There is a growing trend of singles looking for rental properties as opposed to buying homes. Rentals are cheaper, easy to maintain and offer the flexibility of easy relocation due to job demands or study requirements. Property owners interested in renting out their homes to single tenants need to understand the unique requirements of this segment.
For owners who are navigating this category of tenants, following is a list of some must haves that single renters prefer in a rental property:
- Safety: Safety and security are high priority considerations for singles living in rental homes. They appreciate features such as attached garages, secure locks on windows & doors, well-lit streets, emergency assistance and so on.
- Fun: Location plays an important role for single tenants as they prefer living in areas that offer nightlife, a cultural scene, fitness centers and entertainment hubs like restaurants, malls, museums and the like.
- High Speed Internet: A high speed internet connection is almost non-negotiable for singles. For most of them an internet connection is essential for their work, studies and even for fun and entertainment.
- Open Floor Plan: Open floor plans are a convenient option for singles as they require less upkeep and maintenance and are great for entertaining. Singles prefer such spaces as they can be customized as per their liking and require less furnishing.
- Convenience: In most of the cases, single renters are either students or working. The last things they want to come back to at the end of a long day are home maintenance tasks. They prefer rentals that are easy to maintain and are minimalistic in terms of the number of rooms, landscaping, etc. Single renters want minimum responsibility when it comes to the rental. They appreciate properties with new appliances and amenities such as in-unit washer and dryers.
- Accessibility: Singles prefer rentals with accessibility to transport links such as tram stops, bus stops, tube stops or train stations. The ease of accessing their places of work and recreational centers is a prime consideration for singles.
- Appearance: Singles perceive well-maintained and good-looking property as property with minimum requirements for repair and maintenance. Working on the appearance of rental property can be beneficial for attracting single renters. A few tweaks such as new plumbing, updating the electrical and HVAC systems, hardwood flooring, kitchen and bathroom renovations, etc. can prove instrumental in attracting singles.
- Affordability: The amount of rent is a huge consideration for singles. When looking for rentals, singles want a home that is financially viable. They are not interested in a great-looking home with the latest interiors, furniture or top-notch amenities. All they want is a clean, well-maintained and affordable place to live.
While buying or renting a house, one of the important considerations is the type of house. If you are considering a condo or a townhouse but are yet to decide between the two then do some research on how they differ and take a decision accordingly.
Following is a comprehensive list of differences between the two which will help you take an informed decision:
- Definition: A condo refers to a housing structure in a building comprising of other housing structures similar to it. A townhome on the other end refers to housing units sharing walls but standing independently in rows.
- Architecture and Amenities: Condos are like apartments within a single complex. However, within this structure, they can come in various styles such as a cul-de-sac of cottages or a part of a high-rise building. Often they provide community amenities like clubs, a golf course, pools, gyms, roof access and so on. Townhouses are like single-family homes. They usually consist of two floors with a back or front yard. Also, community amenities are very rare in townhouses.
- Ownership: The person living in a condo owns the interiors as well as the exclusive area he lives in. However, the building and grounds are owned by an association. Also, condos are governed by legal statutes. However, in a townhouse, you own the land, interiors and a yard or deck if any.
- Resale Value: As far as the resale value of a condo is concerned, there is less to worry about when it comes to the upkeep and appearance of the building. Regarding townhouses, you will have to go an extra mile in ensuring your property looks appealing to prospective buyers.
- Home Insurance Rates: Home Insurance rates of condos are lower as the insurance is limited to interiors of the condo only. In case of townhouses, owners will have to insure both the exterior and interior which results in higher insurance rates.
- Fees: Condo owners are liable to pay homeowners association fees and maintenance fees every month. Their maintenance fee tends to be higher due to shared spaces and amenities. Owners of townhouses are also expected to pay HOA fees but the maintenance fees is negligible.
- Privacy and Safety: Townhouses offer more privacy as compared to condos. However, as far as safety is concerned, condos are considered to be safer.
For more information on properties, call Lone Star Realty & Property Management, Inc. at (254) 699-7003, Inc. or visit 1020 W Jasper Drive, Killeen, TX 76542.
Location and size of a home are both important factors that need to be considered when it comes to choosing an ideal rental home. Choosing one criterion from the two will depend on a variety of factors and an individual’s specific needs. The choice will depend on the age of the prospective resident, allotted budget, maintenance requirements and much more.
Following are some pointers to help you choose the criteria that matters the most to you:
- Assess Your Budget: The first thing to consider when on crossroads about the right house for you is your budget. If you are looking for a large house with facilities like a swimming pool, big lawn, etc., and are ready to spend a considerable sum of money, location may not be a consideration. Alternatively, you might also prefer spending on a small house in a good location with no amenities like the one’s mentioned above.
- Number Of Family Members: The number of people who will live in the house will be a major deciding factor. If you have a large family, size will matter more than the location. However, if you intend to live alone, you should look for a place that is at a good location with access to all basic amenities and services.
- Lifestyle Habits: Your leisure time activities will also determine the kind of house you choose. If eating out, shopping, spending time at bars, clubs, cinemas, etc. is your definition of fun, you may consider picking a house at a prime location. However, if you like solitude and prefer reading a book or watching your favorite movie at home to unwind and freshen up yourselves, a larger house with ample outdoor space may be the right choice.
- Proximity Issues: If proximity to your workplace, shopping centers, banks, cultural centers and school district is important for you, then location is what you should consider instead of size. However, if commuting is not a problem for you, size may precede over location.
Lone Star Realty & Property Management, Inc. is a renowned real estate firm that understands the requirements of their clients and assists them in finding a suitable property while considering their budget. The rental services offered by them include online listing of available properties, leasing a rental property, online rent payment facility, property maintenance and much more. For more information on rental services provided by them, visit 1020 W Jasper Drive, Killeen, TX 76542 or call at (254) 699-7003.