I am in the process of putting two places I have in Port Macquarie on the holiday rental market. I am a bit nervous as this is the first time I have done this. I also realise that I now have to furniture the places. I have a 2 bed apartment and a 3 bed town house. Does anyone have any ideas on the best way to package this. Where can I get a good furniture package? Should I rent one or buy one? Is Fantastic Furniture really crap?
All these questions and lots of confusion. Please help.
BJMACA[blink]Hi there,
Can’t help you too much, but no, Fantastic Furniture is certainly not crap for a holiday house. When I first moved out on my own, my house was fully furnished with Fantastic Furniture. This was many years ago, and we have only just replaced the last of it (entertainment unit and coffee table).
I’d certainly consider purchasing from there if I had a holiday house or rental to furnish.
Cheers,
Karen[biggrin]I’ve never had furnished properties myself. But I’d suggest having a chat to the local PM’s who manage these type of rentals to find out what the market expectations are for furnishing standards.
There’s no point going overboard if you don’t need to, but you obviously don’t want to put cheap stuff in if the tenants are expecting top quality.
Should be able to claim depreciation on the furniture as well.
regards,
Rod.
Hi Bj,
Check the Salvos or other ex-furniture places – you can usually buy them cheap with good quality. Check the Yellow Pages or White Pages. There is no need whatsoever to go over the top -cause if you do, chances are they (the tenants) won’t respect it.
Kind Regards,
George.I’ve found a way to help you save and earn whilst not selling or delivering any product. If interested, drop me an email or PM me to find out how
I have always been of the opinion if you have furnished IP’s the furniture must look stylish, modern and in excellent condition.
i have always gone for Fantastic Furniture packages and more recently Freedom Furniture in a holiday letting property. I have found the quality to be fine, at a reasonable price and looks great!!
Kelvin J Brennan
Not sure what the situation is in or near Port Macquarie, but I know in Melbourne that you can pick up great furniture at excellent prices from auction houses. Often they will auction off all of the furniture from a hotel that is being refurbished. That means they may have 100-200 identical items eg. entertainment units at rock bottom prices. With that many to choose from you are bound to pick up items that are in pretty good condition. A guy I know just picked up 15 desk lamps (quite trendy looking with a high and low setting) for $20 for the lot! He thought it was $20 for one when he was bidding!!!
Certainly something to consider!
Cheers,
Ali G
Auction is a great place to buy. There are plenty of Auctions held in Sydney on Sat and on week days. Get SYdney Morning Herald Sat paper and check the auction colum. You can get up to 50 – 70% off new furnitures.
Good luckArungounder
Originally posted by RodC:I’d suggest having a chat to the local PM’s who manage these type of rentals to find out what the market expectations are for furnishing standards.
There’s no point going overboard if you don’t need to, but you obviously don’t want to put cheap stuff in if the tenants are expecting top quality.
Should be able to claim depreciation on the furniture as well.
Fully agree with all of Rod’s comments.
If you are entering the ‘holiday letting’ market on a long term basis you are well advised to initially purchase solid furniture that will go the distance. The standard of furnishing needs to be consistent with your property ‘status’
It is fair to say holiday makers ‘expect’ a comfort level that matches their budget and will be reluctant to accept a mish mash of furniture from second-hand auction houses etc.
I am sure that your booking agents will soon learn that your accomodation, as a complete, package is only OK and holiday makers will steer clear of them and/or your property.
Therefore get in touch with the booking agent and find out what the holiday makers expect – are you going/expected to include cutlery and linen for example?
You will also find that your depreciation claims will be significant on furniture. With some beiing written off in the first year and much of the other having short depreciable lives.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
On the note of auctions, bjmaca, you don’t have to buy ALL of your furniture there and thus end up with a ‘mish mash’ as Derek put it (!) but you could pick up a few items that fit in nicely with what you have planned. Just because it is cheap or second hand it doesn’t mean it is crap!! [biggrin]
Cheers,
Ali G
be careful with holiday let apartments as the capital gorwth is geared aginst the rent return. So your end gain might not be as substantial as you might intially think.
Can you rent the properties out as normal rentals?
And by the way fantastic is good for a rental property just make sure you upgrade to material on the lounges otherwise they wont last long and you will have to cover them
You must be logged in to reply to this topic. If you don't have an account, you can register here.
