How do you attract tenants to your rental property? Set yourself up for success by keeping these 5 things in mind.
1. Good Location. The mantra of real estate agents: "Location, Location, Location!" This matters for your rental properties as well. Are you investing in a good location for future tenants?
2. Pet friendly. Not every property is pet friendly, and you may not be a pet friendly owner. However, 65% of U.S. households own a pet. Feel good about being pet friendly by utilizing additional pet deposits, fees, or rent.
3. Washer/Dryer In-unit. While this isn't a necessity, it may set you apart from other rentals and save you some damage to your property by reducing the number of times this bulky appliance is brought in or out.
4. Parking. Rental properties that include a garage are highly attractive. However, if a garage is not possible, how many spaces can you offer them and are they reserved spaces?
5. Technology-Enabled Devices. "Today’s renters are more tech-savvy than all previous generations combined. Increasingly, they’re looking (and willing to pay a premium) for technology-enabled units. This could mean installing smart locks to enable keyless entry into the building and/or unit, or installing devices like Nest to control HVAC systems and smoke alarms. These small luxuries will go a long way in setting your property apart from others."
- Amanda Maher, originally published on Buildium.