A furnished NYC apartmentMany of the same factors that have powered a strong rental market are driving a demand for furnished apartments, New York Magazine reported.

Turnkey apartments tend to offer shorter term leases, which appeal to renters who consider their current job temporary or are putting off purchasing decisions. They don’t want to invest in furniture if they believe they won’t be in the apartment for long. Another group prefers the short-term leases that characterize furnished apartments because they are typically quicker to process and require less paperwork. Regardless, they are faced with higher costs.

“In general, anything that rents for less than a year and is furnished will come at a premium — at least double,” said Jeff Schleider, managing director of Miron Properties…. [more]