By West Park Investment Group
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December 31, 2024
Features Renters Have Come to Expect: Elevate Your Property to Attract Tenants The rental market is more competitive than ever, and renters today are looking for more than just four walls and a roof. With shifting lifestyles and evolving expectations, certain amenities and features have become non-negotiables for many tenants. If you’re a landlord or property manager, understanding what renters prioritize can help you stand out and attract long-term tenants. Below, we’ll dive into some of the top features renters have come to expect, with a focus on the must-haves like stainless steel appliances , spacious living areas , and in-unit laundry options . 1. Modern Kitchens with Stainless Steel Appliances When renters step into a kitchen, one of the first things they notice is the appliances. Stainless steel appliances, with their sleek and modern appearance, have become a gold standard. Not only do they look great, but they’re also durable and easy to maintain—a win for both renters and landlords. Upgrading to stainless steel can instantly make your property feel more high-end and appeal to renters who want their home to reflect a modern aesthetic. Consider including matching appliances such as a refrigerator, stove, dishwasher, and microwave for a cohesive look. 2. Spacious Bedrooms and Living Areas Gone are the days when renters would settle for cramped spaces. Today’s tenants value room to breathe—whether it's a large bedroom that can comfortably accommodate a queen or king-size bed or a living room spacious enough for entertaining and relaxation. Open-concept floor plans are particularly appealing, as they allow natural light to flow freely and create a sense of connectedness between the kitchen, dining, and living spaces. Ample closet space and storage options are also a major plus, especially for families or individuals with lots of belongings. 3. In-Unit Washer and Dryer or Hookups Laundry is a basic necessity, but the convenience of doing it in the privacy of your home is a luxury that many renters have come to expect. Properties that feature in-unit washers and dryers—or at the very least, washer/dryer hookups—tend to have a competitive edge. If space or budget constraints make in-unit appliances impractical, consider offering an on-site laundry room. Even so, properties with in-unit options often command higher rents and attract tenants willing to pay for the convenience. 4. Energy Efficiency and Smart Home Features With rising utility costs, energy-efficient appliances, windows, and HVAC systems are increasingly important to renters. Not only do these features reduce monthly bills, but they also appeal to environmentally conscious tenants. Smart home features like programmable thermostats, keyless entry, and energy-efficient lighting can further enhance the value of your property. These modern conveniences signal to renters that your property is tech-forward and designed with their comfort in mind. 5. Pet-Friendly Accommodations For many renters, their pets are part of the family, and finding a rental that accommodates furry friends is a top priority. Pet-friendly features like fenced-in yards, pet waste stations, and hardwood or vinyl flooring (easier to clean than carpet) can set your property apart. Consider establishing clear but flexible pet policies, such as allowing small or medium-sized pets with a reasonable pet deposit or monthly pet fee. 6. Outdoor Space and Amenities With a growing focus on work-life balance, renters also value outdoor spaces where they can relax, entertain, or work. Whether it’s a private balcony, shared patio, or a well-maintained communal garden, outdoor areas provide renters with additional living space and increase the property’s overall appeal. Why These Features Matter Renters are willing to pay a premium for homes that check all the boxes of convenience, comfort, and modernity. By investing in stainless steel appliances, offering spacious floor plans, and providing essential amenities like in-unit laundry, landlords can not only meet renter expectations but also boost tenant satisfaction and retention. Remember, the small details matter, too—well-maintained properties with thoughtful upgrades signal to renters that you value their experience. In a crowded rental market, these features could be the difference between a vacant unit and a signed lease. Final Thoughts Meeting the expectations of today’s renters requires an understanding of their evolving needs. By focusing on high-demand features like stainless steel appliances, spacious interiors, and laundry conveniences, you can position your property as a top contender in the rental market. These thoughtful upgrades not only attract tenants but also improve the long-term value of your property—making them a worthwhile investment.