Everyone will tell you they want well-made, sturdy furniture, particularly when it comes to vacation rental properties listed on platforms like Airbnb and VRBO. But budgets are a real concern with profitability in this category, particularly with mortgage rates being so high. How do you balance quality with affordability in today's furniture market?
The first step is to ignore product pricing altogether when beginning your search. Follow our methods below to find the best products for the use case.
We know interior design and room appeal are critical to getting bookings in 2024's ultra-competitive landscape. To paint the picture of how much growth this industry has faced, available short-term rental listings reached 1.38 million in year-end 2022, up 23.3% year over year, +7.0% vs. 2019. This is according to data published by AirDNA in September of 2022. Gone are the days of throwing together ratty used furniture from Goodwill and making huge profits on your property. However, not everyone has the budget to outfit the home with exceptional furniture.
There is an endless mountain of options available to investors when it comes to furnishing their homes. It's hard to know which way to turn on sites like Wayfair and Amazon where options are plentiful and the pictures online are so dazzling. Below we are compiling some tips and tricks to keep in mind when sourcing furniture for short-term rental properties when budget is at the forefront.
How much assembly is required?
Factory-assembled furniture is always going to be better quality than something you hammered and glued in your garage. If a piece of furniture takes 3 hours to assemble, think about how much your time is worth and what higher-margin activities you could be doing with your time. Look for "assembly required" on the item description and take the time to download assembly instructions if they are available. We look for minor assembly items which may include putting things like drawer handles and legs on. This is okay and even expected. What's not okay is completely assembling drawers. Pay the extra $200 for something assembled and you won't regret it.
What is the weight capacity?
People come in a variety of shapes and sizes and your furniture needs to be up for the challenge. Not only will you have to deal with replacing broken furniture, but you'll likely need to refund an upset guest. Worse, there could be an injury you are liable for, so it's important to not overlook this. Double-check your bed frame's weight capacity. Triple-check the limit on dining chairs and occasional chairs. Bunk beds are a serious concern, so make sure the weight is substantial.
What material is the furniture made of?
Solid wood is a good choice for furniture. MDF wood is soft, easily cracks, absorbs water, and when it gets damaged usually there is no fix available. Acacia, teak, and pine are good wood options at affordable prices. We also love reclaimed wood furniture pieces. You'll get solid wood at a lower price. The wood has some distressing, but this can be a great thing in cabins and rustic properties.
Another thing to pay close attention to is cushion material. If it's low-priced and foam, expect some warping over time. What fill is inside the decorative pillows? Down blends will give you a lux look.
What hardware is holding the furniture together?
Now that you've downloaded the assembly instructions, look at the hardware parts list. If it's a bed, look at the size of the bolts holding the frame together. You're looking for sizeable bolts with nuts that bind tightly together. Look at the legs supporting the bed frame. Do they seem stable?
At Guested, we've done all this work and only carry products that pass our test. At the end of the day, our biggest tip is to not look at the price when choosing furniture. Look at the assembly instructions, the materials of the item, the item weight capacities, and what hardware pieces are holding the pieces together. Sometimes this means a higher price, but it doesn't have to. And if there's a difference between $200 and hours and hours of assembly work, please, run fast.
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