These days, competition is tough in the rental market. People are pickier about where they want to live and have many options from which to choose. So, what are the top features of a rental property that makes them more marketable than others?
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Location, Location, Location!
Unsurprisingly, location makes rental properties more marketable. People want to live in a convenient location with easy access to public transportation, shops, and restaurants. So, the closer your rental property is to these amenities, the more marketable it will be.
Another factor to consider is the neighborhood. Is it a safe area with low crime rates? Are there good schools in the area? These are some considerations people will have in mind when evaluating your property.
While going to the local “suds and duds” might sound fun for some, most people prefer to have in-suite laundry in their rental unit. It’s a huge time saver and gives people the convenience of being able to do their laundry at home without having to lug it all down to a shared laundry room or the local laundromat.
When it comes to the kitchen, people are looking for a modern and updated space. They want appliances that are new and in good working condition. They enjoy plenty of counter and cabinet space for all their cooking needs. So, if your rental unit has an outdated or cramped kitchen, it might not be as marketable as one with a modern kitchen.
USB Charging Outlets
Over the last decade, the number of USB-powered devices has surged. From phones to tablets to laptops, people are constantly charging their devices. So, it’s no surprise that USB charging outlets have become a must-have feature in rental properties. They provide community members with a seamless way to charge their devices without using bulky adapters.
As more people know the need to reduce their carbon footprint, energy efficiency has become a key feature in rental properties. Community members want to know that their rental unit is not only environmentally friendly but they help save them money on their utility bills. Installing Smart Thermostats, LED lighting, and double-paned windows are some ways to make your rental property more energy-efficient.
Animal lovers can’t live without their pets! So, it’s no surprise that pet-friendly rental properties are in high demand. If your rental unit is pet-friendly, list it as a feature. You might even want to consider waiving a pet deposit or monthly pet fee to attract tenants with pets.
Ample Storage Space
Let’s face it, we all have stuff. And we all need a place to put that stuff. That’s why a rental unit’s storage space is essential. People want to know that they will have enough space to store their belongings without living in a cluttered and cramped space. So, if your rental suites offer ample in-suite and secure on-site storage space, potential community members who own items like bicycles, winter tires, or kayaks can see added value in your rental property.
Secure Package Lockers
As online shopping has become a part of everyday life, the need for secure package lockers has become a top priority for many potential tenants, as the potential for porch piracy is real. So, if your rental property has secure package lockers, it will be more marketable than one that doesn’t, as potential community members will know that their packages will be safe and sound until they get home. And during the busy holiday season, having this extra level of security provides peace of mind that every deal community members find online is worth the price of admission.
EV Charging Stations
Forward-thinking property managers are beginning to install electric vehicle (EV) charging stations at their rental properties. Having on-site charging stations is a great amenity to offer potential tenants, as it shows that your rental property is staying current with the latest trends and technologies. Not only will this appeal to those looking to live a more sustainable lifestyle, but it will help put your property ahead of the competition that doesn’t offer it.
In addition to the physical features of a rental property, people are looking for lifestyle features that help streamline their life and make them more enjoyable. Some examples of these features could include on-site gyms, a coffee shop, community centers, planned events, swimming pools, dog parks, coworking spaces, and bike storage. So, if your rental property offers any of these amenities, it will be more marketable than one that doesn’t.
This article was brought to you by Henderson Properties, a property management company that has been operating for over 35 years in North Carolina and South Carolina.