Renting: The Top Attractions When It Comes To Rental Properties
The Top Attractions When It Comes To Rental Properties
Amenities play an important role in attracting good renters towards your property. A survey conducted byApartment Guide showed that 75% of the landlords assume that they would have to make the improvements to their properties if they wanted to keep and attract renters. Today, renters are in search of specific features within a home or an apartment, and they would pay a higher price if they get those features. This is exactly why landlords should always keep in mind the demands of renters. Here are a few attractions that are important to renters when it comes to rental properties:Location
While you cannot do any renovations in this respect to increase the value of the property, landlords should take into account that a decent location will always be important to renters. A property that is situated in an expensive area or a hot neighborhood will attract more renters as compared to a property located in a less desirable neighborhood. Provide a renter with a school district location or a shorter work commute and they will likely want to rent there.Open Floor Plan And Square Footage
Square footage will always be a unique selling point because everyone loves and wants more space. Alongside, there should also be an open floor plan, since a smaller space can seem much larger when rooms flow into each other.Amenities In Style Of A Resort
Certain community features that include swimming pools, a fitness center and tennis courts are always attractive and motivating for renters. Therefore, a landlord should consider highlighting such incentives and features so that they can draw in more potential renters. For single family home rentals, such features will probably not be available, however, there are others such as neighborhood pools, tennis courts, children’s areas, picnic areas, or lakes that might be attractive to renters and should be featured in marketing materials for your rental listings.Updated Kitchen Appliances
People like using things that feel new or actually are new, and certainly do not want to have a feeling that they are using the same things that the people before them were using. This is why it is important to keep updating your appliances and having the appliances match. We are in no way suggesting to go out there and buy the most expensive appliances for a rental property, but a set of appliances that will look good, function properly and is not overly expensive.
In our experience, we have found that buying appliance protection helps in dealing with a rougher usage by the tenants and that most often, repairing appliances, doesn’t make a whole lot of financial sense. So, with the extra warranty, our appliances last longer, and when the warranties end, we just replace them for something similar.Outdoor Space
Some renters prefer having an outdoor space according to a study conducted by Urbanigloo.com for the Washington DC renters had ranked the outdoor amenities to be the number one priority when it came to renting properties. 61% of the respondents wanted to enjoy the outdoors while still being at home. Outdoor amenities include rooftop decks, sundecks, patio areas, and a space for placing grills and furniture.Parking
No matter what the parking space is like, be it a unit parking space, a carport, an attached garage or a parking garage of the building, the renters who own cars would want a place to park their cars as well. Covered areas for parking are much sought after since they provide protection against snow or rain, and help in adding a certain level of peace of mind and sense of security.
If you manage to find ways to offer such benefits to renters, then they will come running to rent your property. While it may be difficult to offer all these amenities together, see what your single family home rentals can offer in terms of outdoor space with fenced in yards, neighborhood pools and tennis courts, private attached garages and remember to highlight those amenities in your rental ads.
We have just touched on the surface of the many things you can do to make your rental properties more attractive for renters. The Owner Buzz Blog provides a great deal of information on renting, property management and investment properties. If you have questions, please feel free to visit out website’s Property Management section and read the many articles we have published on landlording, property management and investment properties.
Marina Shlomov, a managing partner at ALH|Podland Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out atwww.alhpodland.com in the About Us/Meet the Team section.