Should You Offer Furnished Rentals in OKC? The Pros and Cons of Renting Out Your Furnished Rental

When it comes to renting out properties in Oklahoma City, landlords and property investors are constantly weighing their options. One growing trend that has piqued interest is furnished rentals. Whether you’re considering long-term leases or diving into the booming short-term rental market, furnished rentals offer unique opportunities—and challenges.

In this blog post, we’ll break down the pros and cons of furnished rentals in Oklahoma City, specifically for both long-term and short-term tenants. We’ll explore the ins and outs of furnished rentals, particularly as they relate to platforms like Airbnb and other short-term rental services, and how property owners can maximize their investment in both sectors.

Why Consider Furnished Rentals in Oklahoma City?

Before diving into the pros and cons, it’s important to understand why furnished rentals are becoming an increasingly popular option for landlords in Oklahoma City.

1. Changing Demographics: With the rise of remote work and travel-based professionals, more people are seeking flexible housing options. Travelers, business professionals, and even temporary workers find furnished properties ideal for mid-term stays. Whether it’s a medical professional on a short-term contract or a remote worker in need of a home office, furnished rentals can offer the flexibility people are looking for.
   

2. The Airbnb Effect: Platforms like Airbnb, Vrbo, Booking.com and other short-term rental services have changed how people rent properties. Guests no longer expect just a place to stay; they want an experience. A well-furnished space creates a welcoming atmosphere that can significantly improve your chances of attracting guests and securing bookings.

   
   

Pros of Furnished Rentals for Long-Term Tenants in OKC

1. Higher Rent Potential

Furnished rentals often come with a premium price tag, especially when compared to their unfurnished counterparts. In Oklahoma City, furnished rental rates can range from $1,200 to $2,500 per month depending on the neighborhood, size, and amenities. Tenants are typically willing to pay a bit more for the convenience of moving into a home that’s ready to go. With Oklahoma City’s growing popularity among corporate tenants, medical professionals, and temporary workers, furnished rentals are an attractive option.

2. Appealing to a Niche Market

Not all tenants are looking for traditional unfurnished leases. A growing number of people are seeking flexibility, which is where furnished rentals shine.

These tenants might include:

• Relocators: People who are moving to Oklahoma City for work, education, or other reasons often prefer furnished homes while they search for more permanent housing.

• Traveling Professionals: Professionals in fields like medicine, consulting, and engineering often need temporary housing arrangements with minimal hassle.

• Military and Federal Workers: Oklahoma City has a substantial military presence, and workers moving in and out often need flexible, short-term living options.

3. Appeal to Students and Interns

Oklahoma City is home to several universities and corporate hubs, which means plenty of students and interns need temporary housing. For these individuals, the furnishing of a rental property can be a major selling point.

For example, OU Health Sciences Center and Oklahoma City University attract students and professionals who may only be in the city for a year or less, making furnished rentals ideal.

Pros of Furnished Rentals for Short-Term Tenants (Airbnb, Vrbo, etc.)

1. Higher Nightly Rates

One of the most significant advantages of furnished rentals is that they allow property owners to capitalize on the short-term rental boom. Sites like Airbnb, Vrbo, and Booking.com allow owners to list their furnished properties, often at a much higher nightly rate than unfurnished units.

• Airbnb Rental Market: Oklahoma City has seen a significant uptick in tourism, especially in areas like Bricktown, Midtown, and Deep Deuce. These districts are home to exciting restaurants, arts venues, and entertainment options that attract both leisure and business travelers. Furnished properties in these areas can command competitive nightly rates.
  

• Occupancy Rates: Short-term rentals often have higher occupancy rates because they appeal to a wide range of guests—families, business travelers, and tourists. The high turnover rate ensures that properties are regularly booked, maximizing the potential for higher revenue.

  
  

2. Flexibility in Rental Terms

For property owners who prefer a more hands-off approach, short-term rentals provide flexibility. You’re not tied into long leases with tenants who may be difficult to manage. The transient nature of short-term rentals allows you to rent out your property when you’re ready, without worrying about long-term commitments. Airbnb also lets you adjust pricing based on demand, ensuring that you're always getting a competitive rate.

3. Strong Demand for Temporary Stays

In Oklahoma City, there’s growing demand for temporary furnished housing due to a variety of factors:

• Tourism: With major events like the Oklahoma City Memorial Marathon, NBA games, and the Oklahoma State Fair, tourism provides a continuous influx of guests needing short-term accommodations.

• Business Travel: Companies and organizations often send professionals to Oklahoma City for conferences, meetings, or temporary work. These workers prefer staying in comfortable, fully-furnished accommodations rather than hotels.

Cons of Offering Furnished Rentals in OKC

1. Higher Initial Investment

Furnishing a rental property involves more than just adding some chairs and a bed. High-quality furniture, appliances, kitchenware, and decorative items add up quickly, and your initial investment can range from a few thousand dollars to tens of thousands depending on the size and condition of the property. While this can pay off with higher rents, it’s important to carefully budget and plan for these upfront costs.

2. Ongoing Maintenance and Repairs

Furnished rentals come with the added responsibility of maintaining the furniture and appliances. Unlike unfurnished units where tenants provide their own, landlords are responsible for replacing and repairing any damaged items. This can add to the maintenance costs over time.

Airbnb guests, for example, are more likely to cause wear and tear compared to long-term renters due to the frequent turnover and the short-term nature of their stay.

3. Higher Turnover and More Frequent Cleaning

Furnished rentals typically appeal to tenants with shorter-term stays, leading to higher turnover rates. Each turnover requires cleaning, preparing, and staging the property again. For short-term rentals, this means paying for professional cleaning services, restocking essentials like toiletries and linens, and managing bookings. These additional tasks can be time-consuming and require more organization than long-term rentals.

How Upventures Can Help Maximize Your Investment in Furnished Rentals

Whether you’re leaning toward furnished long-term rentals or exploring the short-term rental market with platforms like Airbnb, Upventures is here to guide you every step of the way.

Our team has years of experience managing both types of properties, ensuring they remain competitive in Oklahoma City’s dynamic rental market. From staging and furnishing your property to marketing on top-tier platforms, we’ll make sure your investment performs at its best.

We also handle the day-to-day management of both long-term tenants and short-term guests, including rent collection, maintenance requests, cleaning, and guest communications. With our local expertise and comprehensive services, you can rest assured your property will shine—whether it's rented out for a few nights or several months.

The Right Choice for Your Property

Choosing to offer a furnished rental in Oklahoma City can unlock the potential for higher income and a broader range of tenants, whether you’re catering to short-term Airbnb guests or longer-term corporate or academic renters. While there are costs and challenges associated with furnishing your rental, the benefits—particularly in terms of demand and higher rental rates—make it a compelling option for many landlords and investors.

By evaluating the pros and cons of furnished rentals in Oklahoma City for both long-term and short-term tenants, you can decide which strategy best aligns with your goals. And if you need assistance navigating the logistics, Upventures is always here to help.

Need help managing your furnished rental in Oklahoma City? Whether you're considering long-term leases or diving into the short-term rental market, contact Upventures today to find out how we can assist you in optimizing your property and maximizing your rental income.