Although things like location, walkability, and nearby amenities matter to tenants looking for a rental home, those decisions occur before you buy the property you intend to rent out. To make your existing rental as attractive as possible to new tenants, recognize the interior and exterior features most of them look for. These changes range from the simple to the extensive, but all can make a real difference on how many applicants you attract and what they are willing to pay for their monthly rent.
WHAT DO TENANTS LOOK FOR IN A RENTAL HOME?
One of the first considerations when deciding where to rent is safety.
OFF-STREET PARKING
Tenants want to make sure their family car or SUV will be safe from accidents and vandalism. A driveway also gives a place for kids to ride their bikes and have fun.
LOCKS AND ALARMS
Home security gives peace of mind that their belongings and the people they care about will remain safe while they live in the rental property. Install new locks with every change of tenant and make sure security systems are functioning properly.
Tenants also care about efficiency and function.
ENERGY-SAVING APPLIANCES
Not only are new ovens, dishwashers, and laundry machines easier to use, they save money on utility bills that most tenants have to pay themselves.
UPGRADED FIXTURES AND LIGHTING
With an open floor plan and plenty of natural light, this may not seem important, but properties still look and feel more comfortable when the lighting is bright and new. Use LEDs to save electricity as well.
Comfort, appearance, and curb appeal matter too.
NEAT LANDSCAPING
If the renters will manage the lawn and gardens, make landscaping low-effort but still attractive. Property managers can handle contracting with outside services if you prefer.
HEATING AND CENTRAL AIR CONDITIONING
These systems should be efficient and work very well. If the tenants cannot get comfortable in their home, they will think twice about renewing the lease.
Off-site and out-of-state property owners need assurance that these features are in good condition and maintaining their value as tenant attractors. A professional property management company can give you peace of mind that the changes you make to a property are having the desired results and a true boost to renter satisfaction.
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