Tenants look for key amenities when they’re in the market for a rental apartment. These apartment amenities not only make your rental listing stand out but also attract the ideal kind of tenant that you’re looking for. As a South Florida property owner, there is a countless list of amenities you can add to your apartment, but which amenities bring the greatest return?
Want your apartment to be irresistible? Add these amenities to your rental unit.
What are amenities?
Amenities are features that the tenant can use while they’re renting out the unit. Some amenities are part of the property, like a backyard, while others are “add-ons” that come with the property, such as an in-unit washer and dryer. However, it’s worth mentioning that amenities aren’t limited to what the property investor can provide – it also includes public amenities such as schools and hospitals.
Why should you add amenities to your listing?
Apartment amenities can be the deciding factor for your potential tenants. When tenants look for a property, they’re keeping an eye out for features that satisfy their lifestyle. If your property offers these features, it will be more desirable to a wider pool of tenants.
These features are important as they add to the appeal of your rental property. The more amenities surrounding (or inside) your property, the better it is. Furthermore, including apartment amenities in your rental listing can help you increase your rent.
When listing your rental property, your multi family property management company will showcase these amenities to attract tenants and to help them find homes that match their criteria. For instance, a pet-owning tenant that’s looking for a pet-friendly rental will likely filter their search. This not only helps the potential tenant, but also the property owner whose concern is to get their units filled fast.
What apartment amenities are irresistible to tenants?
Not all amenities deserve to be added to your investment property. A pool, for instance, seems desirable but tenants actually consider it a risk. With that said, here are a few of the best apartment amenities to add to your rental unit:
#1 In-Unit Laundry
No one wants to run down to the laundry room nor leave the building every time they have to do their laundry. Whether your tenants are renting a unit on the fifth or fifteenth floor, consider adding an in-unit washer and dryer to boost the property’s overall value. While the law doesn’t state that property owners need to do this, adding an in-unit washer and dryer can add to your property’s appeal. It’ll stand out in the listings.
But, wait! Do your research before offering an in-unit washer and dryer if you don’t own the building. Not all multi-unit properties allow in-unit washers and driers to be installed. You could also ask your South Florida property condominium management company to double-check for you.
#2 Pet Policies
Pet-owning tenants consider their furry companions as family, so understandably, they’d be interested in renting a unit that allows pets. While renting to pet owners comes with both advantages and risks like attacks, bites, etc., it also widens your tenant pool. To mitigate the risk, consider asking your tenant to pay a “pet deposit” and conducting a pet screening.
If you want to attract pet-owning tenants, consider offering pet amenities like pet parks and free doggy bags to encourage tenants to pick up after their pets. You should also consider changing the flooring to tile or laminate, as these are easier to clean and are scratch-resistant.
#3 Stainless Steel Appliances
Potential tenants can’t say no to stainless steel appliances. If you’re offering a furnished apartment, go for stainless steel appliances such as a dishwasher and refrigerator. These upgraded kitchen appliances make the unit look more modern, plus, they’re a perk for tenants that like to cook!
Take things further by swapping out the unit’s old tile countertops for granite countertops, as well. Granite not only looks sleek, but it’s also durable. That way, you won’t have to replace your kitchen tiles every few years!
#4 Smart Features
Smart features aren’t as important as other features, but considering how today’s tenants are embracing tech, it won’t be long until smart features become the deciding factor. Modern-day tenants are tech-savvy and they want the convenience of smart systems in their rental units. If your rental unit isn’t smart-enabled, you won’t be able to catch the eye of a particular pool of tenants.
Besides, today’s tenants are becoming more eco-conscious. If your rental unit has a smart thermostat, it’ll become more desirable to them.
You don’t need to add high-end smart upgrades to your apartment. You can start small, for example, smart door locks like Ring, and smart home systems like Alexa. If you can’t afford to offer these now, at least give your tenants a convenient way to pay their rent, utilities, etc. by partnering with a property management company with a tenant portal.
Whether it’s a walk-in closet or a built-in kitchen cupboard, if your unit has more storage than the regular unit, you’re sure to impress potential tenants. This is because tenants aren’t willing to purchase containers, wardrobes, etc. that they’ll have to drag into the elevator and bring all the way to whatever floor they’re on.
If your rental property doesn’t come with storage, consider remodeling it. Start by building walk-in closets so you don’t need to make significant structural changes. If you’re furnishing the unit, choose furniture that doubles as storage, such as beds with drawers. In addition, don’t fill the unit with furniture to give tenants the opportunity to convert the space into whatever they want.
The next time you conduct a home remodel, get tips from the experts at Luxury Property Care. As a property management company that’s been in the business for fifteen years, we know the ins and outs of the market, and we know what’ll attract tenants in your area. Our property managers will make sure that your apartment amenities are what tenants want.