Quality furniture in investment property?

[eiregal]

I don't know if this is the right forum? Just wanted some people's opinions on the following. My brother has purchased an investment property and is about to furnish it. Should he been looking for quality furniture or would basic stuff just do? It will depend on what type of renter he is looking for I suppose but I just wondered what other people would do. I've told him to ensure that permanent fixtures are of good quality as it will bear well for him when he goes to sell it but what about the likes of living room suites, beds and diningroom furniture? Any ideas?

 

[Polo-Boy]

You pretty much answered your own question in terms of what type of renter he is aiming at.

I would go for the middle ground in terms of quality - nothing too expensive but nothing too cheap (just ends up needing to be replaced twice as often).

 

[hmmm]

Like polo-boy says. As a pretty well off renter, I've been surprised at the number of beautiful properties which let themselves down by using any old tat as furniture. That might do at the student rental type places, but because there is no tradition of renting places unfurnished in Ireland I'm not going to take a place where I have to buy new furniture.

Many of the places on daft.ie have photos, so you would be able to get some idea of average level of furnishing at different price points.

 

[Amygdala]

Again it depends on the market you are targeting...but there is nothing worse than seeing a place that has been furnished from a charity shop.

 

[funlovin]

keep all reciepts as you can claim 20 % depriciation each year for 5 years reduces your tax bill on rent so buy good furniture with reciepts,throw in a few from your own house too

 

[bazermc]

keep all reciepts as you can claim 20 % depriciation each year for 5 years reduces your tax bill on rent so buy good furniture with reciepts,throw in a few from your own house too

Thats been changed its now 12.5% per year or over 8 years