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Does your rental have the amenities that tenants are looking for? Certain amenities will stand out to tenants and increase your unit’s value. Here are our top 5 amenities that tenants love.
According to the 2015-2016 APPA National Pet Owners Survey, 65% of households in the United States have a pet. Since so many people own a pet, it makes sense that many tenants are keeping an eye out for a pet-friendly unit. Allowing four-legged family members at yours will increase your pool of applicants and allow you more choices when it comes to renters.
If you’re unsure of whether or not to allow pets, do a little research. Many landlords have concerns about allowing pets because pets can cause damage to a unit. Unattended and/or untrained cats and dogs can chew, scratch, dig, and have accidents. Pet fur and odors can linger in carpets, which can make it harder to fill vacancies in the future.
Want more advice about allowing pets in your rental? Take a look at these articles:
Some appliances come standard in rentals, like dishwashers and stoves, and many are expected, like central air conditioning, washer and dryer hookups. It’s getting more common for higher-end units to have in-unit laundry services, and for kitchens to include refrigerators and microwaves. While a landlord may not be required to provide anything beyond working plumbing, heating, and electrical, having additional appliances appeal to renters who are just starting out or who lack their own appliances. If you’re interested in completely upgrading your appliances, then consider choosing the same stainless steel is the preferred color for appliances.
Appliances should be included on the move-in and move-out inspection checklists and inspected for damage. You lease should include a policy on who handles appliance repairs. Check with your local rental laws to see if there are specific guidelines in your area for who is responsible to maintain, and be clear about the policy in the lease. Many landlords prefer to handle repairs themselves, which means encouraging tenants to communicate promptly when there is an issue.
The amenities in #3 and #5 on our list are becoming increasingly important for renters, especially millennials. Going green with your rental is win-win for occupants. Not only does it appeal to the interests of eco-minded folks, but it also appeals to those that want to keep down energy costs.
Here are our top tips for going green:
- Get an energy audit to see where you can improve your efficiency. Take a look Energy.gov for information on DIY audits.
- Switch to eco-friendly cleaning products. Good Housekeeping has some recommendations. They’ve tested the products and even give the criteria that they used.
- Consider using recycled materials when making repairs. Habitat for Humanity Restore offers new and gently used home improvement supplies that cost less than retail.
Want more tips about going green? Take a look at this article: Going Green with Rental Properties
Parking options can really set your vacancy apart from the competition. Parking expenses may be something that potential tenants are factoring into their budget, so make it easy for them to find that information in your listing. If you are advertising for an apartment in a multi-family property or in an urban area, then parking can get a little tricky. Include information about availability and additional parking costs. If you have a single-family property or have a unit that’s in a suburban area, then there may be more parking options. Highlight the off-street and on-street parking options.
Prevent conflicts between your tenants and the neighbors by clearly defining parking areas. When parking is limited, issues can arise from someone parking in your tenant’s spot or vice versa, an undesirable parking spot location, or if they own more vehicles than they have spaces for. Include a policy about parking in the lease to reduce some of these parking problems.
5. Tech Features
Many renters, especially millennials, desire modern rental tools and tech features. Keep your rental process quick and efficient by advertising online and accepting online applications that they can fill out on-the-go.
Wi-fi is a must for any rental, but you may consider adding a few additions, like USB outlets. We’ve already mentioned why you need an online rental application, so it makes sense that online rental payments would also be a desirable amenity. Tenants like the option to pay their rent from anywhere and from any device, while landlords benefit from having rent put directly into their bank account. It’s not a difficult transition to make and most services make setup quick and simple.
We have even more features that your tenants will love. Take a look at this article: Tech Amenities that Tenants Love
The rental market is constantly changing to meet the needs of landlords and tenants. It’s always a good idea to find out about local trends. The easiest way to do this is to check out similar listings in your area on a listing website like Zillow or Trulia to see what amenities other local landlords are offering. Don’t be afraid to ask your current tenants for feedback to see if your unit is lacking something. Knowing the needs of your tenants will help you keep your vacancies filled and will aid you as you advertise your rental property.