You have purchased your first short-term rental property… Congratulations!!! You are super excited and then reality sets in…. You have a 4-bedroom home to furnish… How are you going to pull that off? Can you do this remotely? What is the “best” way to get the job done? What’s the next step….
The first step, is to decide if you will be designing the layout yourself or are you going to hire a designer? There are ton of options available from local designers to on-line design teams. Wayfair professional even offers a design option. Either way, you can do this remotely.
The next step is sourcing your furniture and we will run through a few options. (If you hire a designer they will assist with this part so the next section is really for the do-it-yourself owner…)
1. Locally source your furniture
This is the most time-consuming option but can have its benefits in certain markets. For example, in one of our markets the local furniture store had nice furniture and offered to remove the old furniture, when setting up the new furniture. This was great for a remote set up. One of the downsides of this option was time. Because this was a local store the time for delivery was longer than national stores.
If time is limited, we go with a national brand and then hire a handyman to set up and remove existing furniture.
We also like the local option for unique artwork. In general, you can source most artwork on-line and then add to the look with some local pieces.
2. Mid-range to luxury Brands
Pottery barn, West Elm, Castlery, Restoration Hardware, are great brands but there is a balance between luxury, price point, and time to delivery. We have experienced some difficulty with delivery time with these products and have found similar products on Wayfair with faster delivery times. Now, to be fair we are not claiming that a Wayfair couch is equal to a Restoration hardware couch… but we have found similar bathroom finishes, platform beds and other furnishings that arrive in one week.
3. Amazon
Amazon is a great resource for quick resupplies of consumables, video games, and even TVs but we do not use Amazon for standard furnishings. This is our go to for wii consoles, board games, consumables, and quick resupplies when needed.
4. Bed Bath & Beyond
Bed, Bath & Beyond is fantastic for Kitchen set-up. We use BBB to source pots, pans, silverware, glassware, Keurigs, night stand lamps, linens and more… There is a yearly membership available that allows you to apply their coupon discount to all purchase items. The discounts make the annual membership fee worthwhile. You can shop and pick up supplies in person or order on-line and deliver. It is nice having both options available.
5. Wayfair Professional
Our markets are mountain markets and more remote. We have experienced challenges with many different types of deliveries from Amazon to Home Depot. But Wayfair has consistently delivered over the years. Like any on-line company there are variations in furniture quality but in general we have had a good experience. All of the beds, bedroom furniture, tables, chairs etc have turned out well. Our only downside purchase so far was a nice looking, uncomfortable couch… but those are always tough to pick out without sitting on them.
One of the great features about Wayfair is the FREE Wayfair Professional Membership. This membership has some perks.
- Free delivery on purchases over $35
- Pro pricing: discounted pricing
- A dedicated wayfair professional to help you with your orders
- Design options and more
We also like the short-term rental search criteria. The website and app are organized well. Wayfair has a ton of shopping categories but our favorite is the Short-term rental section. This section allows you to easily search for what you need. For example, outdoor patio, bedroom, kitchen, gameroom etc.
There is access to commercial grade furniture at discounted prices and a massive selection. We would caution that some discounts items may not be the lowest priced option, so take your time to shop around.
With that said, we think using Wayfair is great way to get your Short-term rental up and running quickly. We hope this helps you get started on furnishing your STR.
Carpe Diem MD
Enjoy your Journey to Financial Freedom
Would you recommend a furniture store like Rooms to Go that offer 36 month 0% APR to furnish the house? That way, you don’t have to use any out of pocket money to get a property running?
Hi Theresa,
That is a creative way to finance furniture. Especially, with all the current rising interest rates. There also options through Best Buy for TVs etc. The key on any of these finance options is budget for them and to make sure to pay them off months before the deadline. If you do not pay them off in time or have any missed payments you get stuck with a large retrograde interest payment. The other thought is increasing your deductions by paying for the furniture upfront. But finding the balance that works for you is the best option.
Although I have used Wayfair tons for accent items, I ALWAYS check the inventory at Costco.com first! Except for some electronics, they have the best RETURN POLICY, as you don’t have to return items within 30 days. When purchasing during a remodel, the timing and delivery of items doesn’t always fit a 30-day window if you choose to return something. The bedroom furniture is already built an the quality is much more substantial than the starter sets I have been replacing that I had to have built from Wayfair, so consider that trade-off when making your purchases. If possible, wait for a holiday sale to purchase mattresses, appliances and TVs.
During the pandemic with supply chain shortages, I purchased 4 sets of washers/dryers as well as several dish-washers, stoves and microwaves IN STOCK, and schedule their free delivery and set-up at the time of purchase that was accurate, when several friends of mine had their renovation projects delayed waiting months for their appliances to arrive. They even have Murphy Beds, but they require a really good contractor to assemble!
After I finished remodeling and furnishing my 2-unit property, I collected the items I did not end up using, and returned them months later, without the receipt, and without a hassle. What a joy after a big project.
Hi Susan,
Costco is also a great option. Thank you
Sincerely,
Ian