10 Jun Ten must-have amenities for modern renters
If you are looking to invest in a rental property, it pays to check out the top amenities renters are seeking. What you offer your renters can put you ahead of the rest of the competition. Here’s a look at ten “must-have” amenities today’s renters expect.
- Laundry in unit: No one enjoys doing laundry at a laundry-mat. This is especially true for young families with children who may have dual careers. Busy millennial-age renters want the convenience of an in-unit laundry.
- Off-street parking: Parking space is extremely important in considering a rental unit. If you offer off-street parking, your renters will be willing to pay for it.
- Outdoor space: Whether it is a fenced-in backyard, patio, balcony, deck or a large and open community space, renters are willing to pay top dollar for a rental unit with access to outdoor space.
- Modern kitchens: Stainless steel appliances and solid surface counter tops are the top choices for the modern renter. Spending a little extra on the kitchen you offer will attract renters who are willing to pay more for upgraded cooking and entertaining spaces.
- Walkability: It’s all about location! People want walkability to the best shopping, schools, restaurants, parks, etc.
- Pet-friendly: Most people have or plan to get a pet. Having a pet-friendly property will make your unit desirable to many renters. Pet-owners are willing to pay a pet deposit and associated fees charged to allow pets in their apartment.
- Storage space: Adequate storage is essential. If your unit does not have space for people to store their belongings, you’ll be losing potential renters. You can increase the unit’s storage by offering access to a shed or garage.
- Home security system: Everyone wants to feel secure in their own home. Offering a security system for a rental unit can be a make-or-break amenity, especially in an urban setting.
- Pool: A pool offers maintenance-free recreation and fun for the whole family and is a big draw for renters who have children or like to entertain.
- Fitness center: Having the ability to work out “at home” is very convenient and appealing. Renters may be willing to spend more on rent because they aren’t having to pay for outside gym fees.
Are you buying a rental property? There’s a lot to consider! One thing you can cross off the list is the closing process. Barsh & Cohen can handle all the closing paperwork efficiently and at a reasonable price! Contact us for more details.