Top Features Tenants Look For In A Rental Property
By Steph Elliott
Do you know what features tenants look for in a rental property? Whether you are buying an investment property or updating your current property, here are the top features you should consider if you want to attract quality tenants and maximise your rental returns.
1. Good Location
When it comes to location, tenants want to live in suburbs that support their lifestyle needs. Most seek safe neighbourhoods with easy access to amenities, including public transport, shops, parks and entertainment. Many tenants also look for rentals that are close to schools and their work. Generally, the closer your property is to the CBD, the more desirable it will be as it usually includes these in-demand location features.
2. Safety & Security
Tenants want to live in neighbourhoods and rentals that feel safe and secure. Usually, they search for suburbs with low crime rates and properties that have security features. While location plays a big part in this factor, there are some simple ways to make your property more secure. Installing better locks, alarm systems, and security lights can go a long way in making your property more appealing to tenants.
3. Air-Conditioning & Heating
Investing in air-conditioning and heating could make your property more attractive to renters. Tenants look for properties that are in move-in ready condition, so it’s best to have a system installed before you start showing your property. What’s more, many tenants are happy to pay more for temperature control.
4. Clean & Tidy
When it comes to rental properties, first impressions count. Tenants want clean and tidy homes, so make sure you thoroughly clean your property and remove all marks, stains and build-up before showing it to them. A well-presented and well-maintained property also allows you to charge a higher rent and attract higher quality tenants who are more likely to keep your property looking its best.
5. Modern Kitchen & Bathrooms
Modern kitchens and bathrooms that have ample storage are top priorities for most tenants. Tenants want kitchens with contemporary splashbacks, functional cupboards and new appliances, and bathrooms with modern vanities, practical mirrors and new fixtures. Refreshing or renovating these rooms can boost your property’s appeal and rental returns.
6. Outdoor Entertaining Area
Most tenants also seek rental properties that have space to entertain outside. Since Australians highly value outdoor living, particularly in places like the Gold Coast, it pays to upgrade your investment property’s outdoor area. Generally, you can appeal to more tenants and charge more rent if your property has a functional backyard, courtyard or balcony.
7. Good Landlords
Just like you want good tenants, tenants want good landlords too. Maintaining a respectful and courteous landlord-tenant relationship ensures that you have a better property investment experience and your tenants have a better renting experience. Make sure you follow through with any promises and address any issues in a timely manner. If you do, your tenants will more likely take better care of your property, pay their rent on time and abide by the lease agreement. As well, if they are happy living at your property, they will more likely renew their lease and pay a higher rental rate.
At ManageMe, we work closely with you to understand and achieve your property investment goals. Our dedicated team is here to add value to your investment and make it a rewarding experience. If you are looking for a professional property management agency to help maximise your rental returns, today.
Before making any financial decision, you should seek independent financial advice from a licensed financial advisor.