What Do Tenants Want?

Higher rental inventories and overbuilding, plus foreclosed homes and job losses combined to make one tough rental market in 2009—and it’s predicted to pocket up again through 2010.

So what will make your rental material goods stand out from the rest? With tenants in the driver’s seat, asking for lower rents and other amenities, what can landlords and material goods managers offer them? What do quality tenants want?

Price, price, price: Tenants want to be sure the rent is in line with the going market rate.

Location, location, location: Parents want to be close to their child’s school. Most all prefers to be close to their work. Students like to be close to campus and to nightlife. Families want to be close to parks, grocery stores, city center, the library—you get the picture. Convenience is a huge factor.

Cleanliness: A spotless rental unit will appeal to all.

Fitness facilities: Apartment complexes with a bright, clean fitness room with newer equipment that works properly will score higher with most tenants.

Garages: A garage with an automatic door opener is a huge draw to most mid-to-upper income tenants.

Appliances: Dishwashers are nearly a must. Everybody likes washer/dryer hookups. And if your rental has the washer and dryer as well, it will be scored higher than one without.

Closets and storage: People need interval to store their stuff. Lots of closets inside, plus decent outdoor storage for their toys are most appreciated by higher-income tenants.

Accessibility: For older renters and those with physical limitations, simple access to the material goods shows that you care (and for certain properties, is mandated by law).
Reckon about the type of tenant you want to pull towards you, and add the improvements that will pull towards you them. If your rental unit already has everything your target tenant wants, make sure your advertising says so!

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