Hong Kong property agents turn to rental furniture to stand out from the crowd

Foerni, a new online furniture subscription platform, started offering its services to landlords in response to growing interest after the Covid-19 outbreak

Along with saving on upfront costs, renting furniture allows landlords to bring in higher-quality pieces that can be deal makers

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Flexibility is an asset for landlords and tenants given Hong Kong’s uncertain political future, says Foerni’s Wetzer. Photo: Handout

Published: 7:30am, 15 Dec 2020Updated: 7:29pm, 15 Dec 2020

Hong Kong’s property agents and landlords, facing one of the city’s most competitive housing markets in years, have turned to furniture rental as an affordable way to spice up their offerings and help them stand out from the crowd.

Foerni, an online furniture subscription service that was aimed at individuals when it launched this year, saw interest from landlords spike after the Covid-19 pandemic started taking its toll on the local economy.

By the summer it had expanded its services to commercial and residential property managers, allowing them to rent pieces of furniture for individual or showpiece units for anywhere from three months to three years.

Not only did the service prove useful for saving on upfront costs and eliminating the hassle of furnishing, but it is also a cheaper way to bring in better quality pieces that can sometimes end up being the deal maker for a potential buyer.

“Landlords are really now in a position where, probably for the first time in a long time in Hong Kong, they really have to work on setting themselves apart,” said Pauline Wetzer, Foerni’s founder and chief executive. “Not only to get a tenant signed, but also to reach the yield they are budgeting for.”

Pauline Wetzer, Foerni’s founder and chief executive. Photo: Handout

Units that are well furnished lease at higher prices, they lease faster, they sell more easily, said Charles Slater, a consultant with Habitat Property, which has worked with Foerni on at least four projects over the past few months.