Do you ever think about what you could do to positively impact the quality of your property without breaking the bank? Of course, like many of us, budgeting for improvements is always the first thought. There are small amenities that you can add to make minor improvements to fix up your property, show your tenants that you care, and even increase perceived value.
As the years go by, people’s expectations change regarding what they want in their homes. As a landlord, it’s in your best interest to pay attention to the evolving trends and keep your rental properties current. Amenities must reflect the area around your rental property and the type of tenant you want to secure. Adding minor upgrades or new amenities can set your rental property apart from your competitors.
Keep reading to learn about the small amenities that can make a big difference.
Outdoor or Shared Amenities
Pet Friendly—If your property isn’t already pet-friendly, you may want to consider making it one. 63.4 million U.S. households keep dogs. That’s a lot of people with dogs who will be looking for places to live.
Dog Park—Having a dog park gives your tenants an excellent place to socialize. Your property becomes more of a home when people get to know their neighbors. The more they feel at home, the more they’re likely to keep living there.
Pet Washing Station—If you’re pet friendly, maybe consider having a place where your residents can wash their furry friends.
Doggie bag dispenser—If you are a dog-friendly place or if you’re considering becoming one, remember to have a doggie waste bag dispenser.
Bike Racks and Bike Storage—More people are riding bicycles for their health. Consider giving them a place to keep their bikes safely.
Laundry Room—A place to socialize while having more space for washing clothes. In addition, utilizing can be a more efficient use of resources – water, electricity, and space.
Enjoyable Outdoor Areas—Giving people opportunities to enjoy the outdoors and each other is an excellent way to build a “community” of neighbors. Consider putting in a firepit, some nice outdoor furniture. You can use an open space on your property or even consider a rooftop.
New cabinet handles—This is an inexpensive cosmetic change and can add some splash to your rentals. Old hardware can make your apartments look outdated.
Credit Reporting—Renters don’t often get credit for paying their rent, likely their largest expense. Help them build a solid credit history by reporting rent payments to the credit bureaus.
Washer/Dryer—Having a washer/dryer unit in your apartments will give you a competitive advantage. If you already have the hookup capacity, consider installing the washer/dryers for your residents.
USB Ports—Having a USB is a small convenience but critical in today’s technological world.
Closet shelving—Consider building out closets. Built-out closets are attractive and give tenants more room to store their clothing and items. In addition, there are very economical ways of doing it these days.
Smart locks—Having smart locks provides increased security for your tenants’ convenience,
New faucets and fixtures—Like cabinet handles, fixtures such as kitchen and bathroom faucets, along with light fixtures, can be outdated and make apartments look old. So, take a look and think about updating.
Upgraded flooring—updating flooring by using laminate is an inexpensive way to go. Upgrading from carpet to flooring can give your apartments a pop that attracts new tenants more quickly. Laminate can take a beating and is easy to install.
Online Rent Payments—Show your renters that you value their time by offering convenient online rent payments. Online platforms allow renters to schedule upcoming payments and to pay with credit cards, giving your renters more say in how they pay.
We invite you to look at PayRent. Our app allows you to collect rent, so it’s easier for your tenants and, therefore, more reliable and secure for you.
A Final Thought
Providing small amenities to your tenants can make a big difference in how your property is perceived, the number of people interested in becoming tenants, and the retention of the tenants.
If it’s been a while since you assessed your property and its cosmetic and functional appeal, now would be a good time. The world is changing speedily, and people are looking for homes where they can have the conveniences of modern living.
Why not make your property the best place for them to be? Their comfort and convenience are your wins—mutually beneficial for everyone!