- Joined
- Oct 23, 2012
- Messages
- 41
Hi,
Not all areas have a high demand for furnished rentals but I wanted to share my experience in case it could help you make higher returns for you and your partners.
Grande Prairie is a very a transient place and due to the lack of local skilled workers needed there is a large number of people coming and going all the time. This is true in most western provinces that are growing and have more employment than the other provinces. Other places were furnished rentals could play a strong role are near colleges or universities.
I have found that although the tenants or companies that are looking for the furnished rentals we provide are more short term than long term the benefits are still far greater. To furnished a house nicely with new beds, dressers, lamps, couches, TV's, kitchen supplies, pictures, etc. can be between 5-10k depending on how many living rooms, bedrooms and kitchens.
This money can be made back in the first 3-6 mths again depending on your rental terms. We usually cater to the tenants needs and charge different premiums for different lengths of lease agreements or simply charge by the number of beds in the house. They pay a large deposit as its furnished and regular cleaning is mandatory. This keeps the maintenance down and the deposit or the company will take care of any damages right away. Peace of mind and additional profits are a win win for you and the property.
The additional work involved as we have anywhere from 1-3 tenants per year is factored in and paid for in the higher premiums. We do cover the utilities and the insurance is higher but we inspect 3 times a month and have worked out the kinks, making it as profitable as possible. Its very easy to save a company money and provide their workers with a comfortable hotel alternative while putting some extra cash in our investors pockets.
If you are thinking of doing furnished rentals and would like some more details regarding my experience contact me anytime. Aaron Bellmore 780 882 3396
Not all areas have a high demand for furnished rentals but I wanted to share my experience in case it could help you make higher returns for you and your partners.
Grande Prairie is a very a transient place and due to the lack of local skilled workers needed there is a large number of people coming and going all the time. This is true in most western provinces that are growing and have more employment than the other provinces. Other places were furnished rentals could play a strong role are near colleges or universities.
I have found that although the tenants or companies that are looking for the furnished rentals we provide are more short term than long term the benefits are still far greater. To furnished a house nicely with new beds, dressers, lamps, couches, TV's, kitchen supplies, pictures, etc. can be between 5-10k depending on how many living rooms, bedrooms and kitchens.
This money can be made back in the first 3-6 mths again depending on your rental terms. We usually cater to the tenants needs and charge different premiums for different lengths of lease agreements or simply charge by the number of beds in the house. They pay a large deposit as its furnished and regular cleaning is mandatory. This keeps the maintenance down and the deposit or the company will take care of any damages right away. Peace of mind and additional profits are a win win for you and the property.
The additional work involved as we have anywhere from 1-3 tenants per year is factored in and paid for in the higher premiums. We do cover the utilities and the insurance is higher but we inspect 3 times a month and have worked out the kinks, making it as profitable as possible. Its very easy to save a company money and provide their workers with a comfortable hotel alternative while putting some extra cash in our investors pockets.
If you are thinking of doing furnished rentals and would like some more details regarding my experience contact me anytime. Aaron Bellmore 780 882 3396