Think about renting furniture or appliances to tenants as an additional revenue source. Property managers might be able to include this as an add-on service for their owners. It makes units easier to rent, and the property manager keeps some or all of the furniture rental income.
Typically, monthly rent is equal to 10% of the purchase price of the furniture. On a one year lease, that means 10 months to pay for the furniture, and two months of profit—a 20% annual return on your money. Where else can you get that? In my own personal experience, tenants renting furniture had an average term of three years. At a purchase price of $1,500 for good quality used furniture for a three bedroom apartment, and a term of three years, you get $3,900 of profit on a $1,500 investment, which works out to 86% per year return on your money. Is your bank offering that?
Moving furniture in and out, and storing it, are the two things that cause people to send renters to Aaron Rents, instead of the landlord providing that service. Storage is usually just an empty apartment someplace, or a self storage facility. If you don’t want to fool with any of that, buy very modestly priced new furniture. It won’t hold up for years, but you don’t care. You want to buy cheap, have it delivered by the furniture store, and give it to Salvation Army when the tenant leaves. The WORST thing that might happen, is the tenant leaves after only one year, you give the furniture away, and you earn only 20% on your money. How bad is that?