To Furnish or Not to Furnish: The Landlord’s Dilemma in Zimbabwe

Investing in property remains one of the most reliable avenues for long-term wealth creation. Not only can property appreciate in value, but it can also generate a steady monthly income. However, success as a landlord depends on many factors, including deciding whether to rent out your property as furnished or unfurnished.

Understanding your target market and their needs is critical in making this decision, as it influences tenant appeal and rental income potential.

Key Considerations for Furnished vs. Unfurnished Rentals

1. Understanding Your Market

The decision to furnish a rental property largely depends on your target market and location:

• Corporate Clients and Short-Term Renters: In prime areas such as Harare’s CBD or affluent suburbs like Borrowdale, furnished properties are ideal for corporate tenants or expatriates on short-term contracts.
• Families and Long-Term Tenants: Properties in suburban areas like Greendale or Marlborough tend to attract families or long-term tenants who likely have their own furniture and appliances, making unfurnished rentals more suitable.
• Student Housing: In academic hubs near universities, such as Mount Pleasant, fully furnished apartments appeal to students or their families looking for convenience.

2. Cost vs. Rental Income

It’s a common misconception that a furnished property always commands a significantly higher rental income. While furnished rentals might appeal to niche markets like holidaymakers or corporate clients, they also come with:

• Higher initial costs: Buying furniture, appliances, and décor.
• Increased wear and tear: Replacing items as tenants come and go.

Landlords should ensure that the additional rent charged for a furnished property outweighs the costs of furnishing and maintaining it.

The Pros and Cons of Furnished Rentals

Advantages:

• Attracts short-term tenants like expatriates, diplomats, and corporate clients.
• Offers convenience for tenants, especially those relocating or on fixed-term contracts.
• Potential for higher rental income in specific markets.

Disadvantages:

• Smaller tenant pool, as many tenants prefer bringing their own belongings.
• Longer vacancy periods if the property doesn’t match tenant preferences.
• Higher maintenance costs due to furniture repairs and replacements.

Tips for Furnishing a Rental Property

If you decide to furnish your rental property, here are practical tips to maximize tenant appeal and durability:

1. Keep Décor Neutral

Choose light, neutral colors such as beige, off-white, or soft gray to create a spacious and appealing atmosphere. Bold patterns and bright colors may alienate potential tenants.

2. Select Durable Furniture

Opt for sturdy, low-maintenance pieces in timeless styles. Avoid outdated or overly ornate furniture, which may deter younger tenants. Quality items will withstand wear and tear better.

3. Window Treatments

• Blinds: Ideal for small rooms as they are space-efficient and easy to clean.
• Curtains: Provide warmth and insulation, especially in bedrooms, but ensure they are made of durable, washable fabrics.

4. Install Efficient Lighting

Energy-efficient LED lighting is cost-effective and environmentally friendly. These bulbs last longer and are less prone to damage.

5. Choose Practical Flooring

For high-traffic areas, hard surfaces such as tiles, hardwood, or laminate are ideal. In bedrooms, medium-toned carpets with short piles are durable and easy to maintain.

6. Add Rental Insurance

Update your insurance policy to include the property’s contents, and inform your insurer that the home is being rented out. This protects you against theft, damage, or other liabilities.

Unfurnished Rentals: A Reliable Alternative

Unfurnished rentals tend to appeal to long-term tenants, such as families, who bring their own belongings. These properties often:

• Attract a larger pool of tenants.
• Have lower maintenance costs, as the landlord is not responsible for furniture or appliances.
• Experience shorter vacancy periods, as more tenants prefer flexibility in furnishing their own space.

Maximizing Returns on Your Rental Property

Whether furnished or unfurnished, your rental property should meet the expectations of your target market. To maximize returns:

1. Conduct market research to understand tenant preferences in your area.
2. Price your rental competitively by comparing similar listings.
3. Maintain the property in excellent condition to appeal to prospective tenants.

Final Thoughts: Which Option Is Right for You?

Furnished rentals work best in areas with high demand for short-term leases, such as urban hubs or near corporate offices. Unfurnished rentals, on the other hand, are better suited for family homes and long-term tenants in suburban areas.

Ultimately, the decision should align with your investment goals, market demand, and the costs associated with furnishing and maintaining the property.

Need Help Renting Out Your Property?

At property.co.zw, Zimbabwe’s No. 1 property marketplace, we connect landlords with the right tenants. Explore our wide range of tools, expert advice, and top-performing listings to make the most of your investment.