Should You Rent Your Property Furnished or Unfurnished?

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One key decision landlords face is whether to offer a furnished or unfurnished rental. While a furnished unit can bring in higher rent, it also comes with increased costs and turnover. In this episode, we break down the pros and cons of each option, share real-world examples, and help you decide which approach makes the most financial sense for your investment strategy.

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🤔 WHO AM I ❓
Born and raised in Winnipeg by immigrant parents, I watched my mother teach piano 6 days a week and my father work 18 hours a day running his 3 businesses (Good Earth Restaurant Chinese Food and Empire Printers/Jewish Post).

Not wanting me to "suffer" an entrepreneur's lifestyle, my parents steered me to a career in Science, where I graduated from University of Manitoba with a Bachelor's of Science and then went into graduate school, the plan to obtain a Ph.D and then pursue an MBA and work in the pharmaceutical industry.

This career path was cut short when I was in the 5th year of my Ph.D (27 years old), months away from graduating when two things happened simultaneously:

(1) I became disillusioned with the prospect of needing to complete not one, but two post-doctoral fellowships (6 more years of school) in order to be competitive for an entry level Assistant Professor position at the University

(2) I purchased my first rental property, rehabbed it and got all of my money back after renting it out and refinancing it (the BRRRR method). I was completely and thoroughly hooked! And the rest, as they say, is history...

I used my Masters degree to get a job with Apotex Pharmaceuticals and then eventually the Federal Virology Lab (Health Canada). This steady income allowed me to build up my rental portfolio to 20 buildings before resigning to pursue real estate full time.

I became a Realtor shortly after leaving the lab and built our portfolio to 43 buildings, 75 units consisting of single family homes, duplexes and small multifamily buildings. I simultaneously expanded our property management company (20+ staff) to manage 900 rental units for over 375 investors.

After two life scares in 2022 (they thought I had a rare brain disease with no cure/4 months to live, then I almost drowned in a boating accident 3 weeks later my All-Clear) I needed to take stock of my life and decide what I would do with this second chance.

And so, I now have a passive role in the Property Management company and focus all energies on my three passions:

(1) Real estate development
(2) Thought leadership on the challenges of being an entrepreneur.
(3) Inspiring "regular" people to passively invest in real estate in a way that is hands off, stress free and rewarding to create long term wealth for themselves and their families.

I also believe in a proper work-life balance and spend my leisure time fishing/camping/RVing with my wife Lisa and my two boys, Nathan and Evan, as well as playing rec hockey and travelling.