Top 10 Amenities Your Tenants Will Adore
AKA Indulgence pays off royally
In this article:
- amenities: Why bother?
- unranked list of features that tenants appreciate the most
- SWORP TIP!
Amenities, or features that your tenants use while occupying your property, are not just a cherry on top of a nice, clean, well-maintained rental. As a landlord, you have many options to choose from when you add amenities to your property. Unfortunately, many homeowners and property managers underestimate amenities’ attractivity, even though it has a huge potential to promote a unit to prospective tenants.
Many tenants search for accommodation according to the amenities they cannot do without. Usually, they search for a home that comes with a better renting experience compared to other options (this especially applies to tenants of productive age who are experienced in renting various, often very different, places. If your unit doesn’t match their criteria, you are out of the game. Sometimes the tenant loses interest in your unit, just because it has a gas boiler for heating, and nothing could change his mind, but usually, suitable amenities can outweigh the shortcomings that would otherwise be a big no-no.
So, without any further delays, let’s discuss what tenants typically consider a valuable amenity that makes your property or unit stand out from the average market offers.
Balconies, terraces, and loggias are definitely among the top most desired amenities. Fresh air, a place for relaxing, drying laundry, flower garden, or whatever else - tenants love having their own outdoor space. If the rental property is in a big city like Prague, take precautions against pigeon droppings. Nothing spoils the image of the otherwise nice apartment with a balcony than pigeon waste all over outdoor parts.
Given that your rental property is located in an area experiencing high temperatures regularly, air conditioning makes your tenants' accommodation much more comfortable. The initial costs are relatively high, and it takes a professional to install it, but once the hot summer begins, plenty of prospective tenants will appreciate the value of AC.
- kitchen island
Kitchen islands are a cherry on top of a convenient accommodation, as most rental apartments, especially the cheaper ones, are equipped with kitchenettes. Adding a kitchen island with a durable countertop is handy, and good-looking, providing tenants with more space to prepare meals, cook, or store crockery.
- parking lot/garage
Apartment buildings located in cities, let alone downtown, tend to lack parking space. Tenants who own a vehicle are used to searching for a place to park all around, which is annoying. Offering a parking lot in the driveway or even garage parking space for a monthly fee makes the difference when a car-owner decides between your rental and one with no such amenity.
- coin-operated laundry machines
In-house washing machines and dryers are very popular as more and more people (especially younger ones) don’t see the point in buying these appliances for their private use. Install the machines in the property basement so the washing and drying sounds don’t disturb the tenants. The collected laundry charges will increase your property’s cash flow and net operating expense. Also, with such a desired amenity, your rental property's overall value increases.
Let’s face it. If your property has more than three floors, tenants won’t appreciate taking stairs all the way. Moving, heavy shopping bags, strollers, or simply exhaustion, there is always a good reason to use the elevator. Also, such an amenity increases the value of your property, and you can charge your tenants for the elevator service.
Having an elevator is one thing, but taking stairs to take the elevator is another. Older tenement houses typically have this issue, so even if they are equipped with elevators, they are not barrier-free. Not only disabled persons benefit from a lift platform installed on entrance stairs, but it is also highly appreciated by seniors and parents with strollers.
As everyone has things to store, preferably not inside the apartment (such as bicycles, furniture, ski, and large tools), cellar units are extremely useful and highly desirable. If there are certain things you don’t want your tenants to put there, just embody the restrictions into the contracts.
- pet-friendly place
Many landlords prefer tenants without pets, especially cats and dogs because they fear that the animals would destroy the unit equipment, disturb other tenants, and pollute the common areas. You don’t know in advance if a tenant is also a person whose pet is not a troublemaker. Also, such amenity is not appealing to all, however, to decent pet owners who are tired of searching for a place they could live comfortably with their pet alongside other tenants, perhaps even enjoying a designated pet area, your property will be a stand-out.