Furnishedowner

Rehabbing, Fix and Flip, Rental Properties
1

Furnishedowner
What is your average cost to furnish a 2 bed 1 bath? I have a small unit that my make a good short term rental.
Thanks
Jay

2

Jay,
I keep a figure in my head of about $5,000. But you can do it for less.
Since my furnished rentals rent out to corporate or medical guests here is my list of must haves:

Queen or King (if bedroom is large enough) bed with good mattress
2 mattress pads, 2 complete sets bedding
big screen TV, now buying 37" for smallish room
smaller TV for bedroom, DVR for big TV, DVD/Video player
comfortable couch (sleeper if in 1 bedroom unit)
recliner
desk with chair
telephone with landline (essential for medical workers)
cable or dish with lots of channels, HBO or movie package
wireless high speed internet hookup
complete kitchen with dishes for 8 minimum
Towels, linens, curtains (for day sleepers)
Outdoor table/chairs
Barbeque
Anything else for living (Tenant, Just bring your toothbrush…)

Good luck, let me know how it goes!

FurnishedOwner

3

I forgot, unit MUST HAVE washer and dryer.

Furnishedowner

4

What do you find the best way to market your units? What do you charge per month compared to unfurnished units.
Thanks again.
Jay

5

You will have to experiment in your area to find the best way to market your units. For us, NO. 1 is our internet site. No. 2 newspaper ads in local paper No. 3 Word-of-mouth. No. 4 Realtors and hotel referrals. No. 5 Chamber of Commerce, Visitor’s Center, Tourist magazine.

For rent we charge 2-3 times unfurnished. It needs to be less than the hotels serving breakfast, but more than the hotels serving donuts. This is a rough estimate. Would you stay with you?

I started out wanting $1800/month for a 1-bedroom, but had to back down to $1,200/month. Now 3 years later we’re at $1,800/month.
FurnishedOwner