Furnishing a short-term rental can get expensive fast. Between bedrooms, kitchens, bathrooms, outdoor spaces, safety items, and all the little extras, the budget can blow before you even realize it. You need a realistic budget. Know where to save and when to spend the little extra. I love high-end properties, but I don’t have that budget. So here is an example of a realistic furnishing list and budget that didn’t cause us to go into massive credit card debt to start our short-term rental.
Our Real STR
We spent about $20,000 furnishing our four-bedroom, two-bath short-term rental that sleeps eight guests. This includes all linens, towels, and extras that aren’t furniture.
That total does not include most of the major kitchen appliances or the washer and dryer, since those were already in the house. Almost everything else needed for the rental had to be purchased, including beds, mattresses, furniture, linens, kitchen supplies, TVs, bathroom supplies, and outdoor items.
Your budget may be drastically different depending on the size of your rental and what is already at the property. In the following sections, I’ll break down where we spent more or saved money. Also, where we should have saved instead of spending more.
Bedroom Costs
Bedrooms take a large amount of the budget. The mattress is going to be one of the most important items you buy. A bad night’s sleep will lead to cranky guests and a bad review. Make sure the basics are there. They don’t have to be luxury, but they need to be there.
For anyone furnishing a bedroom, here is a list of items you need to make sure to have.
- Mattress
- Sturdy bed frame (the more weight it holds, the better)
- Mattress protector (It needs to be an encasement cover. This helps prevent bedbugs)
- Sheets (at least 2 sets per bedroom; you need a backup)
- Comforter or duvet with cover (at least 2 per bedroom)
- Blackout curtains or shades (if you want to really make guests happy, do both)
- Nightstands and lamps
- Storage (even if you have a closet, guests love suitcase stands. They are cheap and don’t take up much room.)
- Décor
Décor can be added later. A comfortable bed, clean linens, good lighting, and somewhere for guests to put their belongings are much more important when you are first getting started. A very cheap add-on that guests love is phone chargers. I have a cheap multi-charging cable for guests, and they love it.
We spent about $1,200 to $ 1,600, depending on whether we added a TV to the bedroom. Guests love a TV in the bedroom. They want to relax on vacation. Unless you have a no-electricity cabin, put a TV in one bedroom. Better yet, all bedrooms. But at least the primary bedroom should have a TV. We spent a little over $5,000 to furnish all the bedrooms, including linens, pillows, mirrors, and a TV in the primary.
Living Room Costs
At a minimum, most short-term rentals will need comfortable seating, a coffee table or side tables, lighting, a TV, and enough space for the number of guests the property sleeps. The most important thing is that you have seating for the number of guests your house sleeps.
I got my sectional sofa from Wayfair. It is faux leather and easy to clean. They have some amazing deals and have relatively cheap options. I spent about $1,500 for a larger sectional. It is comfortable enough. It will probably only last a couple of years, but that gives me plenty of time to save up for a better one. It is a great budget-friendly option.
If there is room, adding a chair or two is a great option. People don’t always want to sit on the same sofa. Some want a reading chair, or just a little more personal space. It makes the space feel complete.
A coffee table is preferred. But if you don’t have enough for a coffee table, a few side tables will work well. A bright overhead light is nice, but even if you have that, add a lamp or two. Most people enjoy a smaller light at some point during the day. It is cheap to add a lamp, but it makes a huge difference.
A rug to tie it all together is nice. It isn’t necessary, but overall it creates a more comfortable feel. If the budget doesn’t have room for a rug, don’t let it stop you from listing your property, but get one when you can afford it.
Smart TV. It doesn’t need to be expensive. We get them from Walmart. They are reasonably priced and simple for guests to use. Guests can sign in to their streaming services.
I had a larger living room to furnish. Between the sectional, chairs, side tables, rug, lamp, smart TV, and TV mounting bracket, we spent about $4,000. We couldn’t afford an expensive sectional, so we chose to spend a little more on chairs to make sure they were comfortable. Add a cheap throw blanket or pillow if you want to make it look cozier. The living room doesn’t have to be complicated, especially when you are just starting.
Kitchen & Dining Room Costs
Kitchen costs can vary a lot depending on what is already in the property. In our case, the major appliances were already there. If you need to purchase a refrigerator, stove, dishwasher, microwave, or other major appliances, your total furnishing cost can increase by several thousand dollars. Home Depot has sales on appliance packages. You can find decent deals by buying a full package. It’s not super cheap, but a better deal, especially when they are running sales.
Since we didn’t have to buy appliances, we spent around $2,000. This included a kitchen table, coffee pot, single-cup coffee maker, dishes, pots and pans, a few small kitchen gadgets, and some other random small stuff. I should have visited the thrift store or garage sales for some of the kitchen gadgets.
I include cookware, dishes, utensils, small appliances, and other kitchen supplies as part of the furnishing cost because they are necessary.
The kitchen will make or break you as a host. Guests who book a short-term rental with a kitchen almost always expect to cook. I have this guide dedicated to kitchen items.
At a minimum, you will likely need:
- Pots and pans
- Baking sheets and basic bakeware
- Plates, bowls, glasses, and coffee mugs
- Silverware
- Cooking utensils
- Knives and cutting boards
- Coffee maker
- Toaster
- Food storage containers
- Dish towels, oven mitts, and basic cleaning supplies
- Dining table and chairs
- Please read this guide for a full list. Again, I can’t stress this enough make sure to have a fully stocked kitchen!
The dining table and chairs can be one of the more expensive purchases in this area. I would focus on something sturdy, easy to clean, and large enough for all your guests. My table has scratches, and the chairs are the ones we had. No guests have ever complained. Everyone has just been happy they can all fit around it and enjoy time together.
Bathroom Costs
Bathrooms are cheaper compared to many other areas in your short-term rental. If you happen to be one of the rare properties without a mirror, please make sure to add one.
Towels are one area where you will need extra. Have extra on hand because it is only a matter of time before towels get destroyed. No one wants a last-minute rush to the store to pick up more because towels got ruined and now there isn’t enough. I recommend having enough for two towels per guest. And enough backup for another stay.
Here is a bathroom guide for a full list of items you should have in the bathroom. This assumes there are already vanities, toilets, showers, or a bathtub in the bathroom.
Tip – If you can, add a few hooks for people to hang towels or items they are used frequently.
Guests care much more about a clean bathroom, plenty of towels, good lighting, and somewhere to hang their clothes than expensive décor.
Outdoor Space Costs
Not all rentals have outdoor spaces, but if you have outdoor space, this can make your property special. If you have a rural property, you should look for a space with outdoor room.
It can greatly depend on your area, but if at all possible, I would recommend a hot tub. Look at listings around you. Is it required to compete in your area? In mine, it is now, but it makes my property stand out greatly. People book solely for the hot tub.
Some places won’t stand out unless there is a pool. But every property I have looked at with a pool was way out of our price range. So we are leaving a pool out of this guide.
A hot tub is what we spent the most on. We made the mistake of spending too much. We should have gotten one that was actually cheaper. If you are looking to add a hot tub but don’t want to spend $10,000 to $15,000, look at walmart.com or wayfair. The hot tubs cost anywhere from $2,500 to $5,000. You will most likely need an electrician to set up the electrical for you. As in all rentals, people will be hard on things. The expensive hot tub we bought won’t last as long in a rental vs. if it were just for our personal use. I wish we had saved thousands and gone with a cheaper model so it would be easier to replace when it breaks.
If the hot tub and maintenance are too much, then a sauna is another great choice. Barrel saunas are an amazing addition to a property. Again, it would require someone to set up electrical for most. But it can really help bookings in the off-season and fill your calendar. Wayfair has some good options.
Other common outdoor purchases include:
- Patio or deck seating
- Outdoor dining table and chairs
- Grill (many people ask for a grill)
- Fire pit
- Outdoor lighting (string lights are cheap and beautiful)
- Outdoor games
- If you are in a sunny area, create a shaded spot
Start with the basics and add more over time. A comfortable place to sit and enjoy the property is more important than filling the yard with expensive extras.
Larger amenities can change the budget significantly. Hot tubs, saunas, docks, play sets, or major landscaping projects can cost thousands of dollars. It may be helpful to treat these as separate upgrades rather than basic furnishing costs.
We invested in a hot tub, outdoor chairs, and an upgraded fire pit. We also installed horseshoes, a bocce ball game, and corn hole. There is some older outdoor furniture on the deck that isn’t amazing, but we use it, and guests still love it. The furniture will be upgraded eventually, but for now it works, and guests love it. Between the hot tub, fire pit, chairs, and games, we spent about $8,500. The hot tub took the majority of that budget.
Eventually we will add a barrel sauna, steps for easy access to the river, and an outdoor eating area. But those would not fit in our start-up costs. Keep track of what guests use, say they enjoyed, and request or say would be a nice amenity.
Safety Items
Safety items are important to remember. These include items like:
- Smoke detectors
- Carbon monoxide detectors
- Fire extinguishers (have one in the kitchen)
- First-aid kit
- Flashlights
- Secure exterior door locks or a smart lock
These are all pretty affordable but can add up. Don’t forget to have them on the list.
Ways to Lower Startup Costs
You do not need to buy everything brand new or have the property perfect before your first guest arrives. One of the easiest ways to keep startup costs under control is to focus on what guests actually need and add extras later.
A few ways to lower your initial furnishing costs include:
- Use what you already have. If you already own furniture, appliances, TVs, kitchenware, or décor that fits the space, use it.
- Buy secondhand furniture. Dining tables, nightstands, dressers, patio furniture, and décor can often be found for much less through local marketplaces or thrift stores.
- Spend more on the important items. Mattresses, linens, and safety equipment are usually worth prioritizing.
- Save on décor. You do not need expensive artwork, designer furniture, or perfectly styled rooms to open a successful rental. Spend minimal amounts on this in the beginning and add more as you can afford it.
- Shop sales and clearance. Furnishing an entire property gives you plenty of opportunities to wait for discounts on larger purchases.
- Start with the basics. You can add extra appliances, games, outdoor amenities, and decorative items after the rental starts generating income.
- Avoid buying things just because other hosts have them. Every property is different. Buy what makes sense for your guests and your space.
We spent around $20,000 furnishing our four-bedroom short-term rental, but that does not mean you need to spend the same amount. The size of your property, what you already own, and how much you are willing to buy used or add later will determine your cost.
Create your priority list and add a budget. This should give you a good idea of all the items needed for a property.