The key to a successful rental property is a tenant that pays rent on time and respects the property they live in. Attracting and keeping these tenants is the crux to being a successful owner of a rental property. Obviously a cooperative landlord is part of the package they are looking for but in this blog we will be focusing mainly on the property itself.
Here are some things your potential tenant is thinking about when viewing your property.
Good location/proximity
A good location can mean different things to different tenants, some tenants want a home close to work to cut down on their daily commute, some tenants prefer a home in a desirable school district for their children, and some tenants want to live in a neighborhood where the community is desirable. In order to find the tenant that will ideally stay the longest time, it would be best to find the tenant that is looking in your area because of these special features of your property.
Cleanliness
When showing your property to a potential tenant, it is in their mind to critique the house and find aspects that they do not like during the tour. A dirty carpet or buildup around the kitchen sink or toilet makes an easy target for criticism. Eliminating as best as you can any housekeeping blemishes can help the potential renter to not get distracted when viewing. Plus nobody wants to have cleaning be the first thing they have to do when moving in.
Appliances
Although it is common in Sacramento to have the tenants bring in their appliances, sweetening the deal with a set of matching appliances that is well maintained is a huge plus. Making the house and kitchen look very attractive when initially viewing. It does not have to be brand new, as long as it is well maintained and shows well it can make the kitchen pop. The worry here is that the tenants won’t take care of the appliances. And while that can happen, with the help of a good property management service, the goal is to find the highest quality tenant that will treat your investment as their own.
Space
Simply put, the more space the better. For a tenant to feel comfortable nesting down in a home they would need space to store their personal belongings and space for them to have activities. Naturally an open floor plan would make the house more spacious. Having walk-in closets and good sized bedrooms are also attractive features conveying a sense of homeliness and welcome. A backyard with space for a shed or fire pit is also generally preferred in my experience leasing properties to tenants. Obviously this is something you would be thinking about when buying your investment property as making space once you own it, is either impossible or to say the least, rather costly.
Upgraded Features
Lastly, while most people do not actively think about it, every part of your house is some sort of technology. Single paned windows? Old technology. Outdated HVAC? Expensive in the long run. By retrofitting your rental with new technologies like double pane windows, energy efficient water heaters and HVAC, and maybe a smart doorbell or smart light switches to get ahead of the rental market really sets your rental apart when potential renters tour the house. Highlighting these features when advertising can also greatly increase the attractiveness of your listings and rest assured when they tour the house they will be taking these factors into consideration.
