If you have a luxury property that you want to rent out, furnishing it with contemporary sofas, chairs, tables and accessories can help to ensure a quick let and could even allow you to charge more for your property.
The majority of tenants looking at high-end properties want cool, statement furniture, that’s minimalist enough for them to be able to put their own stamp on the property, but comfortable enough for them to feel at home.
We chatted to Marc von Grundherr, who’s Residential Lettings Director at London lettings agency Benham & Reeves to get his views on the best furniture for luxury lets.
He’s convinced that the furniture you choose can have a huge impact on the speed with which your property will be snapped up by tenants.
“Quality contemporary furnishings are a pre-requisite for letting high-end rental properties. The letting market is extremely competitive with increased supply, particularly in new developments, and more cost-conscious tenants,” he says.
“As a general rule, unfurnished properties take up to 30% longer to let and in some instances we have seen rent reductions of as much as 40% just to secure a tenant because a property has not been presented in good enough condition to meet the tenants’ expectations.”
Don’t put youself in this position – make sure you have the whole property furnished in a co-ordinating contemporary way – not forgetting the sofa, dining table, dining chairs, beds, and smaller items like lamps and even art work.
Marc says that for a high end property to stand a chance of being let quickly at full market rental then it needs to be furnished to a high standard. “If the property is in a block with others coming on stream at the same time, the furnishings must really stand out from the crowd – this may not get you an increased rental but it will attract a tenant more quickly. Some Landlords make the mistake of going for cheap budget furniture packages but we really would recommend that they do their homework and use a company that specialises in furnishing rental properties. Anything not well furnished will simply not let or will receive substantially reduced offers.”
So there you have it, an expert in the residential lettings field recommending that you don’t try to pull the wool over potential tenants’ eyes by buying cheap furniture – they’ll see straight through it.
At Danetti, much of our furniture is sourced from Europe and quality and design are our priorities when choosing pieces, so prospective tenants are sure to be impressed.
We pressed Marc to tell us which particular types of furniture are the most popular with tenants in the luxury rental market, and he told us that designer furniture is always popular. He also recommends adding a statement piece of furniture for the wow factor.
As for colour: “Neutral colours are still popular as a backdrop,” he says, while “dramatic and dark decor and furnishings are only really advisable is you’re looking for single male occupants” – the typical bachelor’s pad.
“Modular sofas are still fashionable and leather is always a good option as it’s hard wearing,” says Marc. And although the minimalist look is still popular, you have to be careful not to take that too far, because you want to create an interior that someone can instantly see themselves living in.Whether you’re interested in buying modular sofas, minimalist furniture, neutral colours, leather chairs, dining tables, or anything else for furnishing a high end rental property, we have the lot here at Danetti. And we can help you to pull together a co-ordinated luxurious look that won’t break your budget either. Just ask … —————————————————————————