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Top 10 Rental Features That Attract the Genuine Tenants

Admin 02 May 2022 561 Views
Knowledge

It doesn't matter if you have a great real estate property with you, it will all be considered useless if you don't have the ability to get a tenant for the place. At the end of the day, the goal of a real estate company or agent is to earn handsome profits

When we talk about a property a tenant looks for a number of things such as quality of the property, the surroundings, excellent schools in the locality, the location, the distance between office premises and the property, and henceforth. 

The top rental features that catch the attention of the tenants are as follows:


1. Safety and Security

Every tenant searches for a place that's safe. Being safe and secure is something of utmost importance for the tenants. This feature might seem like a simple point but it's very powerful and can influence the decision of the tenant at any point in time. Most of the tenants spend a large portion of their money to lease a home instead of an apartment because they along with their families want to live in a safe environment. 

So whenever you are finding an investment property, make sure to do your research regarding the crime statistics in the particular communities. This way, you will be able to get your hands on a safe and sound real estate property. 


2. The Location of the property

Let's say for an instance when we go out for dinner somewhere don't we think about which place is best, which place offers delicious food and most importantly is the location of the place apt. A genuine tenant would always pay full attention to the location of the investment property. For some tenants, the view from the location matters a lot. 

Following are the pointers you should keep at the back of your head while selecting a property with a good location. 

  • The investment property is located at a place where the crime rates are low. 

  • The tenant can move from one place to another easily. If there is a mode of public transport like a metro station or bus station near the property, then that's like a cherry on top of the cake. 

  • Another valuable point to be noted is that the property must have plenty of tenant-relevant amenities and services. 


3. Educational and Entertainment Amenities 

When we discuss requirements that a tenant will likely have, the amenities can vary from tenant to tenant. For example, if a tenant who is pondering over moving into your property has a big family that includes children, then having a good school in the locality will be his/her first priority. A park nearby would be an additional bonus. 

On the other hand, if you are for a young professional to reside in your investment property, then he/she would prefer to have some sources of entertainment around the spot itself such as cinemas, clubs, and so on. It is very essential to cater to the needs of your tenant, if your tenant will be happy then ultimately you will be in a happy space. 


4. Ready to move in situation

The actual condition of the property will play a pivotal role in the tenant's final decision to move into your rental property. The condition of the property is pretty much a big deal for the tenant. 

A great tenant will have great expectations and will expect the property to be top-notch. Contrary to this, if the property needs a little bit of furnishing of some sort like painting, flooring, cleaning and a tenant is fine with it and is ready to give you time to make it lavish, then you can't have high hopes from that type of tenant. 

If you present your property in the best way possible, then there are higher chances of the tenant being impressed with your level of standards and professionalism in life. The saying, 'your first impression is your last impression’ seems apt in this case. 


5. Quality of the Neighborhood

The quality of a neighborhood draws a crystal clear picture of what the neighborhood is all about. Another factor that's very vital is the neighborhood amenities available at the spot. Listen up my friend; you should always go for quality over quantity. 

Good tenants tend to get drawn by amenities like swimming pools, tennis courts, bike trails, lakes, exercise facilities like a gym, and relaxation therapies like a spa. By the end of the day, all a tenant is looking for is a place that feels like home. 

So make it a point to see to the fact that the neighborhood in which your rental property is good in all aspects.


6. Access to public transportation, grocery stores, and restaurants

Having easy access to public transportation, grocery stores, restaurants, and shopping malls is a must on the list of a tenant. This is going to affect their decision a lot, as they wouldn’t like to cover long distances to get their essentials. If there will be public transport and the rest of the services nearby, then the tenant will be more inclined to stay in your rental property.

Elements like public transport will impact the overall stance of a tenant as it will be related to the quality of their lifestyle and workforce commute. So when a tenant is trying to track down property, he/she will pay heed to the transportation. When you buy an investment property, go out of your way to follow up with the modes of transport available in that particular area.


7. Availability of Appliances

So when a tenant thinks about leasing a property, he/she already has high expenses on their hand. Their head is full of thoughts about the rent of the property, how will they gather money for the same. They cannot afford to spend a single penny on the appliances as that comes under additional things. If your property will have appliances like a refrigerator, air conditioner, then it will be a win-win situation for both of you. 

You wouldn’t want to lose on a great tenant just because your property doesn’t have a good share of appliances. The installation of the appliances will also enhance the standard and quality of your property. You may have the best rental property in the city, but if there are no appliances in it you may not be able to find a good tenant for it.


8. Age of property

Most of the tenants would like to move into a property that is new. The old properties tend to have less demand in the market. How old or new is the rental property is an essential factor for the investors as well as the tenants. No one wants to make their life a mess by living in an old property. 

The old properties are a big no-no for the tenants as they would not like to face bad HVAC systems, plumbing, and electrical systems. All these things will add so much chaos and tension to their daily lives. An investor must get a new property instead of an old one. The best piece of advice that a person must take while buying a property is that the property should not be older than 15 years. If the age of the property is less than 10 years, then that would be great.


9. Privacy

Everyone likes to enjoy their privacy. No one would appreciate it if you keep poking your nose in someone else’s business. I know you must be thinking about the fact that it’s your property so you should know about the whereabouts of the tenant. That’s absolutely fine but to an extent. 

A tenant would expect you to have the basic decency of not indulging in their life. If you want good tenants to stay on your property, then you should give them a sense of privacy. The tenant must feel comfortable and at ease, in the space, you are offering them. Let your tenant enjoy life to the fullest. 


10. Rent of the property

And it all comes down to the numbers. What is the price of your rental property? Does the price match the expectations of the tenant? Almost every tenant has a great superpower of negotiating when we talk about the prices but they come at that point only if your property leaves them speechless. 

If you want a great tenant for your property, then you must be open to negotiations. You can meet your tenant halfway through which means you and the tenant can have a discussion and then finalize on a middle ground.


Conclusion

Be certain that your investment property is the best, and then only it will be able to catch the eyeballs of good tenants. The investment property must look like a perfect masterpiece. Any fault in the piece of art can push the audience away. Do deep research before putting your money on any property. This way, you will be well-informed about the types of properties that are performing well in the market.


About Author

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Jatin Dubey

An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.

An enthusiastic content writer who is a law graduate and has been working as Real Estate Consultant for around 9 years.
He has worked with top Real Estate Agencies and Builders in Delhi, Bangalore and Pune. His skills to perform market analysis and explore high potential localities has helped many clients in the past.