Although the needs of tenants differ, but there are certain common things that make certain rental properties more desirable to them. For every landlord or property manager, it is essential to understand what common amenities tenants often look for in a property. This understanding helps them upgrade their rental units to include what the tenants value and thus, increase occupancy and get quality tenants. Here are some common amenities that tenants look for in a rental home.
- Walk ability: While looking for a rental property, most of the people want everything at a walk able distance. People want to use their cars less, so they want everything in proximity. Be it markets, food and entertainment, their jobs, access to public transport, parks, schools, etc. So, the tenants desire any property that offers these features.
- Updated properties: Tenants appreciate if the rental property is renovated and well equipped with all the latest features. Though tenants understand that the rental properties are pre-used, but they prefer clean and renovated properties. With so many new properties coming up in the already competent market, it is even more important to renovate the houses specially bathrooms and kitchen.
- Dedicated parking and garages: Another facility that tenants often seek is dedicated parking spots included in the rental properties. Having garage is an additional benefit, as it eliminates any parking issues. Moreover, the tenants can use their garages as extra storage space.
- Pet approved property: Most of the tenants have pets these days, so they seek pet-friendly properties. The landlords can charge pet deposit according to the state law to cover any damages caused by the pet.
- Storage facilities: Tenants often have a lot of stuff, so they seek a large number of closets and extra storage space. This helps them keep their things organized and their homes clutter free. The rental homes must have ample of storage space and closets. Having a garage or a basement can be a bonus.
- Laundry facilities: Tenants seek a rental unit with a washer and dryer so that they do not have to go out for laundry. If the washer and dryer are not there in the home, then at least there should be a coin operated laundry machine onsite.
- Common area facilities: Tenants are ready to pay more if they get some common area facilities such as swimming pool, jogging tracks, play areas, fitness center, sports facilities for kids, and other facilities.
- Safety: One of the most important features that tenants often seek in a rental property is safety. They want their families and belongings to be safe; therefore, they look for houses that have added safety features such as proper outdoor lighting, smoke detectors, fire alarms, emergency exits, bars on windows and quality locks on the doors, etc.
By knowing what the tenants seek, you can offer more desirable rental properties.
Selling your home in a rigorously cutthroat real estate market is not an easy feat. You need to thoroughly equip yourself with the right kind of information to make home-selling an easy task. There are certain factors that need to be kept in mind before you put up your home for sale. Some of these have been listed below:
- Property Presentation: Before putting up your home for sale on various online listings, it is imperative to ensure that your home is in the best condition. You can consider hiring a home inspector who will thoroughly check the property and suggest if any improvement or repair work is required. You should make your home ‘ready-to-move-in’ as this is what most of the buyers look for.
- Know The Market Trends: You need to be thoroughly aware about the trends prevalent in the local real estate market. You should also consider the price quoted by other similar properties in the area to estimate the value of your home. If needed, you can get in touch with a real estate professional to gain important information about the same.
- Hire Real Estate Agent: You should choose a real estate agent who is experienced in reputed in the field. He should also have a good track record of selling homes in your area.
- Pricing The Home: A correctly priced home will attract a lot of buyers and help in selling the house quickly. Overpricing or underpricing will not only make your home lag behind in the market but also make it less appealing to the buyers.
- Negotiation: Apart from judging the correct pricing, be prepared to negotiate the cost of your home. For this, you need prior planning so that you don’t end up losing a good deal for minor issues. Being flexible will work in your favor. Again, take the help of your real estate professional in this matter.
- Marketing: Choosing the right advertizing medium can also help you attract prospective buyers. You can consider marketing your property through various online listings or local newspapers for maximum exposure in the real estate market.
- Flexible Visiting Times: Potential buyers should be able to view your home at any time of the day without any interruptions. You should not too many put restrictions on the timings as this will hamper the process of home-selling. Let the prospective customers have a thorough look around your home to dispel any doubts. Also, you must be able to handle their queries in a confident manner.
We, at Lone Star Realty & Property Management, Inc., can help you sell your home in Killeen. For more information, you can call us at (254) 699 – 7003 or visit our office at 1020 W Jasper Dr, Killeen, TX 76542.
Owning a rental property is a profitable business and a good source of income. You should use the correct strategies to make sure that you invite quality and long term tenants. This can be quite difficult if you have another full time job or other personal commitments. Given here are certain tips that will help you ensure maximum tenancy and returns from your rental property:
- Visual appeal: It is imperative to de-clutter the house, beautify it and add amenities to attract potential tenants. You can paint the outer walls and maintain the landscape to improve the curb appeal of the house. You can consider hiring the services of a professional property management company to prepare your house for staging.
- Advertizement: You should reach out to potential tenants by marketing your property through effective mediums like an online listing and local newspaper. You can also advertize your property through licensed real estate agents in your area.
- Screen tenants: You need to check the tenant for credit rating, rental history and criminal record. Once you have done the checks and everything seems satisfactory, the tenant can rent your property. You should try to complete the process as soon as possible to ensure quick tenancy.
- Rental amount: You must determine a competitive monthly rent after researching the rent of similar properties in your location. Quoting too high or low rent can put off most potential tenants.
- Inspect your home: You should ensure that all appliances, plumbing and electrical fixtures are in proper working condition. If the property requires any repairing, it should be done before making the property available for viewing.
- Safety: You should improve the safety features in the property to appeal to a larger audience. Installing fire alarms, changing the locks and smoke detectors can promote the property as a safe living place. You can also equip the kitchen with a fire extinguisher and sprinkler.
- Pet friendly: Many tenants search for a home that is pet friendly. Therefore, by allowing tenants by pets, you can considerably increase your home’s demand in the rental market. You can specify the type of pets allowed and mention these instructions in the rental agreement.
We, at Lone Star Realty & Property Management, Inc., provide property management services in Fort Hood, TX. For more information, you can call us at (254) 699 – 7003.