What's the difference between furnished and unfurnished rentals?

Furnished units come with furniture and usually white goods, ready to move into, and command higher rent and a 10% security deposit. Unfurnished units are typically bare - often no wardrobes, appliances or even lights in some buildings - but are cheaper, take a 5% deposit, and suit longer stays. 'Semi-furnished' usually means kitchen appliances and wardrobes only.