Most Americans move between May and September, meaning that right now is a great time to improve your rental and take advantage of this. While there are many features you can upgrade, today we’re going to go over the top five features to improve in your rental that tenants are looking for
Kitchens and bathrooms are often the most expensive rooms in most homes. Upgrades in these rooms can significantly enhance the appeal of your rental property. While many tenants can move furniture and decorations to make the living areas to their taste, the kitchen and bathroom will typically not change. This increases the importance of these two rooms for attracting prospective tenants.
Energy-efficient and
modern appliances must attract tenants seeking contemporary living spaces. Sleek fixtures and fittings provide a clean and modern look, which allows these areas to stand out. Focusing on upgrading these rooms will not only increase the property's value but also ensure a higher level of tenant satisfaction. This can lead to a longer tenancy, which can reduce vacancy rates.
Improving energy efficiency in your rental property can be considered cost-effective and environmentally friendly. Many tenants nowadays look for sustainability as well as affordability. Old appliances should be replaced with energy-efficient models to reduce energy consumption. While providing energy-efficient appliances is a great way to start providing an energy-efficient rental, consider upgrading core systems as well. Upgrading your plumbing can reduce water waste and prevent leaks. Many older homes have inefficient cooling or HVAC systems, which can lead to expensive electric bills. To further improve efficiency, inspect your home’s insulation. While it lasts up to 80 years, roof leaks can shorten efficiency. Smart home devices can also help to reduce overall electrical usage.
Integrating smart home technology into your rental property can improve both convenience and security for tenants. Smart thermostats allow your tenants to program the temperature control, which can not only improve energy efficiency but also provide your tenants with additional comfort. Smart locks and surveillance cameras offer added security and peace of mind. Smart home hubs for device integration allow tenants to manage a number of elements of the rental environment seamlessly. Smart home technology can help make your property more appealing, competitive, and attractive to tech-savvy potential tenants.
First impressions matter, especially for rentals, as a tenant can decide immediately after seeing the property’s exterior. Many tenants view the exterior of a rental as a sign of how much a landlord cares about the property, and if the exterior isn’t in good shape, they often assume the interior might look the same or worse. Improving your rental property's curb appeal can attract potential tenants with well-maintained lawns and gardens. For great results requiring little maintenance, consider drought-resistant grasses and native plants. This creates a welcoming environment while promoting the beauty of the native environment. Regular cleaning and repairs to the exterior paint and siding help maintain the rental and make it look great. Consider using outdoor lighting to enhance security, making the property more inviting at night. Investing in exterior improvements can increase the rental property's desirability and potentially command higher rental rates.
For multifamily rental properties, consider offering communal amenities. These can significantly boost the attractiveness of your rental property. For example, if in-unit washers and dryers aren’t included in the rental, provide on-site laundry facilities. This can be incredibly convenient for tenants, saving them time and money. Communal areas like lounges, game rooms, or rooftop gardens foster a sense of community among tenants, which can encourage interactions. This can also make your property more appealing to a diverse range of prospective tenants.
Much like a property management company, improving your rental’s features shouldn't be seen as a cost; rather, it should be seen as an investment to
improve your rental income. If you are looking for help improving your rental or need help managing your Beach City rental property, we invite you to call us today at (562) 888-0247 or complete our
Owner Application online.
