Short-term sublets: furnished or unfurnished?
Started by munchkinjess
over 12 years ago
Posts: 0
Member since: Apr 2012
Discussion about
We are considering making a offer on a ground-floor unit in a newish luxury condo in the East Village. We would not be able to move in until June 2014, and our broker suggested we sublet the apartment between closing and move-in. For a six-month lease, does it make more sense to rent the apartment furnished? Is there a market for high-end unfurnished short-term rentals? I'm not sure if this makes... [more]
We are considering making a offer on a ground-floor unit in a newish luxury condo in the East Village. We would not be able to move in until June 2014, and our broker suggested we sublet the apartment between closing and move-in. For a six-month lease, does it make more sense to rent the apartment furnished? Is there a market for high-end unfurnished short-term rentals? I'm not sure if this makes a difference, but the layout is rather unique. The upper level is identical to other apartments in the line (2BR/2bath, 1165 sf, open kitchen/dining/living area) except for the 500 sf terrace extending the length of the apartment. The lower level is an open 700 sq foot area with sliding doors halving the room, plus a half bath and a small patio. I have no idea how any of this affects market value. It is the largest unit in the building, and other 2BR and 3BR units in the building are renting for $6.50-$7.50/square foot for 1100-1450 sf. 1BR units are more like $5.50-$6/sf (all unfurnished). Based on the unique attributes of this unit, is it reasonable to expect to rent it for a similar price per square foot? How much more could I ask per month with mid- to high-end furnishings? [less]
The market for High en unfurnished short term rental is rare, would be attractive when the rent is below market and would make sense to rent furniture.
For the high end furnished rentals,the demand is pretty good for this type of neighborhood.
Note that we at www.nycshortlease.com specialize in short term rental for corporate housing and exchange students housing.