When renters search for a new home, a property’s location is thought to be one of the most important factors they consider. However, when the properties are located in the same neighborhood, there can be very few factors to separate one rental property from the rest.
A variety of amenities are among the factors that separate most properties that are listed on the rental market. These amenities should bring value to the user for the property to be more desirable in the rental market. Renters search for amenities that provide the most convenience and improve their quality of life.
Focusing on amenities that are the most attractive to renters makes your property more competitive in the rental market. Let’s take a look at some of the most desirable amenities that are popular with renters in Metro Detroit.
1. Adequate Parking Space
A good place to park your vehicle goes a long way in making your property stand out. To most people, a vehicle is considered to be a prized possession, and being able to assure its safety will provide renters with great peace of mind.
When assessing a potential parking facility, you need to consider the safety of the vehicles.
The vehicles need to be protected from the weather and be accessible to your tenants. You may also want to invest in security personnel as well as insurance. To offset these costs, you can charge your tenants an additional parking fee.
2. Thick, Soundproof Walls
Whether the noise comes from vehicles passing down the street or from the neighbors living next door, tenants still need to be able to get some rest after a long day.
Having soundproof walls in your property can help to significantly improve the comfort of your tenants. A tenant needs to be able to return to their home knowing they’ll have peace and quiet. For this reason, soundproof walls are highly appreciated by renters and they can be what separates your property from the competitors in the neighborhood.
3. Additional Storage Space
A property with adequate storage space is always highly rated by the tenants. However, some renters might have plenty of belongings that would require some extra storage space.
Providing room for additional storage makes your property more attractive in the rental market. Installing features like built-in closets and additional shelves can help to reduce clutter in a rental home.
You can also take it a step further and repurpose any unused space on your property such as the basement. In doing so, you will provide convenience for tenants who may have additional items that may not fit in their rental unit.
4. Access to Essential Services
One of the major factors that influence a renter’s decision on a property is the access to the services available in the neighborhood. Renters appreciate being able to walk to a nearby store, walk their kids to school each morning, or even rush to a nearby pharmacy in an emergency.
Having such services within walking distance of your property can significantly increase its desirability. Though you may not be able to change the location of your property, access to these services has an undeniable impact on the desirability of the property.
5. Access to Outdoor Spaces
Outdoor spaces can provide some functionality to any property. Whether it’s for hosting family gatherings, parties or a barbecue with some friends, access to an outdoor space can make your property much more attractive.
Does your property have a balcony with a good view? Do you have a patio or a garden in your backyard? Having these features can greatly increase the interest in your property.
6. A Modern Kitchen
The kitchen is one of the most commonly used areas in a household. This is where most families share meals together and it is among the most noticeable areas in a home.
Having an up-to-date kitchen can significantly improve your property’s desirability. A contemporary design with modern appliances and durable materials such as granite countertops can make it much more attractive.
Unfortunately, the kitchen is also prone to spills and accidents. Therefore you should consider using materials that are easy to clean and non-slip floor tiles to avoid any injuries.
7. Additional Amenities
Are there other amenities available on your property? Does the property have heated floors, in suite laundry or is it furnished? Such amenities can provide comfort and convenience to the occupants of a building.
Depending on your budget and the size and design of your property, you can invest some finances to install any of these amenities.
8. Air Conditioning and Heating Systems
A central air conditioning and heating system can provide great comfort to your tenants, especially in the summer and winter seasons. Such systems are efficient in regulating the temperature and providing great air quality.
Another benefit of having these systems is the ease of adjusting the temperature. People generally like being able to control their environment and by having such an amenity, your property will become much more desirable in the rental market.
Finding the right balance of amenities for your property can help to make it irresistible to renters in the market. Tenants look for comfort and convenience in the houses they rent. Rental properties with amenities that are centered on the needs of the tenants tend to be the most competitive in the market.
At Nelson Property Management, we have a highly qualified team of professionals who know and love the Metro Detroit Area. Our commitment to serving our clients and the city is what makes our company one of the best in the real estate industry.
If you need some assistance in managing your rental property, reach out to us. We have what it takes to get your investment to the next level!