Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
Furniture packs can make a real difference to any property, but they could also save you more than they cost and in effect pay for themselves.
How much is you time worth? £10 per hour, £20 per hour or even £50 per hour or maybe more?
Example, if you lived around a 30 minute drive from your investment property it is highly likely that you could be doing 4 viewings per room (on the average HMO being 5 rooms) this is 20 hours of your time – based on £20 per hour = £400.00 just in wasted time.
With higher quality furniture you would also achieve higher rents. £80 per week then becomes £95 per week! Therefore for 5 rooms this becomes an extra £3,900 in rent uplift alone.
A full 5 bed HMO furniture pack costs £3198.00 plus vat.
Based on time savings and increased income a furniture uplift could very quickly recoup all its initial cost (in under 12 months on the example above).
Speed and sticking to promises is critical for Landlord’s and Developer’s cash flow
A furnishing job in Manchester for 120 student rooms was held up until the last minute due to builders, ending up with only one week to fully kit the whole development out, and even the electrics were not working! As fitting the furniture was promised by an agreed date the project was worked on through the night by mobile phone torch light and even the scissor lifts were needed as the internal ones were not working. The important thing is that the property finished on time for the client, because as ever time is money.
If you would like to enquire about a Furniture pack for your property no matter what the type or location please complete your details below.
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