New Trend with Property Investors

Not too long ago property investors were buying places for a low price, making some minor improvements to the property, turning around and reselling them for a much higher price and earning a nice profit in a relatively short period of time. Now, with the real estate market taking such a huge downturn, property investors are left holding many properties in their portfolio and are looking for new ways to create income and pay these mortgages.

Here in Sarasota, Florida there is an increased trend for these property investors to turn-key furnish their properties and use them as vacatation rental properties. Turn-key is a term used to describe a place that is completely ready to use. In this case it means that the properties are completely furnished, including bed linens, towels and kitchenware, for the renter to walk in and start using the place immediately.

It still takes a considerble investment to completely furnish a place, especially if window coverings are involved and these investors are not used to purchasing this type of product. Being an interior designer myself, I have found it challenging to meet their budgets, but after intense research and making new supplier contacts I have found that together we can come up with a satisfactory working budget to meet their needs.

By furnishing the property and managing it as a seasonal rental these investors are creating enough income to pay for the full year of mortgage payments and they can thus afford to hold onto the properties until the market changes again.

The bonus to furnishing a property is that on average the property sells faster than those properties that sit bare.

So, if your a property investor and you haven't turned your properties into rentals, now is the time to do it, before you miss our high tourist season. It takes a minimum of 4 weeks to get the place turn-key ready, so don't wait until the last minute.