We all know that the rental market is extremely competitive. It’s important to know what tenants are looking for in a rental home to stay ahead of the curve. As a landlord, you want to ensure that your rental property is attractive and meets a tenant’s needs. Here are the top things tenants look for when they’re searching for a rental property so you can be sure to check off all the boxes:
1. Location, location, location
The closer to the city, the better. Tenants want to be close to all the action and convenience that living in the city has to offer. If your rental property is located further out, highlight all the public transit options available to tenants. You can also highlight how your rental property is located near parks and other recreation areas so tenants can escape the hustle and bustle when needed.
If your business is far from the city, highlight how your rental property offers tenants a quieter lifestyle in a suburban area. There are many benefits to living outside the city, such as lower rent, more green space, and less traffic. These are all important factors to highlight when it comes to attracting tenants.
2. Energy-efficient property
Aside from the rental price, energy efficiency is one of the top things tenants look for in a property. Energy bills can add up quickly and be a hefty expense for tenants. Therefore, tenants are looking for rental properties with efficient and high-quality windows, appliances, and lighting that will help lower their energy bills.
As a landlord, you want to get a domestic EPC (Energy Performance Certificate) before you list your property. This will help tenants get an idea of the energy efficiency of your property and get a better idea of their monthly bills. The certificate will also tell you what needs to be improved to make the property more energy-efficient. You can then make the necessary improvements to ensure your rental property stands out.
3. Safe neighborhood
When tenants are looking for a rental home, they also look for a safe neighborhood. They want to feel secure when they come home at night and don’t want to worry about their safety. List the safety features of your rental property and its surrounding area, like security cameras or a guard on duty. You can also highlight the local police station and other emergency services nearby.
If your rental property is not in a safe neighborhood, you can still make it attractive to tenants by highlighting the safety features you have. Install smoke detectors, carbon monoxide alarms, and a secure doorbell system. These features will help make tenants feel more secure in their new home. Investing in safety features will also help attract more tenants and can even help increase your rental prices.
4. Affordable rent
Of course, tenants are also looking for an affordable place to live. They want to find a place that fits their budget and won’t break the bank. Be sure to list your rent prominently in your listing so that tenants can easily see if it’s within their budget.
You can also offer special discounts to tenants, such as reduced rent for the first three months or an extended lease agreement. These incentives will help draw more tenants to your rental property and make it stand out from the competition. You can also offer flexible payment plans and no application fees to make it more attractive.
5. Pet-friendly policies
More and more renters have pets these days, and they’re looking for pet-friendly rental homes. If your rental property allows pets, mention it in your listing! Pets can be a great selling point for tenants looking for a place to call home. They want to be able to bring their furry friends with them and not worry about moving again.
Be sure to list the pet fees and policies you have in place, such as whether you allow certain breeds and have a pet deposit. You can also highlight any nearby pet parks or other amenities for pet owners. By offering pet-friendly policies, you’ll be able to attract more tenants and increase your occupancy rates.
6. Move-in ready condition
Tenants don’t want to move into a rental home that needs work – they want a move-in ready and turnkey place. If your rental property is in good condition, be sure to mention it in your listing! This will appeal to tenants looking for a hassle-free move-in experience. You can also highlight any upgrades or renovations you’ve done to make the property even more attractive.
Try to anticipate what tenants want, and include these features in your listing. This will help you stand out from the competition and attract more renters. By offering a rental property that meets the needs and wants of tenants, you’ll be able to fill vacancies quickly.
These are just some of the things tenants look for when searching for a rental property. If you keep these things in mind when marketing your rental property, you’ll be ahead of the competition! Always remember that your tenants’ needs come first, and be sure to list all the features that make your property stand out. With the right strategies, you can make sure your rental property stands out!