The increase of pricing in the housing market and lack of inventory has left some potential homebuyers renting instead of purchasing. As a result, these renters may not just be viewing rentals as just a temporary steppingstone to homeownership and expect their rentals to have nicer amenities than in previous decades.
If youre a landlord, there are 8 amenities your rental should consider including:
1. Dishwasher Rentals without dishwashers may experience more turnover than those that include one.
2. Washer and Dryer With all the great space-saver appliances on the market, there is no excuse not to find room for a washer/dryer unit.
3. Alarm System Security systems cost a few hundred dollars and can add value to your rental.
4. Pest Control, Gardener, Pool Service Renters are looking for low maintenance homes. Including these services in your rent also ensures your property stays in great condition.
5. Central Air conditioning Homes with central air conditioning rather than wall units always command higher rents than those without.
6. Private Parking Whenever possible, make sure there is a designated parking spot for the renter.
7. Outdoor Space While not always possible, when looking for new investment properties, opt for one with outdoor space.
8. Home Warranty avoid unexpected repair costs by adding a home warranty to the property.
Rentals have become a necessary alternative to homeownership for some.These renters will pay top dollar for the best properties. Make sure your unit stands out by offering the amenities modern renters want.