To attract renters, you must be aware of what they are looking for in order to most effectively sell a listing. While cost is important for many tenants, it is far from the only deciding factor. Let us help you stay on top of market trends by noting these 8 things renters are looking for:
Tenants want to live near things that are important to them. Whether it’s a place of work, school, favorite restaurants or shopping centers, renters are going to be inclined to pay more for properties close to their biggest interests.
Everyone is always looking for a solid deal that is going to keep them on budget. 82% of those who moved into a rental in the past year say it’s very or extremely important.
3. In-home appliances
Going through the hassle of purchasing appliances such as refrigerators or washer and dryers amidst a big move can be a lot for a renter to handle. Already having the basics, like a stove or dishwasher can be a big plus when searching for a new property.
4. Space and storage
Renters are looking for a place to cultivate their lives and can’t do so in a cramped setting. The more room to move around and store important belongings and memories, the better. 45% of renters say their preferred square footage is a highly important factor in finding the right place to live.
5. Outdoor area
A private yard, porch, or balcony is very attractive to new tenants, especially those with pets or children. Even a small area to enjoy fresh air can set a property apart from its competition. Since COVID, outdoor areas have become the new living room and are valued by 40% of renters in a new space.
6. Cleanliness and condition
First impressions are everything and no potential tenant will envision their new life in a mucked up, unpolished environment. Make the property already feel like a home that renters can easily transition into.
Ample parking for residents and visitors is a sought after feature. Having to trudge long distances through pouring rain to reach your car or constantly pay a parking meter will deter potential tenants. Convenience is key in this day and age, and many renters aren’t going to settle for anything less.
8. Accommodating Landlord
Tenants want a landlord they can openly communicate with and trust to follow through with promises. Keeping up with property maintenance is a top concern among renters, and ensuring a cooperative and mutually respectful relationship is essential when obtaining new tenants.