These people are more likely to pay their rent on time and less likely to cause damage to your property, so attracting them is very beneficial. What are tenants hoping to see in a rental, you ask? Read on to find out.
Location and Safety
Location is of prime importance for so many reasons. Proximity to work, grocery stores, good schools, and parks all come into play when determining how appealing a property is. The safety and security of the neighborhood are vital to consider, especially with so much information easily accessible on sites like Niche.
Parking Options
Tenants don’t want to hear that street parking is their only option in a city with notoriously unreliable street parking. Safety plays a role here, too, since tenants may be more willing to move into a slightly less safe neighborhood if the parking options offer a sense of security.
some rental improvements to consider
Included Appliances
New homeowners understand that acquiring new appliances is a part of the deal, but tenants don’t want to deal with the hassle of lugging a new refrigerator up a flight of stairs. Equipping your unit with appliances is extremely appealing for tenants, even if it requires a bit more effort on your part.
In-unit washer and dryer setups are expensive to install but will attract the best tenants (and allow you to increase the rent).
Outdoor Space
Offering tenants the opportunity to enjoy the outdoors, whether in the form of a backyard, patio, or balcony, is very attractive. Tenants like to have the option of getting fresh air, so providing some type of outdoor space will set your property apart from others in the area.
A Good Landlord
A high-quality tenant wants a high-quality landlord—simple as that. If you’re going to find people for your rental who make your life easier, put your best foot forward and be friendly and understanding. In a perfect world, the tenant-landlord relationship is mutually beneficial, and that starts with the landlord.
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It’s important to note that you shouldn’t undertake any massive renovations without some level of financial planning. For instance, don’t add a patio or balcony to a location before making sure the addition will pay off in terms of a rent increase. Appealing to tenants is great, but don’t spend money you won’t make back.
Now that you know what tenants are hoping to see in a rental, get your property rent-ready and prepare to knock the socks off your new renters!
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