Property Setup - Shared Space Furniture

Making your house a home for Alcove tenants has never been more rewarding

Landlords who own and manage setting up furniture in their property's shared space will see a $200+ increase in estimated monthly rent for each property. Everything you need to know to maximize the revenue of your Alcove home can be found below. Alcove estimates a return on investment for shared space furniture 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.

The Basics:

Furnishing decisions must be made at the time of applicant approval. The options are laid out below.

Options for Furnishing your Shared Space:

*Estimated range assumes landlord purchase of new furniture and hires help to setup. May be cheaper if pre-owned and self-setup. Cost is directly paid by landlord to seller and servicer.

** Payment deducted from landlord's first month(s) 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 Monthly Rent Increase: $200-280

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

Estimated Monthly Rent Increase: $200-280

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

Monthly Rent Increase: $0

Landlord Upfront Costs: $0

It's pretty simple. Alcove buys the furniture and has the shared space setup 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

Monthly Rent Increase: $0

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. 

Examples of Alcove's Favorite Buys:

Current 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.

Bedroom Furniture:

Landlords are welcome to furnish the bedrooms, but this is not a requirement. Whatever the choice, landlords are accountable and responsible to keep their listing accurate and to get tenant buy-in should changes be made post lease signing. 

Most Alcove applicants expect to bring their own bedroom furniture. Because of this Alcove recommends landlords with furnished bedrooms be open to removing bedroom furniture for fastest lease-up process.