Making your house a home for Alcove tenants has never been more rewarding
Everything you need to know to maximize the revenue of your Alcove home can be found below. Return on investment for shared space furniture are estimated between five and nine months. After that, you continue to own the furniture and keep all additional earnings.
NOTE: This offer is just for the shared space furniture. See "Bedroom Furniture" at the bottom of this page for more info.
Furnishing decisions must be made at the time of applicant approval. The options are laid out below.
Options for Furnishing your Shared Space:
|Option #||Pays for Furniture||Manages Furniture Setup||Furniture owner||Estimated Additional Revenue||Cost|
|1. Landlord DIY||Landlord||Landlord||Landlord||$200-280/mo Increase||$1300 - $2500*|
|2. Pay Now||Landlord||Alcove||Landlord||$200-280/mo Increase||$1900**|
3. Rent from Alcove
|Rented through Alcove||Alcove||Alcove||$0||$240/mo|
|4. Tenant Managed***||Tenant***||Tenant***||Tenant***||$0||$0|
*Estimated range assumes landlord purchase of new furniture and hires help to setup. May be cheaper if pre-owned and self-setup.
** Payment deducted from landlord's future rent. Ledger will be updated accordingly
*** Option is ONLY available for 2 bedroom properties. NOT available for 3+ bedroom properties.
Option 1: Landlord DIY
Estimated Landlord Upfront Costs: $1300 - $2500
In choosing Option 1, landlords take on full ownership of furnishing their Alcove home's shared space. Alcove recommends landlords order furniture no less than 10 days before the first tenant lease starts. This should provide enough time for shipping and setup. Expect some of the furniture to require assembly. Not an Allen Wrench fan? Try hiring a Task Rabbit.
Alcove is very supportive of an environmentally sustainable approach by furnishing the home with pre-owned furniture. That said, re-used furniture should be like new or gently worn, professionally cleaned, and free of tears, rips, holes, and odors.
Option 2: Landlord Pay Now, Alcove Order and Setup
Landlord Upfront Costs: $1900
For Option 2, Alcove will handle all ordering, shipping, and setup. Alcove in-turn will deduct the $1900 payment from the first rent payments until payment is collected in full. No immediate out of pocket costs for the landlord.
Option 3: Base Option - Alcove Purchased and Managed
Landlord Upfront Costs: $0 Landlord Monthly Costs: $240
Owner rents the furniture from Alcove. We will set up the shared space furniture before the first tenant move-in. Landlords will still be expected to ensure all other aspects of the home are move-in ready for the first tenant. Rent estimates will not include an increase for shared space furniture.
Option 4: Tenant Managed - TWO BEDROOM ONLY
Landlord Upfront Costs: $0
For a two bedroom property, landlords may choose to list and rent their property without any shared space furniture. Listings will be noted accordingly. Tenants will be responsible for all shared space furnishings.
What to Buy:
Required and Recommended Furniture:
Furniture requirements differ based on the number of bedrooms in your property.
|# of Beds||Required Furniture||Recommended Furniture|
|4 Bedrooms||3 Bedroom Set, Plus:
4 Bedroom Set, Plus:
Examples of Alcove's Favorite Buys:
Couch / Sofa
Dining Table Set
Coffee Table Set
Legacy Alcove Properties:
Landlords and property managers of current Alcove properties interested in installing their own furniture should reach out to the Alcove Landlord Partnership Team to determine what, if any, offers Alcove may provide to remove the Alcove furniture and have the landlord setup their own.
We strongly recommend that bedrooms are kept unfurnished. Alcove is a long term leasing platform. We cater to housemates who typically stay for 12-15 months and bring their own bedroom furniture items.
By providing bedroom furniture items, landlord accepts responsibility to maintain and to remove the bedroom furniture provided (if requested by tenant) in the property, which can create additional work and costs for the landlord.
When tenants move out, landlords may need to clean, repair, or replace damaged furniture before the next tenant moves in. By keeping bedrooms unfurnished, landlords can avoid these additional tasks and costs, making the turnover process quicker and more efficient.