Mr Ung, purchased a new home at one of London’s new residential developments and his first question to his letting agent was: how do I maximise my rental income and secure a good tenant?
This is when Mr Ung was introduced to DIAL Furnishings by one of our Estate Agency partners so we could create a tailored furniture package for his London rental apartment that would attract interest from as many different tenants as possible and maximise the rental income.
Once the apartment was professionally furnished and marketed fully furnished with accessories such as artwork, mirrors, bedding, and soft accessories it achieved multiple offers. This property investor had achieved offers 10% over the asking rent and a choice of tenants! The landlord eventually accepted an offer 10% above the rental estimate for the fully furnished rental property. He accepted a two-year tenancy, with the tenant moving in within 2 days of furnishing being completed.
This is how DIAL maximised this landlord’s investment.
Initial furniture costs: £8,100
Additional 10% rental income (£60 per week) over 5-year furniture lifespan: £15,600
Profit on furnishing investment: £7,500
Without even considering the reduction of void periods achieved by furnishing this London rental property the landlord has achieved a massive return on his interior investment.
Mr Billy Hayes, Managing Director of Invest & Co, commented ‘The team at DIAL really understand the London property market and what attracts corporate tenants, it’s always a pleasure showing my clients property that DIAL has furnished and dressed’. Find out more about Dial’s Landlord Furniture Service.