What is an all – inclusive, fully furnished rental and what are the pros and cons?

If you have ever had to search for an apartment, you may have stumbled upon the term “all-inclusive” in a rental description. What does this term entail exactly when describing a rental unit? Very simply put, this means that the unit has everything included. The furniture, utilities, cable, and internet hookups and sometimes more or less. This is similar to what it would be like when you stay in a hotel. You don’t have to supply your furniture or fuss with remembering to pay utilities.

As a tenant there are many positive aspects to leasing an all-inclusive apartment or home. Many travelling workers who know that they will need a place of residence for a few months to a year, this is a great option! They do not have to lug around tons of belongings or worry about switching utilities into their names. It can be much more cost effective than staying at a hotel or resort and you have the comfort of not having to bounce from hotel to hotel.

This is also a great option if you don’t have furniture to furnish your home. When you are just starting out in the world of living on your own, it may not be financially feasible to go out and purchase an entire apartment’s worth of furniture. This may make a fully furnished option ideal. It also lessens your stress when moving, as you don’t have to hire movers or struggle scheduling in the pickup and drop off times.

Furnished and all-inclusive apartments are also great for those who have made a big move, such as a few states away. This allows the tenant to not worry about hauling furniture across the country and allows them to focus on getting acclimated to their new neighborhood.

On the flip side, this may not be ideal for those who are very particular when it comes to décor and furniture styles. If you have a certain interior design that you enjoy, the design of the already set up furniture may not be to your taste. You also must be gentler with the furniture if it is not yours. If you own the furniture, and something damages it, you can just toss it out and get a new one. But if it comes with the apartment, it then will cost your pocket for the replacement of any damages.

As a landlord, this type of rental also comes with pros and cons. You can have a higher profit margin when renting a unit as a fully furnished and all-inclusive apartment. This is because you are able to charge more for your rental unit because of the amenities that are built in. You do have to keep in mind how much realistically the cost of the utilities are going to be per month. That way you are not running into your profit margin when your tenant inevitably has a huge gas or electric bill.

A con for landlords when renting out this type of unit, is the terms are typically shorter than the normal lease term of one year. This can mean that you will have to market the unit more often and turn around the property more times than if you had a longer lease. This can cost you more when factoring in the cleaning, painting, and cost of advertising.

In the end, the tenant and the landlords must choose what makes the most sense for their individual and business needs. A fully furnished and all inclusive unit has been a great benefit for prospective tenants who need to remain flexible with their lease terms. It can also be a profitable decision for landlords to offer this option, depending on the demand in the area. Outweighing the pros and cons will lead you to the perfect choice for yourself and your business.