In a situation where both the location and rental rate of a property is similar, tenants will decide based on the available amenities. So, if you’re planning on becoming a landlord or are already one, fitting your property with modern amenities is a great way to attract tenants.
We at Rent Easy have put together this article detailing the top 9 amenities renters can’t resist in Hampton Roads.
Great Parking Spots
If your tenant commutes to work, having a parking area would be very desirable to them. In urban areas, garage parking and assigned parking are particularly more desired. Additionally, in snowy climates, prospective tenants may appreciate covered parking for their vehicles.
Modern Smart Home Features
Smart home features make a home convenient, more livable, and even energy efficient. With over 90% of the U.S. population using the internet daily, smart home features are an absolute must-have.
The following are some examples of smart home features to help give your tenants comfort, safety, and convenience.
- Smart smoke detectors
- Smart home security systems
- Smart shades
- Smart thermostats
Efficient Resolution to Maintenance Problems
As a landlord, you have a responsibility under Virginia’s Warranty of Habitability to ensure your property adheres to certain safety, health and building codes. The last thing a tenant wants is to live in a unit where the landlord takes forever to get repairs done.
Ideally, aim to respond to emergency situations within 24 hours, and handle non-emergency ones within a few days.
Provide Ample Security
As a landlord, it’s your duty to ensure your tenant lives in a safe space, away from any danger. But adding additional security to your investment property is a great way to attract tenants.
At the bare minimum, you have a responsibility to ensure their unit has a deadbolt and pin lock. You should also make sure that no one else has a key to the unit your tenant is living in.
Additionally, have a responsibility to maintain your property and conduct routine inspections. During these visits, you should fix any potential security issues, such as repairing a broken lock.
Invest in a Good Location
If you’re yet to buy your investment property, then you should seriously consider the location where you wish to buy. The location of your investment property can make all the difference.
If you buy in the right location, tenants will find your property desirable and you’ll not only enjoy high occupancy rates, but also a higher ROI. The opposite is true if you buy in the wrong location; prospects will avoid it at all costs.
So, what makes a good location?
Among other things, it’s where major points of interests are within a walking distance. Examples include good schools, restaurants, and beaches.
Provide Flexible Pet Policies
Most tenants in the U.S. are pet owners. Some surveys even put the number of households with pets at over 70%; and the numbers are rising year-over-year.
There are generally two groups of landlords: those that allow pets and those that don’t. If you fall in the latter category, tenants with pets will probably not proceed with a lease. So, having a limited or no pet policy can remove a lot of quality prospective tenants.
If you find allowing pets risky, there are a couple of things you can do to protect yourself from financial damage. For instance, you could charge a tenant with a pet an additional fee or deposit.
Please note that it would be a breach of the Fair Housing Act for you to charge such a fee on a disabled tenant for having a service animal.
Upgrade the Kitchen
Prospective tenants want to rent homes that look modern and attractive. As such, potential tenants will be more excited to sign a lease if the kitchen is modern and filled with working appliances.
One way of ensuring your kitchen is appealing is by replacing dated appliances with new and efficient stainless-steel ones. Installing granite countertops can also go a long way in making your rental property stand out from the competition.
Create Outdoor Spaces
An outdoor space is something prospective tenants will want. This is an especially desirable feature in urban areas, where accessibility to natural light and fresh air from a balcony garden or rooftop is highly valued.
The following are a couple of features that potential tenants will want to see in their outdoor space, so providing them is a great way to get your property rent ready:
- Patio and porch spaces that have a grill, sitting areas and are well lit.
- Great landscaping that is simple, functional, and appealing.
If you have little to no outdoor space, make sure to highlight any local parks, public recreational areas, or green spaces as a selling point in your rental ad.
Add an In-Unit Washer and Dryer
Providing an in-unit washer and dryer is a great convenience to any prospective tenant. Besides the convenience, you may also be able to attract a better caliber of tenant and charge them the more rent.
But if that doesn’t fit your budget, then consider providing an on-site laundry room. It’s a desirable amenity, as well.
While providing such amenities may cost you money, they are key to remaining competitive in the rental market. So, you may want to consider them as investments rather than giveaways. You may also want to focus on providing amenities that your target market prioritizes.
If you have any questions regarding the best amenities to add to your rental property, then it’s a good idea to contact an experienced property management company like ourselves at Rent Easy. Contact us today!