If you’re considering rental property investment, the needs and desires of potential tenants are vital areas of concern. You want to have the kinds of things renters are looking for, and there are several areas you can make a point of emphasizing.
At Americas Housing Alliance, our services include providing connections to management companies that can assist with every element of this process. Here are some of the biggest things tenants want to see in a rental property.
Location and access are always going to be some of the most important factors for prospective renters. They want to know about access to roadways and common needs like grocery stores and schools. They want to know how their commute will be, and whether the area is safe for both children and adults. Providing as many of these positive factors as possible can go a long way.
Particularly if you’re pet friendly or if you’re looking to attract tenants with children, a home with private spaces can be very desirable. Things like a fenced-in yard or extra on-site storage can be very attractive to some tenants.
Properties with covered parking, particularly garages, are in very high demand – particularly anywhere where weather is a regular concern. On the other hand, properties that don’t have any covered parking may attract fewer tenants.
No one wants to move into a project unit, and everything needs to be clean and working properly – this is where having a great management company comes into play. Things like HVAC, electrical and plumbing are areas that will need regular maintenance.
In addition, the nicer a property is, the more tenants it will attract. Wherever possible, look to make upgrades to the property – consider energy-efficient appliances and updated fixtures. Once you’ve made upgrades, you can also likely charge more in rent to recoup your money.
In nearly all cases, tenants want to have appliances like washers and dryers already included. If your unit doesn’t have the standard appliances most renters expect, consider making this a top priority in the near future.
For more on the factors that tenants want to see in a rental property, or for help with real estate investing and investment properties, speak to the experts at Americas Housing Alliance today.