Are you getting ready to rent out your rental property? If so, it's essential to ensure that your property has what tenants expect. This blog post will outline the different features that renters expect to find in a rental home. This information can help you get your rental property up to speed and appeal to more prospective tenants.
The main determinants that renters have in mind when looking for their dream property are location, price, size, and features.
By keeping these essential features in mind, you can make sure that your rental property has what tenants are looking for:
An in-unit washer and dryer is a feature that tenants often look for in a rental, especially in suburban neighborhoods or single-family homes. Consider installing one if your rental does not have an in-unit washer and dryer. It would be a worthwhile investment that would make your rental more attractive to tenants.
Tenants prefer newer appliances and usually look for functional microwaves, dishwashers, and large refrigerators and freezers.
Microwaves are another kitchen appliance that tenants often look for in rental units. If your rental kitchen has no built-in microwave, consider installing one or purchasing a stand-alone microwave. Another kitchen appliance tenants often look for is a large refrigerator, which can be especially important for families who need more food. Finally, a dishwasher is another valuable appliance that tenants might search for in rental units because it is efficient and durable.
You can find some of the best deals for appliances at Costco, Home Depot, and Amazon. These three are our team's top picks for the best pricing and quality of delivery and installations.
Blinds or window treatments are other features tenants might want in rental units. Standard blinds provide privacy and help to keep the unit cool in the summer. If your rental does not have blinds or window treatments, consider installing them.
A private balcony or backyard is an attractive aspect that will help your property stand out from the competition. People are always searching for a little piece of nature, so by providing even a small outdoor space, you'll be able to draw in more interest and charge higher rent.
If you have any loud or eccentric wallpaper or colors in your rental, you should consider painting over it with a neutral color. Neutral wall tones appeal to the most extensive range of renters. Fresh and neutral paint colors are a winning combination that will make your rental more attractive to tenants.
The security of your home is essential, and there are a few key things you can do to help keep it safe. Ensure all doors and windows have secure locks, install a burglar alarm, and double-glaze any vulnerable windows. It's also worth installing smoke alarms on every floor of your house and carbon monoxide detectors in rooms with solid fuel appliances such as fires or boilers. Remember that annual gas safety checks or having working smoke alarms installed can be required by law.
Not providing parking for tenants makes you more likely to have difficulty filling your vacancy with high-quality renters. Many people own cars and don't want the additional hassle and expense of finding street parking or paying for a commercial lot. By including secure on-site parking, you can make your property much more attractive to potential tenants. If you live in a crowded city, parking is essential to finding a home. If your building doesn't offer off-street parking, try to direct tenants to a nearby parking garage that's at most five or six blocks away.
Tenants would value a rental that includes a clean and empty garage or additional storage. Having storage space for belongings can be especially important for families. Consider installing more storage units in individual rooms if your rental does not have a garage or extra storage capacity.
Make sure that all repairs have been made before listing and showing your property to prospective tenants. Getting your property in move-in-ready condition means painting, carpeting, or cleaning- anything to ensure an excellent first impression. Remember, the rental unit should be in move-in-ready condition. A good impression sets the expectation for the tenant that they will also have to maintain high standards of cleanliness and respectful upkeep. Here's Doorstead's comprehensive guide to getting your property ready for move-ins.
Installing air conditioning is a great way to make your rental property more attractive to tenants, especially if you live in an area with hot summers. Tenants will be willing to pay more for a rental unit that includes functioning air conditioning. Air conditioning expectations can differ by state, and this article from U.S. News explores air conditioning rates in the largest U.S. cities. Air conditioning is standard in cities like San Diego and Los Angeles but is surprisingly less common in other areas like the Bay Area or Seattle.
By keeping these ten expected features in mind, you can ensure that your rental property meets the expectations of quality tenants looking for a home. By having an attractive rental to tenants, you will be able to rent out your unit more quickly and for a higher price. For more ideas on creating a valuable and attractive rental property, check out our top seven ROI-generating remodels. Consider some popular home improvement trends reaching 2023 and beyond.
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