We get this question very often from investors. How do you decorate your furnished apartment nicely and on budget? How do I decorate my Toronto rental apartment? What Do I Need to Put Into a Furnished Apartment in Toronto to Rent It? Beside the furniture what else do I need to include in my corporate rental apartment?
These are all great questions – the simple rule we apply is: imagine your client shows up with his/her suitcase, you need to provide everything they need to be comfortable in your furnished apartment in Toronto. Also what is often a big question mark for property owners who want to increase rental income with furnished rentals is how much you will have to spend on furniture. We have found that as you get more efficient you spend less money overall furnished your vacation rental property, and you spend more wisely on key items. What we mean by this is you know when to spend a lot on a furniture piece that will attract the attention and really stand out, and you know which items (like bed frames) will usually be more in the background.
There are the obvious furniture items like a bed, sofa, dining table, but what is more overwhelming for a lot of investors is the small items in the kitchen for example. If you would like a full shopping list of the items you should put in your vacation rental, just contact us and we’ll send you a full detailed list, everything from the mattress cover to salt and pepper shakers.
When it comes to budgeting and getting a full furnished suite furnished at minimal cost, there is no real shortcuts in Toronto to furnishing your vacation rental property; you have to put the time in and visit the furniture stores in person. Once you visit a few of them, you’ll have an idea of the costs and the style you want to use. The trick you can use is visit the store backwards, start from the back and move to the front – usually the sales furniture items are in the back of the store or downstairs. You would be surprised what discounts you can find in some very high-end Toronto furniture stores. Also ask them if they usually put their furniture or floor models on sale on a specific day of the week or during the month. Another trick we found works well is to visit the store regularly. A lot of Toronto furniture stores put their floor models on sale as they get new shipments and most do not advertise these pieces online – the only way to see them is by visiting the store.
Make it minimal – make sure it is comfortable and cozy but do not clutter it with personal items or just too many bulky pieces of furniture.
Don’t forget the accessories -You might think they’re not important butthe decorative bowls, glasses, vases, candle holders really make a place warm and welcoming – without them it will feel too sterile.
Blinds, Curtains – This is key and you should not go cheap on this item – get good blinds or curtains, they are expensive but worth it.
Sheets, pillows – We generally don’t like a lot of pillows and go for the sparse look, but some people love it. We think it is not a good place to spend a lot of money on pillows, shams and other bed decorative accessories.
Lights, lights, lights – A lot of new Toronto condos save money by providing the minimal amount of lighting, or none at all in most rooms. They just connect the light switch to the outlets and let you deal with it. We find it is critical to buy very nice lights for your furnished or corporate executive apartment. Lights are also accessories that see very little wear and tear so they can provide you value for a long time.
Keep tabs – do not get carried away, it’s very easy to see really nice pieces that would look great in your furnished suite, or another accessory that will add real character. Do not lose sight of your total budget – keep it on you as you go to stores to make sure the total does not go above your limit. It’s the only way you can run this business long term!