The increase of pricing in the housing market and lack of inventory has left some potential homebuyers renting instead of purchasing. As a result, these renters may not just be viewing rentals as just a temporary steppingstone to homeownership and expect their rentals to have nicer amenities than in previous decades.
If you’re a landlord, there are 8 amenities your rental should consider including:
1. Dishwasher – Rentals without dishwashers may experience more turnover than those that include one.
2. Washer and Dryer – With all the great space-saver appliances on the market, there is no excuse not to find room for a washer/dryer unit.
3. Alarm System – Security systems cost a few hundred dollars and can add value to your rental.
4. Pest Control, Gardener, Pool Service – Renters are looking for low-maintenance homes. Including these services in your rent also ensures your property stays in great condition.
5. Central Air conditioning – Homes with central air conditioning rather than wall units always command higher rents than those without.
6. Private Parking – Whenever possible, make sure there is a designated parking spot for the renter.
7. Outdoor Space – While not always possible, when looking for new investment properties, opt for one with outdoor space.
Rentals have become a necessary alternative to homeownership for some.
These renters will pay top dollar for the best properties. Make sure your unit stands out by offering the amenities modern renters want.
