We talk a lot about what landlords should look for when buying a rental property, but what does a tenant look for? We have put together a list of Eight things MC Companies focuses on to attract tenants to our properties.
Location is the #1 priority for tenants. Most tenants are willing to drop other items on their wish list for the right location. Tenants look for rental properties that are close to work, school, shopping, or entertainment. Many investors miss the mark when it comes to location. They often try and purchase in a less expensive area, and that can result in high vacancies and lower rents.
Tenants want to feel safe in their home and in their community. They look for security gates, cameras on premise, low crime rates in the area, and an attentive staff. Anything additional you can do to make them feel safe is a big win.
You have to have reserved parking and also enough parking for two cars. If tenants can’t park conveniently, they won’t want to live there. Adequate parking should be one of the first things you take into account before buying a rental as well.
4. Open Floor Plan
Open floor plans are a trend that I think is here to stay. Long gone are the days of a cramped separate dining room. Open floor plans are a great way to maximize the available space.
5. Clean and Tidy
A clean and well-lit rental will win every time. Hire a professional cleaning company when you turn a unit and make sure it has the just been cleaned scent. Lastly, avoid air fresheners. That will only make people question, what are you hiding?
Most landlords don’t think of storage within the unit when buying a rental. Tenants look for space for their stuff, including outdoor equipment like bikes and skis. That is why walk-in closets or garages are a big draw.
A lot of landlords shy away from allowing pets in their units. At MC Companies, we have fully embraced our furry friends. We have found that with the right pet deposit and monthly pet rent, we attract a nice group of responsible tenants who take care of their pets and their community.
8. Quality Landlord
Finally, like any business, your business start with you. You have to be a quality landlord to attract quality tenants. This means fixing items in a timely manner, being professional, and hiring quality contractors.