Attracting quality renters and keeping the ones you have are two issues that most homeowners are rightly concerned about they think about renting their home. Though there are lots of factors to consider, there are certain key features that many renters look for when searching for a new home. Here is a list of 10 top things renters consistently look for:
Washer and Dryer. Providing a washer and dryer may be the best investment you can make when renting your home. Many people don’t want to spend the money to buy a washer and dryer for a rental home, and absolutely nobody wants to drag their dirty clothes to the laundromat. Tip: when making the investment to equip your rental with a washer and dryer, purchase high efficiency ones to cut down on the water bill.
Stainless Steel Appliances. Everyone loves the look of stainless steel. It can be pricey though, so if it’s just not in the budget, consider stainless “look” appliances instead. And regardless of whether you go with white, black, or stainless steel, the most important thing is to make sure all the appliances match. Nobody wants an almond stove, stainless dishwasher, and black refrigerator.
Hardwood floors. Hardwood floors can be costly, but they are an excellent amenity to consider if you are replacing flooring. Hardwood floors are the prime choice by many because of the durability, great look, and the fact that they are allergy friendly. When hardwood floors are too costly for your budget, consider affordable laminates that give you the look of hardwood for less.
Updated kitchen. The kitchen is the heart of the home, and it just makes sense that renters want a kitchen that they can see themselves cooking and gathering in, whether with friends or family. Modern amenities like dishwashers, microwaves, and gas stoves can shoot a rental property to the top of a prospective renter’s list!
Dishwasher. Speaking of dishwashers, if your property doesn’t have one, our advice is to get one! They are a part of everyday life in our modern world, and renters will avoid properties that don’t have one. Most of the time it isn’t too costly to install one; consult with a contractor to see if there is some lower cabinet space that can be taken out to fit a dishwasher in.
Patio/Outdoor Space. Some type of outdoor space is considered a big bonus for renters. Whether it’s aa patio, porch or balcony, it can increase what the renter feels is livable space — as long as the weather is nice enough to spend time outside. Creating a usable, outdoor space that is nice and inviting is the point, so consider furnishing the existing outdoor space with some type of patio set (it doesn’t have to be expensive!) or fire pit.
Fireplace. Renters across the country consistently put a fireplace in their Top 10 list. Fireplaces add a cozy factor and can also lower heating bills, depending of course on whether it’s wood or gas, and how cold the climate is in the winter. There is a range of options, from wood burning to gas, or wood burning stovesso check out all the options.
Natural Light. Human bodies naturally crave sunlight. For the same reason that realtors open all the blinds and curtains when they are showing a home, you will want to ensure your rental home is getting as much natural light as possible. Light and bright spaces rent faster, so let in as much natural light as possible; it will make your property look warmer and more inviting. Don’t forget to trim bushes and trees that may be blocking light into your home!
Closet Space/Storage Space. People have stuff…sometimes lots of it! If the existing closet space in your home is limited, maximize the existing closet storage space by installing closet organizers or consider letting tenants use the basement, garage or storage shed to store their belongings.
Central Air Conditioning. Though central air conditioning is seen as a luxury in some climates, lack of central air is a deal breaker in warmer climes. If you own an older home and installing central air is just not possible, consider options like window installed air conditioners or a ductless split system.
Maximizing the amenities on this list for your rental property will help you attract and keep better quality renters. Feel free to contact us if you have any questions about adding features and amenities to your rental property!