Why renters choose furnished apartments for long-term stays

Over the past decade, the rental market has changed. More renters now opt for furnished apartments, especially for long-term stays. This trend has been fueled by the increasing demand for flexibility, the rise of remote work, economic considerations, and changing lifestyle preferences.

Furnished apartments appeal to a wide range of renters. That’s because they offer a unique blend of convenience, cost-effectiveness, and flexibility. In this article, we will explore the reasons behind the growing popularity of furnished apartments, supported by relevant data and industry insights.

The rise of furnished apartments

More convenience, please

Urbanization has been a key driver in the rise of furnished apartments. As cities grow, the demand for simple and flexible housing solutions increases. Furnished apartments are particularly appealing in big cities, where space is at a premium and the pace of life is fast.

According to some reports, the demand for furnished rentals in urban areas has grown by 18% over the past five years. That’s due to the transient nature of city populations. Many of these residents value the convenience of move-in-ready spaces that remove the need to buy or relocate furniture.

Work from here, there, or anywhere

Remote work has boomed recently. This made a huge impact on the rental market, especially after the pandemic. With more people working from home, the need for flexibility in housing has grown.

People are less often tied to a specific location now, allowing them to find furnished apartments for short-term and long-term stays. They want a home that lets them easily move from one location to another.

Instant savings

Like with anything, money is a big factor. Due to the high costs of living in cities, renters are looking for housing solutions that offer the best value. But what makes furnished apartments a bang for your buck?

• Furniture, appliances, and other household items are included
• Utilities and Wi-Fi are often included in the rent
• Building amenities such as gyms and pools are included

Programs like Live@Blueground show the savings you expect when you experience furnished living for 12+ months.

Key benefits of furnished apartments for long-term stays

Hassle-free

Perhaps the biggest advantage of furnished apartments? Simplicity. It’s a straightforward process that requires little effort compared to moving into an unfurnished space. Renters can just bring their personal items and start living comfortably from day one. No stress of buying, assembling, or moving furniture.

This convenience is particularly appealing to those who are relocating for the following reasons:

• Work
• Studying abroad
• Home renovations
• Life transitions such as divorce or downsizing

Flexible

Many property owners offer short-term leases, from a few weeks or months to over a year. This flexibility is great for people in transition, especially those who want to “try before they buy.” Imagine testing out a new city before committing to a permanent move.

The ability to lease for shorter periods also appeals to those who may only stay in one location for a few months before moving on to the next destination. If you’re city-hopping, this kind of housing solution is ideal!

Low-maintenance

Landlords often take care of maintenance and upkeep. The burden isn’t on you. That means furniture repairs, cleaning services, and more aren’t your problem.

For busy professionals, this kind of service is a real draw. It ensures that your living space is always in good condition. Your time and effort can be spent elsewhere.

Stylish

Many furnished apartments are designed with modern aesthetics in mind. In fact, companies like Blueground have homes laid out by professional designers. This is really appealing to those who may not have the time or resources to set up a space themselves.

Property owners sometimes update the apartment’s look, ensuring that renters enjoy contemporary and comfortable living environments. This adds to the overall appeal of furnished apartments, making them a popular choice for those who value style and comfort.

Cost-effective

Furnished apartments can also be more cost-effective in the long run. After all, the cost of constantly purchasing, transporting, and setting up furniture can be significant. Furnished apartments eliminate these costs, providing a fully equipped living space at a fixed monthly rate.

Plus, many furnished apartments include utilities, internet, and smart entertainment. This all-inclusive approach simplifies budgeting, as renters only have to worry about one monthly bill. Bonus: it also removes the need to set up and manage multiple utility accounts.

Who uses furnished apartments?

Young professionals

This group often includes recent graduates who are starting their careers and may not have accumulated much furniture or household items. For them, furnished apartments provide a practical and convenient solution. It lets them focus on their careers without the added stress of setting up a new home.

Students & academics

Universities and colleges often attract a transient population that requires short to medium-term housing. Furnished apartments near educational institutions provide the ideal solution, offering proximity, convenience, and flexibility. Additionally, these off-campus furnished apartments often come with amenities like study areas and high-speed internet, which are essential for students.

Business travelers

Furnished apartments are increasingly being used for corporate housing, providing a home-like environment for employees on extended business trips or temporary assignments. It’s a more comfortable and cost-effective alternative to hotels. Corporate housing is particularly common in industries such as consulting, finance, and technology, where employees may have long-term stays in different cities or countries.

Retirees & empty nesters

As their housing needs change, older adults often downsize or relocate to new areas. Furnished apartments offer a hassle-free living solution that allows them to enjoy their retirement without the responsibilities of home ownership. The availability of short-term leases also grants them the flexibility to travel or spend time in different locations without being tied down.

Expats

For expatriates who may be on temporary assignments or unsure of their long-term plans, the flexibility of furnished apartments is particularly appealing. Better still, many of these apartments offer services such as language support and local orientation. This can be super helpful for those new to a city or country.

Challenges & considerations for renters

Higher monthly rent

One of the main challenges associated with furnished apartments is the higher monthly rent compared to unfurnished options. The added cost of providing furniture, appliances, and other amenities is typically passed on to the renter.

However, when factoring in the cost of purchasing furniture, movers, and setup, many find that the overall expense of a furnished apartment is comparable or even lower. Renters need to carefully consider their budget and long-term financial plans before committing to a furnished rental.

Limited personalization

Another potential drawback? The limited ability to personalize your space. Since the apartment comes pre-furnished, renters may not have the freedom to decorate or arrange furniture the way they’d like. Of course, some landlords may allow minor adjustments to the decor.

Wear & tear of furniture

Over time, the furniture and appliances in a furnished apartment may show signs of use, which can affect the overall appearance and comfort of the space. While landlords are responsible for maintaining and replacing these items, renters should be aware of any potential liability for damages beyond normal wear and tear. Remember to review the lease agreement carefully and understand the terms regarding maintenance and repair responsibilities.

Final thoughts

The growing popularity of furnished apartments for long-term rentals reflects a broader shift in the rental market towards convenience, flexibility, and cost-effectiveness. As more people seek housing solutions that align with their dynamic lifestyles and changing needs, furnished apartments offer an attractive option that meets these demands.

From young professionals and students to expats and retirees, a diverse range of renters are finding value in the convenience and flexibility of furnished apartments. Looking for a furnished home for short or long-term stays? See how easy Blueground’s turnkey housing experience makes it to move in and stay for as long as you want. We hope to host you soon!