Why Monthly Furnished Rentals?
Rental owners choose monthly furnished rentals because it helps them to optimize revenue and achieve higher returns than nightly or annual stays. Homesuite is a marketplace designed to connect rental owners with qualified tenants for stays of 30 days or longer.
Monthly furnished rentals are attractive because tenants are willing to pay a premium for the convenience of a monthly furnished rental and the incremental cost to landlords of furnishing the rental is small. Rental owners capture an average premium of 38% on 1 bedroom furnished rentals as compared to unfurnished.
The cost of furnishing a rental is modest, which we have estimated below. There’s also less wear-and-tear on a monthly rental as compared to a nightly rental, allowing furniture to last longer before needing replacement.
Furnishing your property for monthly rental will help you to optimize your revenue. Being flexible on length of stays up to 12 months ensures that you maximize annual revenue, while avoiding high-risk nightly rentals with unvetted tenants, frequent turnover, and greater occupancy risk.
Regardless of the length of stay on HomeSuite, all tenants receive an enterprise-level background, credit, and financial checks to ensure that you have the highest quality tenants. Homesuite also guarantees up to $50,000 in unpaid rent and up to $10,000 in property damage.
See our pricing by market data for Greater Los Angeles.
See our pricing by market data for the San Francisco Bay Area.
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¹ Zumper report; https://www.zumper.com/blog/2016/05/zumper-national-rent-report-may-2016/
² Proprietary research conducted by HomeSuite with HomeSuite partners