In order for a landlord to generate consistent monthly income, they need to have landed a qualified tenant for their rental. To do this you need to have an excellent marketing strategy and enticing property listing.
It’s not enough, however, to just land a tenant, you want them to stay long-term. To find such a tenant you need to offer the amenities that will entice them to stay longer and renew their lease.
Here are 8 of the top amenities that tenants look for in rental properties!
1. Pet-Friendly Rentals
More and more people own pets as such, renters want to find a place that will welcome their furry friends. While allowing pets on your property comes with some risks, there are also several benefits.
For one, you widen your pool of prospective tenants and your property becomes more competitive as other rentals in the area may not allow pets at all. You could also charge a pet deposit that will help cover any damages caused by the pet during the period of the tenancy, therefore generating an extra source of income.
To protect your investment, you can detail clear pet policies within the lease agreement to mitigate risks. You can also perform property upgrades like pacing stretch-resistant flooring into the property and removing carpet to make it easier to maintain and clean the space.
Note that you must abide by the Fair Housing Act and other rental laws before putting pet fees and other pet-related policies in place.
2. Updated Kitchens
Tenants will likely spend a lot of time in the kitchen and as such, will want a space that is functional and aesthetically pleasing. You can look at performing some kitchen upgrades by installing stainless steel appliances and granite countertops.
These kinds of kitchen upgrades add value, are durable, and are easy to clean, which are all perks in the eyes of tenants and property owners. You can also look for energy-efficient appliances that will save on utility costs.
Depending on your budget, there are several more affordable alternatives to granite that will still give the space an updated feel. Painting cabinets and installing new hardware will also freshen up the space making it more appealing to prospective tenants.
3. Outdoor Space
As important as the interior of the rental is, you do not want to ignore outdoor spaces. Offering tenants a nice patio space or garden where they can sit and enjoy the fresh air can help sell tenants on the idea of moving into your space. You should also make sure to tend to the property's curb appeal to make to rental look inviting.
If your property is located near nice parks, community pools, or dog parks, you should also highlight that when marketing the property.
4. Accessibility and Walkability
If you’re buying your first investment property or looking to expand your portfolio, you want to consider where the property is located. Ideally, you want the rental property to be located near amenities that renters want and need such as grocery stores, cafes, restaurants, parks, and other points of interest.
If your current property is already ideal located make sure to highlight that on rental listings and when speaking with prospects as this will increase the appeal of your property.
5. Safety and Security
Tenants want to know that they are safe in their rentals. They also will feel more comfortable if they know that the landlord prioritizes security and safety. With this in mind ensure that your property has functioning smoke and carbon monoxide detectors and sturdy doors, windows, and locks.
You can also look at investing in additional security measures like security cameras and motion sensor lights. You also want to perform regular inspections to ensure that the property is up to code and keep your tenants informed should any issues be spotted.
When tenants feel like their safety is a priority they will be more likely to want to rent from you long-term.
6. Property Maintained Rental
Before the tenant moves in, make sure the unit is clean and that all appliances and amenities are functioning properly. This will set a standard of cleanliness for new tenants.
Even if you ensured that the property was rent-ready, maintenance issues are bound to occur. The tenant wants to know that should a repair be needed, it will be tended to quickly. Therefore, it’s important to address maintenance requests swiftly.
You should also perform regular preventative property inspections both indoor and outdoor to spot minor issues before they become larger and more costly.
7. Ample Storage Space
Look for ways to maximize storage space in your rental. Tenants want to know that there is room for all their belongings and a way to store them so that the space doesn’t look cluttered.
Consider adding additional shelving or hooks in bathrooms and installing a sliding door to maximize small areas and look at converting unused spaces, like the area under the stairs, into additional storage.
8. In-unit Washer and Dryer
This amenity is incredibly convenient for tenants as it means they don't have to leave their homes. Having these units in your rental will make you stand out in your market thus attracting more prospects.
If you can’t offer the units, having them install the connections in the property can be a good compromise. This especially appeals to those who have already perchance and washer and dryer as they can simply move them into the property as opposed to selling them or storing them elsewhere.
Having these amenities in your rental will greatly increase the property’s appeal and help your draw in more prospective tenants.
If you would like help managing your rental properties, contact the experts at Cressman Realty & Property Management!