Accord Lets Advise Landlords ‘Go Part Furnished For Letting Success’
23 March 2009
Letting your property fully furnished, unfurnished or part furnished no longer has any implications regarding taxation or the security of tenure for the tenant, now Accord Lets, the premium letting agent in Birmingham city centre, is breaking the misconceptions most commonly related to property ownership.
Buying all the furniture for a property can be a major expense especially in the current economic climate. It is all too tempting to offer a property unfurnished, to save both time and money, but given that there are no strict rules on furnishing a property, this could turn out to be a major factor in attracting a suitable tenant.
Carl Mimmack from the firm who offer not just Birmingham apartments to let but property to rent in Leamington and Warwick property to let, said, “There are generally more tenants looking for furnished properties, especially in the current climate, where decreased job security means that buying new furniture may be unfeasible. Landlords who offer their property unfurnished may also reap the benefits of being able to deduct a percentage of the cost from their tax liability.”
If you let out a furnished property, it is also possible to claim an allowance on the tax you are already paying for letting income, which usually works out at around 10 per-cent of the ‘net rate’.
Alternatively, you can claim the net cost of replacing a particular item of furniture, which can often be achieved by using a 'renewals allowance'. If you choose to leave a property unfurnished you are unable to claim these benefits.
Mr Mimmack , whose letting agents offer a wide range of rentals to suit all budgets from Birmingham apartments to larger property to rent in Birmingham , added , “Offering your property furnished or unfurnished really is about personal choice, if you offer it furnished, you may spend more money in the short-term on extras, but in the long-term this may enable you to charge more rent per month. Despite this, many property owners prefer the freedom that comes with providing a property unfurnished as this means that you do not have to worry about wear and tear on existing items.”
Lettings agents often favour the part furnished option, as it gives much more flexibility that offering in completely furnished or unfurnished. Ideally, property owners should look to purchase enough furniture so that a property looks lived in but not fill it with furniture so that the tenant is unable to put their own stamp on things.
Mr Mimmack added, “It may be a good idea to hire a warehouse in which to keep spare furniture, should your tenants require it, that way you are giving them the option. In some cases it is just not feasible to fully furnish a property especially if it is a large house or apartment, and many of the landlords who have property to rent in Birmingham with us will often choose to part-furnish their larger homes instead.”
For more information on furnishing a property for rent visit the Accord Lets website at www.accordproperty.co.uk
About Accord
Accord was formed in 1990 with the aim of providing a professional, approachable, honest and caring service.
They are a premium-letting agent with property to let in Leamington , Birmingham and Warwick.
They believe that they have been able to hold on to these principles and that is the reason why so many of their clients have continued to use them. Their clients include a mix of prospective tenants and landlords, and they are proud that their clients still recommended them to others.
Currently the company has two offices: one in Birmingham city centre and the other in Leamington Spa.
As a company they are committed to building long-term relationships as they have found that property letting is not just about property and systems but, most importantly, about people.
You will find the company harnesses the latest technology to present properties well and as widely as possible, communicates efficiently and effectively and believes strongly in personal customer service.