The Essentials of Furnishing Your First Investment Property

The cost of furnishing rental properties varies based on size, location, and the level of luxury you want to offer. Furnishing a basic one-bedroom unit typically starts around $5,000, though costs can vary widely depending on style and quality. For more upscale or design-forward rentals, the total investment can easily exceed $10,000. A well-planned budget helps ensure you stay within your financial limits while still providing a comfortable, attractive space. Investing wisely in furniture and décor can also lead to higher rental rates and positive tenant experiences.

Choosing the best furniture for a rental property means prioritizing durability, comfort, and style. Investing in pieces that are easy to maintain and resistant to wear and tear can save money in the long run. Additionally, selecting furniture with a timeless design ensures your rental remains attractive to tenants for years to come.

A well-planned checklist for furnishing a rental property ensures that you cover all essentials. Having a detailed checklist helps streamline the process and prevents missing key items. Here's what to include: 

Furniture

• Bedroom: Bed, nightstands, and a dresser or chest for storage. 

• Dining Room or Kitchen: A table and chairs, ideally seating as many guests as the home accommodates. 

• Living Room: A sofa or sectional, accent chairs, a coffee table, and a media console or TV stand. Consider adding side tables, lamps, and rugs to complete the space. 

• Office Space: A desk and ergonomic chair, along with storage solutions like shelves or filing cabinets. Good lighting and minimal décor can help boost focus and productivity. 

• Spare Room: Consider bunk beds, sleepers or futons, or other space-saving and multipurpose furniture pieces. Storage ottomans or fold-out desks can also add function without taking up too much space. 

• Décor: Artwork, mirrors, rugs, curtains, and greenery can make a space feel more inviting and cohesive. Focus on a consistent color palette, and don't underestimate the power of throw pillows, blankets, and accent lighting to bring warmth and personality to each room. 

Appliances

• Refrigerator, stove, microwave, and washer/dryer (if applicable). Reliable appliances improve tenant satisfaction and can increase rental value. 

• Essential small appliances like coffee makers and toasters for short-term rentals. Providing these extras can enhance the tenant's experience, making your property stand out. 

Décor & Accessories

• Rugs, curtains, and wall art to create a welcoming atmosphere. Thoughtful décor can make a rental feel more like home. 

• Neutral color palettes to appeal to a broad audience. Keeping designs simple and neutral makes it easier to attract different types of renters.

Safety Features

• Smoke detectors, carbon monoxide alarms, and secure locks. Safety is a top priority and can impact your rental's reputation. 

• Fire extinguishers and first-aid kits for additional peace of mind. These small additions show that you care about tenant well-being.

Outdoor Items

Seating & Dining:

• Outdoor dining set with chairs (seats 4-6) 

• Lounge seating or chairs with cushions 

• Bistro set (great for small patios or balconies) 

Comfort & Relaxation:

• Chaise lounges or reclining chairs 

• Fire pit (portable or built-in) 

• Outdoor rug & weather-resistant pillows 

Shade & Storage:

• Umbrella or shade sail 

• Outdoor storage box (for cushions or games) 

• Furniture covers 

Décor & Extras:

• String lights or lanterns 

• Planters with low-maintenance greenery 

• Welcome mat and outdoor-safe décor 

Functional Additions:

• Grill (if allowed) 

• Side tables 

• Trash bin with lid