The adage, “cash is king,” is true for many, but when it comes to rentals “convenience is king.” Here are the rental amenities new renters care about most. If you’re a landlord and reading this, then you’ll want to know which amenities are most in desire and will have your tenants stay with you.
What is a rental amenity? An amenity is “any feature that provides comfort, convenience, or pleasure.” (dictionary.com)
Tenants are busy with work and families and are always looking to make their lives easier. From garage parking to in-unit washers/dryers, there are amenities you can make available to help them.
Keep reading to learn what rental amenities are sought after and can help you keep long-term tenants.
Plentiful Parking for Tenants and Their Guests
Coming home from a long day at work, pulling into your driveway after a night out, or asking guests for dinner and being unable to find parking for any of these situations easily can be one of the worst situations a tenant can find themselves in.
Not having ample parking to accommodate the lifestyle of your tenants will be a source of annoyance for them and could prompt them to start looking elsewhere for a place to live. You don’t want this.
Here are some helpful hints:
- If you’re in an urban area, consider assigning spaces so each tenant feels comfortable that they have a parking place.
- If you’re in a warmer and sunnier area, think about covering your spaces so the sun doesn’t damage your tenants’ vehicles over the years.
- If you’re in a colder climate where they’re snow, covered parking is also a good idea. Oh, and make sure to provide snow removal if needed.
PayRent makes collecting parking fees or charges easy, with automatic invoicing. Charges will appear as an independent line item on your tenants’ ledger.
*NOTE—Any of the above conveniences should be advertised to give you a competitive advantage over other properties near you that don’t provide this parking convenience.
If you’ve ever had to use the laundromat, you will understand why your tenants prefer not to have to take their weekly trips there. Schlepping dirty clothes, detergent, fabric softener, hangers, etc., can be very inconvenient.
Having in-unit washers and dryers is a definite plus for your property, but consider having a laundry room if you can’t put them in each unit. Also, someplace on the property designated for laundry enables your tenants to avoid the weekly laundromat trip and stay close to home.
If you can provide in-unit or onsite laundry facilities, you have the convenience to offer tenants that they will value and could keep them around for the long term.
A Good Deal of Storage Space and Walk-in Closets
You can assume that any renter will want ample storage space. They’re coming to your property from a previous location and are bringing their things with them. They are also collecting in real-time and are always appreciative of storage space that keeps them from renting extra space or containers offsite.
Here are a couple of ways you can extend storage space in your units:
- Extend the closet space already there—this is doable for some places and can be affordable.
- Build-in shelving units in the closets so allow for organized and extended storage. For example, you can build shelves and drawers to make room for sweaters, shoes, long and short hanging clothes, etc.
Smart Home Devices
Whiles not often thought of as rental amenities, Innovative home devices make a difference and provide conveniences to showcase your property to prospective renters.
While these smart-home devices won’t make or break a prospective tenant’s desire to live on your property, They can push them over the edge when choosing between yours and someone else’s.
Here are some smart home devices that you can consider including in your units to increase convenience for your tenants:
- Smart bulbs
- Streaming device
- Smart thermostat
- Smart Speaker
- Water Leak Detector
- LED Strip Light
- Indoor Security Camera
Provide Online Rent Payments
There are many reasons to provide an online rent payment option.
For tenants, the ability to pay rent through an online portal such as PayRent.com allows them to establish recurring payments on a specific day of the month along with a reminder of rent coming due. Renters even have the added flexibility of paying rent with a credit card.
Online rental payments reduce stress, anxiety, late fees and allow tenants to plan their rent and be on time so they can get on with their lives.
For you, the landlord, online rent payments can decrease late rent. In addition, online allows you to see rent payments in real-time, streamline your property management back-office operations, and reduce fraud.
Being Pet Friendly
Pets have become a priority in people’s lives, and having them makes a big difference in the rental units where they choose to live.
Being a pet-friendly rental property can boost trust between owner/property manager and tenant. In addition, renters who can have pets are less likely to move around because their furry friends get attached to their surroundings, and the owners are less likely to upend them.
Finally, offering a home to people and their pets can build a good relationship. It shows your trust in their responsibility to care for their pets and can give your tenants a feeling of gratitude.
Rental Amenaties that Matter
Making your property friendly to tenants with the rental amenities they want can be the difference between always looking for your next tenant and having long-term tenants.
Renters want to live somewhere that provides necessities of life and the amenities that make their lives easier.
By providing ample parking, in-unit on on-property washer/dryers, spacious storage, walk-in closets, the ability to collect rent online, and, in addition, being pet friendly, you are well on your way to bettering your property and getting the long-term tenants you’ve been wanting.