space and marketability of the property. Here’s a detailed guide of tips, tricks, and considerations that will help you leverage the interiors of your apartment as a marketing tool –
1. Ensure simplified property maintenance for tenants
Furnishing can reduce property maintenance for both the landlord and the tenant. Furniture installation and removal can cause cosmetic wear and tear and even structural damages. Furnishing your rental property allows you to keep an accurate inventory. Further, it makes it easier to avoid the accumulation of clutter left by the previous tenants. Being a landlord means being responsible for maintaining and replacing items. Therefore, it is smart to invest in high-quality classic pieces that work well in the allotted space.
2. Pick Pre-Designed Furniture
In order to achieve consistency throughout the property, you should consider investing in furniture packs which will save you time on choosing individual pieces of furniture. This means that you can easily refurbish a property between tenants or with minimal disruption to current tenants. Pre-designed furniture packs also allow you to set the tone of your property. Investing in the more sophisticated packages allows you to demand a higher rent from your tenants and attract more responsible clients.
3. Replace old Fixtures
Over time the fixtures in your property can become worn with use. Nothing dampens your tenant’s impression of the property more than a slightly worn-out piece of furniture. Pay attention to detail and replace any old or worn-out fixtures. This will make your property look new and untouched. Indeed, small changes can make a big difference.
4. Choose Pet-Friendly Furniture
It is heartening to see that the number of pet lovers has seen a great rise in Malaysia. 1 out of 3 potential tenants you meet is likely to own a pet. There is every reason that you must choose pet-friendly furniture. Leather is a luxurious and equally sensible option for pet-friendly furniture. When choosing your furniture, you should also consider non-wooden legs – such as metal or acrylic, which have a much lesser chance of being chewed up.
5. Invest in fabrics that are easy to clean
A clean fabric makes any furniture piece look new. To make sure you choose a furniture piece that will last as long as possible, carefully read the description of its material. Look for words like stain-resistant and/or high-performance fabric to ensure easy-to-clean upholstery.
Decoration tips to win your tenants
While furniture is certainly the more visible aspect of an apartment you are looking to rent, do not underestimate the power of decoration. We have listed down 5 quick decoration tips that make your potential tenants instantly fall in love with your space.
1. The first impression does a lot for potential renters. Ensure that the entrance of the house is tidy and if possible attractive. If your space has a garden, cleaning and trimming are extremely essential.
2. Choose to paint your walls wisely. When painting, experts recommend going for neutral colors like beige or white and accent it with a darker color like brown or grey. Revive the old walls by throwing some new color on them and make your space look lively instantly.
3. Your kitchen is literally the heart of your home. Ensure that the kitchen furniture and accessories are well arranged and clean. It takes just a tad bit of effort to make the kitchen look welcoming.
4. The bathroom is also an important part of the decision of renters. If it looks outdated, dirty, and unmaintained, it can chase your renters away. Moreover, stains on your tile grout can also discourage renters. Always check the floors if the grout needs cleaning. Replace old shower curtains and bathmats, as well. Aside from that, make sure to fix leaking pipes, if there are any. No one wants to deal with a damp bathroom floor.
5. Without a doubt, lights transform the look and appeal of your space. Ensure that the house is well lit. As most tenants prefer a house with adequate sunlight, ensure to consider the natural light as you design the house.
So, what’s the most cost-effective strategy to woo Tenants?
Indeed, wooing a tenant to rent your space at a good price can require a lot of patience, time, and effort. As the property owner, your budget and cost considerations are also extremely important. After all, you can’t burn a hole in your pocket to satisfy tenants. Extensive research has shown that rental furniture packages hit the nail and enable you to satisfy all the above tips ensuring you don’t spend too much time, effort, or money. SPEEDRENO is one of the top furniture rental providers in Malaysia and when it comes to maximizing your return on investment, they’ve got it just right. The quality of furniture provided is par excellence and every piece is trendy and aesthetically pleasing. The vendor manages everything end to end – delivery to installation and you pay only for the furniture you rent. Since all the furniture is rented you can choose to replace all of it with just a single click.
With more and more tenants look renting furnished homes in Malaysia, the furnishings can make or break the deal with a potential tenant. A smart owner should invest in the right furniture and décor and strategically use these as marketing tools. The most popular and cost-effective strategy for owners is to go for a rental furniture package. This eliminates the time, effort, and cost hassles. It also ensures that you earn more from your property. If you still have trouble finding a tenant, check out SPEEDHOME!