The five most profitable UK cities for landlords with furnished properties
A recent study by CIA Landlord Insurance has set out to reveal how much money landlords can make in cities around the UK by furnishing their property. They have also looked at where there is high demand, and active listings, to show where renters can expect to find the largest selection of properties to suit their needs.
Landlords in London can make nearly £10,000 PCM if they furnish their property
On average, landlords with rentals in London recieve £2,189 a month in rent. However, if they furnished their property, they can expect to maximise their profits by 316% and rake in nearly £110,000 a year on average – £9,120 per month.
Bristol is the second most profitable location for landlords with furnished properties with the average monthly income of these being £2,038. Following closely behind is Brighton and Hove, where landlords can rake in £1,898 per month for their furnished property, giving them a yearly income of nearly £23,000.
The top five most profitable UK cities for furnished properties:
|
Rank |
UK City |
Average rent per month for a 1-4 furnished property (£) |
Average rent per month for a 1-4 unfurnished property (£) |
How much extra landlords make per month by furnishing their property (£) |
|
1 |
London |
9,120 |
2,189 |
6,931 |
|
2 |
Bristol |
2,038 |
1,355 |
683 |
|
3 |
Brighton & Hove |
1,898 |
1,436 |
462 |
|
4 |
Edinburgh |
1,604 |
1,232 |
372 |
|
5 |
Reading |
1,436 |
1,242 |
194 |
Furnishing a one-bed property costs less than £2,000
Paul Gibbons, property specialist at HouseBuyers4u says: “furnished properties include all or most white goods such as cookers, fridges, freezers, and washing machines, and basic furniture like sofa, chairs, tables, wardrobes and beds. Unfurnished does not include any furniture and the tenant is expected to furnish the house.” Based on this, the average price of furnishing a one-bed property will be £1,666.
It costs £606 to rent a furnished property in Plymouth
The least profitable location for landlords with furnished properties is Plymouth, as these types of rentals cost £606, £225 less per month than unfurnished ones. This means landlords could reduce their annual income potential by £2,700 if they provide furniture for their tenants.
HICH LTD has continually raised the quality standards in the UK property survey market. Our multi-award-winning property survey service has made us the leading reference in the property survey market.
We offer property survey services of the highest quality. Using state-of-the-art equipment, we provide top-notch property surveys at affordable prices. Our prices are based on the number of rooms rather than the value of the properties, so you will always get the best value for money with our services.
Please look at our Trustpilot page and see why customers have chosen us as their favourite property survey provider!
At HICH LTD, we work to serve our clients and make the world a better place for everyone. We actively collaborate with NGOs to promote environmental, social and charitable causes. If you want to know more about our efforts or how you can help, contact us at hichinfo@aol.co.uk.
Are you looking for a roof, structural, or bespoke survey? Request it here!
Follow us on our social networks to keep updated with the most relevant property market news, tips for being a responsible homeowner, and more!
Twitter: @HICHLTD
Facebook: HICH-LTD
