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To Furnish or not to Furnish that is the question ?

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  • 12-11-2013 7:27pm
    #1
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭


    Is there much demand from renters for unfurnished property ? would it be best to advertise my as unfurnished or unfurnished ? Could I command the same price ? Dublin area


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    #2
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    Ireland ain't The States or Australia. No real market here for unfurnished properties and there would definitely be a reduction in rent charged as a result.


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    #3
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    wirelessdude01 wrote: »
    Ireland ain't The States or Australia. No real market here for unfurnished properties and there would definitely be a reduction in rent charged as a result.


    I though that but wasnt sure. Have you rented out property or any experience ?


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    #4
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    handlemaster wrote: »
    I though that but wasnt sure. Have you rented out property or any experience ?

    Have rented unfurnished in both The States and Australia and as someone essentially passing through for a definite time period it was a pain in the backside.


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    #5
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    wirelessdude01 wrote: »
    Have rented unfurnished in both The States and Australia and as someone essentially passing through for a definite time period it was a pain in the backside.


    Yes but in Ireland ? Have you rented out your property ?


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    #6
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    handlemaster wrote: »
    Yes but in Ireland ? Have you rented out your property ?

    Not unfurnished.


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    #7
    whiteandlight
    Closed Accounts Posts: 2,359 ✭✭✭whiteandlight


    I'm pretty sure there is a growing market for unfurnished. I'm in semifurnished and love it. Many of my colleagues and family would have jumped at the chance to rent semi/fully unfurnished. We are saving for our own mortgage but have been able to start collecting bits and pieces towards a house, our own couch, bed table/chairs etc


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    #8
    loubeelou
    Registered Users Posts: 96 ✭✭loubeelou


    There are very few unfurnished properties out there and loads of people looking for unfurnished. From what i've seen, Same rent applies.
    Also, you won't have to worry about maintaining/replacing furniture.


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    #9
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 22,380 CMod ✭✭✭✭Pawwed Rig


    Stick it up as unfurnished. If you get response happy days, if not then you might need to buy furniture


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    #10
    cali_eire
    Registered Users Posts: 182 ✭✭cali_eire


    There is a growing market here for people wanting to rent unfurnished properties from my experience.


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    #11
    handlemaster
    Registered Users Posts: 6,003 ✭✭✭handlemaster


    I think I will put it up unfurnished with option to furnish if need be . Cover all sides


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    #12
    Mrs OBumble
    Registered Users Posts: 25,953 ✭✭✭✭Mrs OBumble


    IMHO you're likely to get a better quality of tenant if you rent unfurnished: able to afford their own stuff, aware of the value of stuff, and far less likely to do a runner on the rent if they need to take everything with them.


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    #13
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    why would an unfurnished property rent at the same price as a furnished property?

    oh forget this is ireland.


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    #14
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    Mrs OBumble wrote: »
    IMHO you're likely to get a better quality of tenant if you rent unfurnished: able to afford their own stuff, aware of the value of stuff, and far less likely to do a runner on the rent if they need to take everything with them.

    Any information to back up that opinion?


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    #15
    cali_eire
    Registered Users Posts: 182 ✭✭cali_eire


    It depends on the property but there are a few groups I am personally aware of that find renting an unfurnished property very attractive in Ireland.

    1. US Based Workers: US based high tech workers who are relocated here for assignment with the company's Irish operation for example will view furniture almost like clothing i.e. they want their own. These companies provide full relocation packages for their employees including moving their furniture. Depending on the length of their contract, they may opt to buy furniture here and relocate only some of their stuff.

    2. Longer Term Renters Who Would Have Bought In The Past: With many people sitting on the sidelines who would have bought a house in the past but who now either don't want to or cant because of the banks. These people may not want to live like students in to their 30's and 40's and as a result want furniture of their own choosing around them to give them some sense of "ownership", aesthetics, knowledge of the furniture's history and hygiene etc.

    3. Returning Emigrants: Contrary to the headlines I know of several sets of people moving back to Ireland in the last year. They were successful in there 15-20 years overseas, made their money, could never have come back during the Tiger years, but now are returning with families and furniture. Some bought houses right away, some rented because they wanted to give it a "test run" first. They rented unfurnished properties if they could find them.

    I dont like to use the word quality in comparing different sets of people and I have seen plenty of instances in life with dirt poor people having great respect for property and monied people having none so the fact the above sets of people would be generally more financially secure isn't necessarily an indicator that they will be "quality tenants" but it takes a bit more organizing "to do a runner" when you have to move a house full of furniture than if it's just your clothes so it provides a little more security to the LL in that respect.


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    #16
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    wirelessdude01 wrote: »
    Ireland ain't The States or Australia. No real market here for unfurnished properties and there would definitely be a reduction in rent charged as a result.

    Any information to back up that opinion?


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    #17
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    who_ru wrote: »
    why would an unfurnished property rent at the same price as a furnished property?

    oh forget this is ireland.

    If you have furniture, and you are renting, you'll have to pay for storing it.
    If the demand is there for unfurnished you pay what the market will bear.


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    #18
    djimi
    Registered Users Posts: 13,237 ✭✭✭✭djimi


    In theory unfurnished should be cheaper (ie where you have two identical properties, one furnished and one unfurnished). In reality it depends on the market.


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    #19
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    beauf wrote: »
    Any information to back up that opinion?

    Just what I have witnessed. The one property I know of that rents unfurnished in Ireland is very much at the upper end of the market whereas in Australia and The States unfurnished occurs at all levels of the rental market. That is where my opinion comes from.


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    #20
    cali_eire
    Registered Users Posts: 182 ✭✭cali_eire


    djimi wrote: »
    In theory unfurnished should be cheaper (ie where you have two identical properties, one furnished and one unfurnished). In reality it depends on the market.

    In Ireland unfurnished is a niche market and hard to find but in my experience people who are looking for it are willing to pay at least equal to furnished.


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    #21
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    One of the big issues for tenants and landlords is damaged furniture, and/or sub par furniture, tenants wanting to change the furniture all the time. One wants a double bed, the next a single, things like that.

    Removes all those problems.


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    #22
    Sligo1
    Closed Accounts Posts: 3,948 ✭✭✭Sligo1


    Just went on daft and myhome last week as my mum looking for a rental in Dublin. A lot or even most of the nicest 3-4 bedroom places in the area we are looking at are unfurnished....


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    #23
    murphaph
    Registered Users Posts: 19,022 ✭✭✭✭murphaph


    who_ru wrote: »
    why would an unfurnished property rent at the same price as a furnished property?
    Because it's a niche market. Unfurnished properties for rent are few and far between. When that changes (as I hope it does as people realise that long term renting is their future) then furnished places should command a premium.


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    #24
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    wirelessdude01 wrote: »
    Just what I have witnessed. The one property I know of that rents unfurnished in Ireland is very much at the upper end of the market whereas in Australia and The States unfurnished occurs at all levels of the rental market. That is where my opinion comes from.

    Either there is a market or there isn't. Thus far it seems there is a market (if small but growing) and its not at lower rate like you suggest.


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    #25
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    beauf wrote: »
    Either this is a market or there isn't. Thus far it seems there is a market (if small but growing) and its not at lower rate like you suggest.

    Lets see the level of rent the OP wants to pitch? I don't think many recent graduates have a house/apartment full of furniture ready to move into an unfurnished place.


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    #26
    cali_eire
    Registered Users Posts: 182 ✭✭cali_eire


    wirelessdude01 wrote: »
    Lets see the level of rent the OP wants to pitch? I don't think many recent graduates have a house/apartment full of furniture ready to move into an unfurnished place.
    I didn't realize the OP was only targeting recent graduates ... I must have missed that


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    #27
    wirelessdude01
    Registered Users Posts: 8,423 ✭✭✭wirelessdude01


    cali_eire wrote: »
    I didn't realize the OP was only targeting recent graduates ... I must have missed that

    We have no idea what market he is targeting. Think you will see I already said that. IMO young(er) people make up the vast majority of the rental market. Recent graduates would be part of this or are you going to disagree with this as well just for kicks and giggles?


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    #28
    Cheshire Cat
    Registered Users Posts: 2,277 ✭✭✭Cheshire Cat


    who_ru wrote: »
    why would an unfurnished property rent at the same price as a furnished property?

    oh forget this is ireland.

    I would actually be prepared to pay a premium for unfurnished. Not having to put up with crappy furniture would be worth it. Also we pay a fortune to store our own furniture, we would probably save in the long run!


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    #29
    beauf
    Closed Accounts Posts: 22,648 ✭✭✭✭beauf


    wirelessdude01 wrote: »
    We have no idea what market he is targeting. Think you will see I already said that. IMO young(er) people make up the vast majority of the rental market. Recent graduates would be part of this or are you going to disagree with this as well just for kicks and giggles?

    Targeting people who have furniture. or don't want the LL's. No?


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    #30
    djimi
    Registered Users Posts: 13,237 ✭✭✭✭djimi


    Cheshire Cat wrote: »
    I would actually be prepared to pay a premium for unfurnished. Not having to put up with crappy furniture would be worth it. Also we pay a fortune to store our own furniture, we would probably save in the long run!

    Its the wrong way to look at it though. In an equal market (where there are similar numbers of furnished and unfurnished properties) then you should be paying the premium for added value; in this case the added value of a furnished property. It stands to reason that a barebones property (or as barebones as our laws will allow) should rent for less.

    I suppose in our current rental market where unfurnished is still a niche then the added value is the fact that its unfurnished.


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    #31
    cali_eire
    Registered Users Posts: 182 ✭✭cali_eire


    wirelessdude01 wrote: »
    We have no idea what market he is targeting. Think you will see I already said that. IMO young(er) people make up the vast majority of the rental market. Recent graduates would be part of this or are you going to disagree with this as well just for kicks and giggles?

    Actually I dont like to disagree for the sake of disagreeing; life is way too short for that. There is a distinct subset of the rental market looking specially for unfurnished (I outlined a profile of some of these a few posts back). The OP should be able to get equal or greater rent in Dublin for his property that's in Dublin unfurnished compared to an unfurnished property so long as it shows well. That's all folks.


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