What sort of discount for unfurnished letting of house?

I have been asked to advise on the letting of a 5 bedroom house near enough to the city centre.
This is an unfurnished house and the owners want a nice reputable family in it who will take some pride in it.

I have often seen Pinsters bemoan the fact that there are very few unfurnished lettings of houses in Ireland and that landlords love their crappy bargaintown furniture!

Some relevant facts
-This is a very large, convenient house, reputable area

  • But it is old/victorian and insulation is probably not great
  • there is no furniture
  • there is no backgarden really as it has been built on

Who would rent a house like this?
What sort of discount should be offered?
Is 1,500 per month too much or too little?

The owners don’t want to go to the expense of buying furniture.

There appears to be very few unfurnished similar houses in Dublin. It is difficult to judge the interest in them or discount that should be offered.

Believe it or not, you usually get a premium for unfurnished.

What 1984 said, most landlords have furniture in a place and don’t want the hassle of moving it out. I wouldn’t offer either a discount or charge a premium.

What they said. It is what it is. They’ll be in an under-served niche in my opinion. If anyone complains about lack of furniture then tell them to go elsewhere.

Tell them to contact a reputable letting agent instead of listenting to cyber pub-talk

They are likely to get better information here.

I’m renting unfurnished - have done so in two apartments since 2007. In both cases, they were new apartments and the landlords hadn’t furnished them yet. In both cases, I got a discount from the asking rent. You could argue I might have gotten that anyway - but I used the “it’ll cost you to furnish it” argument successfully.

It is a niche, but then demand at any given time can easily be lower than the supply - which is very low unfortunately! I suspect that landlords of unfurnished properties are more wary of potentially long vacancy periods.

Thanks for the opinions everyone.
I certainly trust the ‘cyber pub talk’ here more than a lot other things elsewhere.

Why would landlords of unfurnished properties be more wary of potentially long vacany periods than other landlords?

Perhaps because with the smaller market for unfurnished properties it is likely to have more statistical noise. More spikes of demand, and troughs of no demand. I dunno.

I rent a house very similar to what you describe. It was lightly furnished but the landlord was willing to remove all the furniture for us. Sadly. that’s rare enough.

Unfurnished houses are exactly what some people, myself included, want. A furnished house would actually have to come at a discount for me, to counter-balance the cost of storing my own furniture somewhere.

And lots of us grew up in poorly insulated victorian houses, and know exactly what they’re getting in to.

So, I don’t think any premium, or any discount for it. It is what it is, and it’s what some people are looking for.

As quozl says, statistical noise. There are just too few in the supply stream, but demand is even harder to guage until you go to the market and see whether you get a bite… you could get lucky or be left waiting 6-8 weeks instead of 2-4.

In my case, in 2007 the landlord didn’t want the expense of furnishing, but the place had been on the market for 6 weeks when we turned up. This was a good apartment in Raheny. And in 2007, rents were kinda peaky, demand was still quite strong. Rents only really starting falling in late 2008.

This time last year we moved to a 3-bed apt in Drumcondra. Knew it was empty from the ad pics, even though it was advertised as furnished. Basically, it was the developer renting out what they couldn’t sell. We suggested taking it unfurnished and given that rents were falling at that point, got a decent reduction on the rent because, lets face it, they were broke and were only too happy to avoid spending several grand on furnishings.

I also rent unfurnished, and would definitely rent a place like you describe even with the lack on insulation and all, for me the big no-no is the lack of a back garden. For that, I would want a very big discount and even at that I probably would not take it. A 5-bedroom unfurnished house is likely to be rented by a young family and chances are they’re gonna be looking for some sort of a garden, a little bigger or a little smaller. Unless you try advertising to professionals or something, but again, with the house unfurnished, unlikely.

Demand for unfurnished is increasing, with families choosing to rent rather than buy. The kind of tenant with his own furniture tends to be longer staying and less trouble to deal with. I’ve had some expat immigrant tenants who shipped in furniture for a couple of years. Nae hassel

Like puesyo implies, the danger is that the house may be falling between 2 stools (weird typing that, but you know what I mean!) as it is unlikely that a family will want to rent a large house without a garden, and professionals sharing are unlikely to want to rent somewhere unfurnished.

We were looking for somewhere unfurnished (couple + baby) as were some friends of ours (couples) & found it very difficult to find somewhere suitable. But a five bedroomed house wouldn’t have been suitable for our demographic. I think if it was a 3 bed you would find more takers.

For what it’s worth, 2 beds with small yards in Portobello are looking for 1300-1400/mth unfurnished. Lunacy.

hey if it’s in Clontarf PM me, we are in a 3 bed looking for more room and very few unfurnished options here