Rental property owners have every incentive to provide a comfortable space for potential tenants. Buildings that have good amenities attract renters who have a clean background, able to pay on time, and would not disrupt neighbors and the community.
But what do renters look for in a rental property? What features will convince them that the property is right for them? Find out below.
Your renters want a nice looking home. They want to feel as if they are living in a place that represents their taste and style. It has to be functional as well; renters want to feel like they can easily access everything that is necessary in the home. Make sure that your layout and design works for you and your renters.
Buildings with more space between rooms, such as a large entryway and dining room, often appear more spacious than those with tight layouts. Living spaces need to be open to let natural light flow through the rental unit. Lighting is key in brightening up any room — too little or too much makes the place look drab! The master bedroom should have at least one full-size closet for adequate storage space.
Many renters have pets, so you should consider whether your property will allow them. Families that have pets or plan to adopt one someday will obviously walk away from a property that wouldn’t allow their furry pals.
However, if you do allow pets, set some rules. You might let pets be in the rental, but restrict them to certain areas. Furthermore, you should ask yourself if the property will accommodate your renter’s pets. This includes whether there is space in the yard for a dog to roam freely and play, as well as what amenities are available to cat owners.
Some complexes have designated areas for pets to relieve themselves. This is very important for renters with pets, but should also be considered for other types of units. Renters should not have to walk through pet urine or feces when entering the home.
If you don’t allow your renters to have a pet, make sure they know before they sign on the dotted line.
You don’t need much to enhance the appeal of your property; just add an extra touch by providing utilities like Wi-Fi, cable TV and water/sewer access.
If you want to give your renters more than just the basics, consider the following: kitchen appliances (like a dishwasher and microwave), air conditioning/heating units, washer and dryer connections, garage or parking space (and perhaps even an on-site storage area for large items), and access to laundry facilities within the complex.
If you want to entice renters even more, provide extras like swimming pools, exercise rooms and playgrounds. Such amenities will allow renters to take a break from the daily grind and relax. These amenities also create additional value to the property because renters no longer have to go out to access and pay for these facilities somewhere else.
Privacy and Security
Every renter wants to feel secure in their rental home. Make sure your property has decorative metal fencing that, not only looks good, but protects the residents from intruders.
Install an alarm system that monitors the property and alerts the residents of any break-ins, fires or emergency. When your property is secure and functional, it will be more appealing to potential renters.
After you have established a good rapport with your tenants they will be more likely to continue renting from you if they are happy with their living conditions.
A responsive manager who listens to tenant concerns is beneficial because they can provide frequent maintenance services when needed. The tenant shouldn’t have to wait long to get a response from the manager, especially if the problem involves a feature of the property. A leaky faucet, for instance, could cause water damage to the bedroom if not tended too quickly. These problems could also ruin the experience of the renter in the property which could lead them to move somewhere else.
Marketing the property doesn’t end when the renter signs the lease. There should be an ongoing effort from management to provide them the best possible living space so that they would stick around longer.
These five features can help you to enhance the value of your property so it is attractive to potential renters. If you implement these tips into your management strategy, you will be able to offer your property to the best tenant possible!