Why Monthly Furnished Rentals Are My Cup of Tea Blog
Written by Landlord & Traveler Kelly Bailey
Tea comes in a variety of types, benefits and flavors; so does sharing your home with others. Furnished Finder is the only place we have our properties located and I love it! Why you ask?
TOP OF SEARCH ENGINE When I first started google searching “furnished homes for rent”, Furnished Finder was one of the top 3 results in Austin, Texas; and conveniently geared towards only furnished rentals. I don’t know if you have ever tried to find “furnished” rentals on a homes for sale or rent website, but it’s a bit of a nightmare. You have to sort through so many unfurnished rentals to find one that is actually furnished.
NO VACANCIES Austin, Texas, and other cities around the country are in a unique market at this time as we have more people moving here than we do homes available resulting in a booming furnished rental market. This video sums it up so well and makes me laugh every time! Due to these circumstances and good communication, we have not experienced vacancies in our nights of stay.
MONTHLY FURNISHED RENTALS KEEP OUR HOMES IN TIP TOP SHAPE We have chosen the monthly furnished rental route for a couple main reasons. Less time flipping each property and no need to research short term rental rules for each city. On that note, we also prefer properties with no HOA. Not everyone will agree, but to me furnished vs. unfurnished keeps our properties in better condition. Travelers view the property as your home they have the privilege to enjoy, while fully expecting to get their deposit back if they take good care of your home. Unfurnished tenants view the property as their home and typically don’t expect to get their full deposit back. Lastly, one of my God given traits is joy in helping others. Furnished rentals are a way for me to purposely fill our home with things that are important to us and encourage others. We stay available 24/7 for our guests and any needs that may come about during their stay.
OUR ONE STOP SHOP Furnished Finder has done a fabulous job setting you up for success as a landlord at a very affordable cost ($99 per listing per year). We love the screening process and use it every time (paid by tenant). We love the property lease available and the fact that you can save each one on LawDepot for your records ($29 per year). We have found the Dropbox program HelloSign to be a convenient option for signing the lease (3 free per month). It is not a hidden fact that safety and security is one of Furnished Finder’s top focuses for both landlords and tenants giving both parties confidence in the rental process.
View KeyCheck Pricing
HOW TO CHOOSE THE RIGHT INVESTMENT HOME FOR YOU Property owners must answer a ton of questions to create their home into a rental. Unfurnished or furnished, short term or long term, entire home or room rental, size of deposit, what should I charge for rent, should I allow pets, do I cover internet, what are the selling points of my location, what type of insurance do I need, etc…? The list is endless. So here are a few big picture questions to get you started:
WHAT TYPE AND SIZE OF LOAN AM I APPROVED FOR?
This is a great starting point to match your dreams with your reality.
AM I MAKING A WISE INVESTMENT CHOICE FOR EITHER CASH FLOW, APPRECIATION OR BOTH?
Study up, there are plenty of good reads or podcasts to help with this question. Furnished Finder provides a very useful tool for this, “Travel Nurse Housing Demand For Your Area”
View FurnishedFinder Stats
WHAT CITY AND AREA OF THAT CITY FITS MY DESIRED INVESTMENT GOALS?
Be vigilant and be patient. Properties move quickly, emotions run high and you must keep your goals in mind or you might find yourself straying far from the path you had intended. Furnished Finder is geared toward traveling nurses so we factor in the distance and number of hospitals in our area when purchasing a new home.
WHAT ARE SHORT TERM RENTAL RULES IN MY DESIRED AREA?
Do your homework so you are not caught off guard. Each city or county has their own short term rental rules and taxes. An HOA may add in additional rules on top of that. With Furnished Finder, you can avoid most short term rental rules since you will mainly see 1-3 month stays.
SHOULD I HIRE A PROPERTY MANAGEMENT COMPANY?
If you choose to manage the property yourself, Furnished Finder has compiled a wealth of information to help along the way.
View FurnishedFinder Promerty Manager Resources
ADDITIONAL RESOURCES FOR HOW TO CHOOSE THE RIGHT HOME: