Before leasing a property, there are things that every landlord must consider when competing for tenants. Every perspective tenant has a list of amenities they wish to have when looking for a new property to lease. Depending on the person, these amenities might shift in order of importance, but for the most part, there are a few things everyone values in a new home.
This is, by far, the biggest factor for most people when looking for a place to call home. A tenant will be willing to pay more, even if the property needs work, if the location is a desirable one. Property near shopping, restaurants, and transportation tends to be very desirable, but a landlord should also consider which neighborhoods have low crime, good schools, etc. A good location should be used as the main selling feature when advertising vacancy.
An older property can be completely refreshed by updating certain aspects of it. Most tenants find updated bathrooms and kitchens to be the most appealing. Stainless steel appliances in the kitchen, for example, will give the property a newer look, even if the rest of it is much older. An open floor plan is another update that is well worth the investment. This layout will make smaller spaces feel larger.
When perspective tenants view a property, they are not just trying to envision themselves in it; they are trying to see where all their possessions will go. Closet and storage space are huge selling points for a property. Having a large outdoor area is another. Kitchens should have adequate cabinet space, as should bathrooms. These details will make the difference for a potential renter.
Having a washer and dryer in unit is a huge asset. Tenants will look for this. If having a washer and dryer is not possible, it should at least be available on site. It is essential to have easy access to laundry facilities; for most people, this is a necessity and a non-negotiable.
Tenants who view your property are probably comparing it to other properties they have seen or lived in. So, what sets yours a part? No matter what, the budget everyone is looking for the most luxury they can afford, so advertise the little luxuries such as large windows, a dishwasher, air conditioning, or the private off-street parking. Additional perks will go a long way for a tenant.