Learn from our property management experts!
Whether you are an experienced landlord or a new investor, the survival of your business depends on your ability to attract and maintain quality renters. While a well-written description and professionally staged photos are a great start for marketing your rental property, lacking the amenities that people want can result in longer vacancy periods and decrease overall profits. Offering attractive amenities has become even more essential as more people are working remotely, resulting in renters spending much more time at home. Here are the top five amenities renters are seeking in 2022.
Laundry Access – One of the most sought-after amenities is easy access to a washer and dryer. Offering an in-unit washer and dryer can be a huge selling point to perspective tenants. Alternatively, if you own an apartment building, you could look to set up a laundry unit in the basement.
Pet-Friendly Policies – Even though allowing pets in your rental property is risky, having a no pet policy will exclude many renters who already have pets. Additionally, many renters may not yet have a pet, but want to get one in the future. In order to protect yourself from potential damage, you should charge a pet deposit. Additionally, you can charge pet rent, further increasing the profitability of your rental unit. When remodeling a pet-friendly unit, consider adding tile, laminate, or vinyl flooring instead of carpet for a more durable and easily cleaned product. If you own an apartment building, pet-related amenities such as a dog park and doggy bag stations can be very attractive to pet owners.
Plenty of Parking – Another amenity that can help attract and retain quality renters is offering plenty of parking spaces for residents and guests. If your rentals are primarily single-family residences, typically a simple driveway is plenty of room. However, if you own an apartment, offering a large parking lot or parking garage can ease the frustration of finding a place to park after work.
Aesthetic Outdoor Spaces – Paying special attention to your outdoor spaces can help potential renters imagine themselves living in your space. Additionally, offering great outdoor spaces can help current residents build a routine that revolves around your amenities, which in turn increases tenant retainment. Amenities such as a pool, tennis court, grilling station, or a fire pit are great options for standing out as a renter. When designing your rental units, try to include access to a patio or balcony so that your renters can get some fresh air close to home.
High Security – One of the best ways to maintain a feeling of peace and safety for your renters is to invest in security. Some of the most popular options for increasing security include an access gate, security cameras, and adequate (but non-intrusive) lighting, especially in parking areas. For in-unit security, consider adding alarm systems or automatic locks with keypads for renter convenience. By paying special attention to your amenity offerings, you can successfully push your rental business to the next level. Beyond offering a solid selection of amenities, consider hiring a property management team to take the headache out of renting. For the best property management experience in Middle Tennessee, look no further than MMC. With a wide range of services including an in-house maintenance team, thorough resident screening, and access to licensed real estate agents, MMC can help you grow your business while freeing you up to pursue your passions. Call today!