There are a variety of factors that contribute to good rentals; whether it’s the convenience of placement, size, the local schools, neighborhood, or simply that there is a washer and dryer in the unit, these are all factors that will get you a contract with a new renter, or mark you off their list of potential rentals. Here are some of the most popular indications that make or break a rental for potential tenants.
1. Location
When selecting property, or buying a house with the idea of renting it out, you want to consider the demographic you will be renting to. If you plan on renting out to families, consider the distance to local schools, or to the grocery store, and whether that will be a make-or-break deal for any potential family renters.
2. Rooms
It’s vital that you provide the right amount of rooms if you can. You need to make sure that you have enough room for families, or if you plan on housing multiple tenants, roommates. If you plan on making it a temporary rental such as an AirBNB, consider how many bedrooms to place near the bathroom without designating too many rooms to one bathroom.
Small spaces for long-term renters is going to deter those with standard expectations, for example, ensure that there is enough space between the living room and kitchen so your tenant can choose to have a dining table, and a sofa, as opposed to just having a sofa and bar stools at the counter due to space constrictions.
3. Upgrades
Make your rental look nice. Curb appeal is everything, as you’ll want to stand apart from other forms of accommodation that are in the area, within your HOA standards. You’ll need to ensure that all of your appliances are installed properly, or have them replaced. For a water heater company in California to check on your water heater maintenance, you can contact The Water Heater Company in Agoura Hills to check the regulation. Any issues with the water maintenance is an emergency for renters.
4. Storage Space
It’s vital that you give your tenants room for storage. It doesn’t matter what target tenant you’re trying to attract—everyone needs storage. This could be a shed, attic, garage shelves, or even some upstairs cupboards; as long as you have ample space for your tenants to store everything they need.
5. Pet Friendly
There are many pros and cons to allowing pets. Outdoor-only pets would be an option only to those with property outside an HOA, but there are a few questions you can ask yourself to help decide it it’s something you want to propose:
- How would you charge tenants if their pets damage anything?
- Is there a limit to a type of pet you would allow (small cage pet, fish, or any)?
- How much would it deter future renters with potential animal allergies from renting?
- How much would it deter potential renters who want to keep their pets?
Whatever you decide, be clear about the rules from the get-go rather than try to change your regulation later.
6. Good Landlord
Be prompt with the repairs. Tenants like landlords who at least acknowledge that the repair needs to be made, and then depending on how quickly it can be fixed, has it done within the week. Staying on top of maintenance will also influence the amount of replacements you end up making.
7. Safety
From fire and carbon monoxide alarms, to secure door locks, make sure your tenants have the minimum security measures in place so you are not liable if a break-in were to happen. They want to know that they are in a secure area, or at least have the measures in place to protect themselves.
8. Parking
Whether housing roommates or families, you are likely going to need parking space for more than one car. Ensure that you have enough space for everyone to park comfortably, else that may be a big deal breaker for your renter.
While these are only a few suggestions, it is a good starting point for those looking to rent out their home, and want an idea of what factors are on the priority list of potential renters.
