Professional let property insurance
FURNISHING Rented furniture is cheapest
Research commissioned by Roomservice by CORT has revealed attitudes to furniture provision among the UK’s residential landlords, highlighting the trends within the industry and identifying areas for possible cost savings. 59 per cent of landlords
provide furniture with at least one property within their portfolio (35 per cent let all of their properties fully furnished). Of these, the average cost of furnishing a two-bedroom property is £2,904, with 77 per cent replacing some or all of the furniture within four years.
‘Landlords aren’t taking advantage of the benefits of furniture rental.’
Roger Hollis, MD of
Roomservice by CORT, comments, “This research, while designed to help us serve our customers better, has clearly shown how landlords are failing to take advantage of the benefits that furniture rental can bring. “Not only does rental work
out cheaper for the 77 per cent of landlords that replace their furniture within four years, but there are also the hidden savings associated with freeing up capital and not having to replace breakages. We found this particularly surprising given that 81 per cent of landlords take furniture
costs into account when calculating rental yields.” The survey revealed where
landlords currently get there furniture from, with the majority using stores such as IKEA and Habitat and just 8 per cent renting. Over two thirds of landlords manage the furniture requirements themselves (the rest use agents or authorise tenant purchases), while the most important factors when acquiring furniture are cost (36 per cent), durability (35 per cent) and appearance (23 per cent). Roger Hollis continues,
“With landlords most concerned by cost, durability and appearance, the benefits of furniture rental become even more obvious. Not only can our service be more cost effective than purchasing, but the stylish designs we offer have been specially developed to suit a wide range of homes. “Durability also ceases to
be an issue for users of our service. Not only is the furniture hard-wearing and robust, but if there are any breakages then replacement furniture can usually be delivered within 48 hours. When this is combined with our asset management service, taking the hassle off of the landlords and saving them time and money, the advantages become greater still.” * Roomservice by CORT
research was undertaken by BDRC, with 507 respondents.
through and
through
EXPERTISE means we can deliver great let property insurance and great VALUE for money. We provide a CHOICE of cover, to suit individual requirements, backed by reliable, professional advice. Our online Quote and Buy system makes arranging cover really quick and easy and is supported with friendly and efficient customer SERVICE.
Contact us to see how we can add value to your service and build a significant additional income stream for your business.
Tenant assessment • Landlord’s buildings & contents Rent & legal protection • Tenant’s contents
Professional Let Insurance Services you can confidently recommend to your clients
To find out more call 0844 478 0202
or visit
www.letinsurance.co.uk Let Insurance Services is authorised and regulated by the Financial Services Authority No. 474985
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66