Nine factors a tenant may look for in a rental property

When renters are looking for a property to call home, they have certain features in mind that they want in the property. If you want to boost your chances of finding an excellent tenant, you need to be aware of the features that tenants find most desirable. Having these features can help differentiate your rental property from the rest. So, how can you make your rental property more attractive to prospective tenants? Here is a list of the most popular features that prospective tenants look for in a rental property:

Renovations and upgrades

Tenants want their home to look and feel new. You don’t necessarily need to make huge upgrades to attract good tenants. Some basic upgrades in the kitchen and bathroom such as a new backsplash or a new faucet are usually enough to give a fresh feel to the house.

On-premises laundry/in-unit washer

Laundry facilities are usually a non-negotiable item on a prospective tenant’s priority list. Having a washer and dry in the unit is a convenience any tenant would appreciate as no one wants to struggle every day for something as basic as laundry.

Open Floor Plan

Open floor plans make even the smallest of spaces feel larger, which makes them extremely popular. The idea is to have a living space design that prioritizes open spaces with fewer separations between major rooms in the house to encourage communication and bonding. Knocking out a wall in the living room, kitchen, or dining room can make a huge difference to the overall layout and feel of the house.

Parking

No one wants to drive around for hours every day just to find a parking spot. For properties located in a suburban area, there is usually ample parking available on the street, but in urban areas, space is at a premium. So, offering off-street parking to the tenants can be a huge plus.

Outdoor space

A balcony or a private backyard is a huge attraction for urban dwellers and can prove to be a great differentiator. Having some outdoor space to enjoy fresh air and natural light will attract more tenants and may even help you charge a premium for your rental property.

Pets

Nowadays, particularly since the Covid-19 outbreak, a lot more people own pets or plan to have them in near future. The growing demand for pets among renters means that they would prefer properties that are pet-friendly. A lot of rental owners do not accept pets as they don’t want any damage to the property. By doing this, they may miss out on many good tenants. It is best to lay down clear rules and responsibilities and accept pets into your rental property.

Storage space

Having ample storage space can make even a small unit look more spacious and organized. It is a great idea to invest in storage closets or even basement lockers to increase the storage space in your rental property. This will help attract and retain good tenants.

Safety and security

It is needless to mention that everyone wants to have a home in a “safe neighborhood”. Additional security features such as fences, cameras, and alarms can give your tenants a sense of security and peace of mind. It is a great way to attract tenants.

Natural light

Having large windows and a lot of natural light in the home can make your property very attractive for prospective tenants. Natural light makes the property look warmer and inviting. So, make your property gets enough of it.

Need help renting a home or finding tenants for your rental property? You need someone who knows the place well, has years of experience behind them, is passionate about serving their clients, and is not just after the commission. Get in touch with our team now to discuss your requirements.