10 Features That Tenants Look for in a Rental Property

While It is a great milestone to acquire rental properties, filling up the vacancies remains the greatest hurdle for most landlords and investors. You need to know the kind of property features that renters deem most desirable to lower your vacancy rates and, most importantly, boost tenant retention. This article focuses on the most sought-after features your rental property needs to have to attract quality tenants.

Perfect Location

A good location is usually a top priority for renters looking for a place to live. Most people want to live close to amenities, local shops, transport links, schools, and places of work.

While it may not be possible to change the location of your rental property if you already own it, you can provide easy access to crucial amenities and include that in your property advert description. But if you are still planning to invest in a buy-to-let property, take into account the location and the kind of renters the location will appeal to.

Space and Layout

Your rental property’s floor layout and available space can significantly impact how potential renters view the property. Functional and spacious layouts enable tenants to maximize their living space, especially in smaller rentals.

Today, most properties have open floor plans, especially for kitchens and dining areas, which makes the smallest spaces appear much larger. With an open floor plan, you will give your tenants more flexibility when setting up their lounge area, dining room, and at-home office space.

Also, avoid huge pieces of furniture that can consume a lot of space, making the rooms appear small and crowded.

Safety and Security

Location and safety go hand in hand, as no one would want to rent a home in a locality with a high crime rate. For tenants looking for multi-unit dwellings, you can make them feel safer in your property by installing security cameras and an intercom system.

If you own luxury rentals, provide full-time security personnel alongside PIN cards or smart locks to prevent unauthorized access. Properly illuminate the exterior of the building and install motion sensor security lights to deter intruders from breaking in at night.

Other safety and security features that can help you win more perspectives include smart door and window sensors, integrated alarm systems, remote monitoring and control, smoke and carbon detectors, and home automation integration.

Modern Amenities and Appliances

Some popular amenities that renters look for in apartments and other properties include an up-to-date kitchen, a well-equipped bathroom, hardwood floors, and a bar area with elegant bar stools. You can find quality bar stools online from a reputable platform like Kasala.

Also, fit your properties with modern energy-efficient appliances, such as in-unit dishwashers, refrigerators, ovens, and washing machines. Choose newer ones with good energy ratings to lower tenants’ utility bills and give them value for money.

Functional Outdoor Space

Most renters want to spend time outdoors relaxing and hosting outdoor occasions with friends and family, whether in the garden, balcony, or patio. By providing even a small functional outdoor space, you can appeal to a wide range of prospects seeking a little piece of nature.

Have a well-maintained and attractive front yard by mowing the lawn, trimming trees, and removing weeds. You can update your landscaping by aligning the walkway with colorful flowers from a flower delivery Sydney service, installing landscaping lights, and simply power washing the driveway. Increase the living space by installing a deck or patio, an outdoor grill, and comfortable furniture.

Ample Storage Space

You can win long-term renters by providing adequate storage space. No one wants to live in a cluttered space, and good storage solutions will enable them to store all their belongings. You can maximize space in small rental properties by incorporating built-in floor-to-ceiling wardrobes, shelves, and cupboards in odd-shaped nooks or recesses to minimize wasted space.

Other storage options include bed frames with built-in storage, hung baskets on tension rods in bathrooms and kitchens to store toiletries and cleaning supplies, and, if space allows, installing a walk-in closet system.

Alternatively, if you are renting out your home, consider converting the basement, attic, and garage into storage solutions for your renter.

Adequate Natural Lighting

The availability of natural light greatly impacts rental properties, as it makes them feel more spacious and open, enhancing their desirability for renters. You can maximize the penetration of natural light by installing broad windows and strategically positioning a mirror on the wall opposite a window.

Clean the windows, use light-colored window treatments, and avoid blocking them with furniture or other objects. Besides, consider painting the ceiling and walls white to reflect light and make the room feel brighter and installing skylights or solar tubes.

Parking Availability

Failing to provide secure parking spaces can scare away high-quality renters who own cars. Most people will not want to deal with the additional expense and hassle of finding street parking or incurring the cost of a commercial lot.

Create secure on-site parking to appeal to such tenants, especially if your rental property is in a crowded city. To avoid misunderstandings, assign specific parking spaces to each rental unit. Use a numbering system for the tenant’s parking stalls and capture that in the lease agreement.

Some landlords attach ID stickers to tenant vehicles, especially at the rear window, to keep only authorized cars on the premises and emphasize proper parking. Such parking guidelines and policies can be a great selling point for renters with vehicles.

Home Office

Remote and hybrid work continues to gain ground worldwide, increasing the number of renters who want an at-home workspace. Find a quiet spot in the rental space, such as a designated corner in the living room, garage, basement, or spare bedroom, and convert it into a home office. Equip the space with an office desk, ergonomic chair, accessories, and storage to appeal to a wide range of work-from-home renters.

Pet-Friendliness

Most renters with pets, such as cats and dogs, find it challenging to find properties that can accommodate them. By making your property pet-friendly, you can attract a larger market and high-paying tenants.

One way to make your rental property pet-friendly is to prioritize hard surfaces, such as hardwood, tile, vinyl, and laminate, over carpets. Also, consider using washable, pet-friendly fabrics and invest in self-cleaning technology.

As you design your rental properties, know what tenants want and limit your upgrades to that. By adding these features, you will not only attract quality tenants but also increase your rental income.