When you decide to rent out your home, it can be tempting to leave behind some of your personal belongings. What safer place to keep that extra wardrobe that you don’t really need than your former home? Tenants might find it useful as well, right?
Many first-time landlords assume that personal belongings, whether furniture or decorative items, will not only be safe in their rental property but would even be seen as an asset and produce a larger rental income. While this may hold true for the short-term rental market, it is in fact the opposite for long-term rentals. In this post, we would like to debunk this myth and explain why you should never leave behind personal belongings at your rental property.
Your personal belongings are not safe
If you expect that extra armchair you don’t really need in your new home to last fine at your rental property, think twice. No one takes care of your items better than you do, let alone your tenant. There are many great tenants out there that treat your property like their own, but on average, your tenant will not invest as much time and care in your property as you would.
To add to that, items in rental properties degrade at a faster pace than those in homes inhabited by the owners because of the frequent change of tenancy. So no matter how careful your tenants will be, the single fact that the rental property will change hands on average once in 2.5 years will cause your beloved armchair to degrade quite fast.
Tenants come with their own belongings
Another issue that should deter you from leaving pieces of furniture at your rental is the fact that your tenants already own furniture and even appliances. Contrary to what you may think, your tenants will likely find it a nuisance to have to deal with, arrange, and match your furniture with their own. Oftentimes they ask for your personal belongings to be removed and even for a rent reduction in exchange for having to care for your property.
You may leave behind some types of appliances
There are, however, some types of appliances that are likely to increase the rental value of your property. One example is a well-equipped kitchen. You may leave a stove, microwave, even a dishwasher, and a fridge. Tenants are less likely to acquire these mainly because it is hard, even impossible to have them fitted to kitchen furniture that was not specifically designed to measure. So it is likely that your tenants will not move in with a new stove.
All in all, apart from some types of appliances, leaving your personal property at your long-term rental property reduces the market value and appeal of your property instead of adding value. We strongly advise you to move your belongings to your new home, or to a self-storage facility.