Oftentimes, properties in a given area are similar, which leads to tenants selecting a property based on amenities. As a first-time landlord, you might be wondering how you can break into the market of a particular area. If you want your property to be successful and be the first choice of the majority of potential renters, you should focus on highlighting the best amenities your property has to offer.
Here are the 11 top amenities (and one bonus feature) that renters can’t resist when picking their new home:
1. Flexible pet policies
More and more people are choosing to get pets. Due to this growing number of pet owners, it’s only logical that many are looking for rentals with flexible pet policies. Most owners view their pets as full-fledged members of their families, and pets can offer emotional support, as well as greatly relieve stress.
Being welcoming to pets will set your property apart when it comes to choices for renters with furry friends.
2. Soundproof walls
Paper-thin walls allow noise to enter inside a rental unit, which is a common source of annoyance for many tenants. Since outside noises are hard to control, soundproof walls are appreciated. It’s also reassuring not to hear your neighbor’s business.
This can alleviate gossip and escalating conflicts, so it’s best to ensure your walls are soundproofed and gap openings are sealed. Soundproofing translates to more privacy for your tenants and a more peaceful environment overall.
3. Updated kitchen
Since most residents spend a lot of time in the kitchen, it’s easy to see why they would like a kitchen that has been recently upgraded. Consider modern appliances for more energy efficiency.
Improve storage spaces, replace old faucets and add backsplash tiles. Make the flooring easy to clean and create a kitchen layout that maximizes the space.
4. Safety and security
A tenant’s priority will always be the feeling of safety in terms of habitability. Make sure your rental unit has security safeguards such as alarm systems, adequate outdoor lighting and secure safety locks.
Nobody wants to confront intruders in the dead of night. In case of fire, a good smoke detector and working fire alarm is also expected.
A rental at the right price, but with a questionable security system, does not instill much confidence in tenants, and will likely be avoided.
5. Outdoor spaces
Extra outdoor space is a valuable feature for many rental properties. This can be in the form of patios, yards, and balconies. Being confined inside a rental unit most of the time can be constricting. Tenants want to have space for gardening or to gather around for a barbeque party.
An empty lot brings lots of potential. If your target market includes families, outdoor spaces are all the more attractive, because young children need a roomy space to play.
Location, location, location! People like proximity and being able to walk anywhere saves time, effort and transportation costs. If the location of your rental unit is near convenience stores, restaurants, schools and parks, it will be more appealing to prospective tenants.
If they forget to buy a certain ingredient, they can just take a quick trip to the grocery store on the next block. If they have no time to cook, they can also just order from a local restaurant and pick up the food nearby. Meeting friends and family easily outside is also highly convenient.
7. Well-maintained spaces
Tenants prefer to stay in a rental unit where there are less property maintenance issues to confront. Calling up frequently to report a broken down appliance or an interrupted service can be a hassle. You should ensure your property’s amenities are fully functioning.
Once your tenant has moved in, regularly inspect the property to prevent maintenance and repair problems. If you’re consistent when it comes to maintenance, then tenant loyalty is easier to expect.
If your neighborhood is not near any public transportation, chances are good that your renters will be driving their own vehicles. In this case, a garage or parking area is one of the features that will be highly sought.
In urban locations, space can be dense. You can focus on making your available parking area a prime selling point when advertising to your prospects.
9. Plenty of storage
Your target market might include young families, or young professionals. Either of these groups highly value extra storage space in their rentals, such as walk-in closets, for clothes, toys, and cleaning products.
When doing renovations, note this and make sure there’s ample closet space. With plenty of products in the market, it’s so easy to fill storage spaces. Storage is a highly valuable feature in any rental!
10. Washer/ Dryer
When you rent out a furnished unit, make sure to include a washer/ dryer. Tenants are attracted to convenience and doing the laundry is part of daily living.
In states where winter can be severe, a dryer helps ensure that clothes easily dry out, and also can add an element of comfort during the chilly months of the year.
Although you can expect some tenants to have their own, it’s still a good idea to have a ready-to-use washer and dryer in your rental unit.
11. Air conditioning and heater
When humidity strikes, especially in cities with warmer climates, air conditioning can be a lifesaver. It’s desirable to have a central air unit, which not only helps with air circulation, but is also more energy efficient.
On the other hand, cities with harsher winters also need heaters to make a tenant’s stay more comfortable. In fact, Florida law states that a property must be habitable and include fully functioning and well-maintained HVAC systems.
Bonus Feature: Smart Home
As technology continues to advance rapidly, so does our connectivity with our homes. Homes are transforming it into smart spaces, connected by the Internet of Things.
Controlling the lights and temperature with an app is the way of the future. It will also impress a younger set of renters who are early adopters of tech.
Smart homes combine efficiency and convenience making it hard to resist as a bonus amenity. Consider adding some connectivity to your property to entice these tech-savvy tenants!
The Bottom Line
It is important to offer features that tenants consider as crucial to their quality of life. Doing so ensures you’ll never run short of interested renters. You’ll also avoid empty rental units that can drain your money on maintenance expenses.
For more advice on enticing renters and preventing vacancies, seek out a professional property management company!