Features That Will Make Your Rental Property Irresistible To Families
If you’ve been in the rental property business long enough, you understand that kids are high-impact on the properties. This could get you thinking why on earth a landlord would strive to attract families. If you’re contemplating on this, we got you covered. The main reason for landlords to go out of their way to attract families to their rental properties is because families tend to have longer tenancies. Unlike young adults who move frequently, families tend to prioritize stability. Both parents and children prefer setting down roots and settling in a home where they can grow. Moreover, families are the larger and growing renter population. Therefore, if landlords can target families effectively, they can enjoy low turnover for renters. How can landlords target these families?
Here are the top seven amenities that make a rental property irresistible to families.
Good Local Schools
Every parent has the desire to live near a well-performing local school. This is a fact since long ago and it will not change any time soon. When looking for a rental property to invest in, check on the quality of the local schools first. Parents can be willing to stay in a small home as long as the schools are high-quality and within a walking distance. Don’t just invest in any rental property without proper consideration.
Fenced-In Backyards
Just like high-quality schools, parents still need a backyard for their youngsters. After long working hours, parents can send the kids to backyard so that they can relax and get some peace. Backyard provides space for yard games for the children and even a garden for the parents. Fenced-in backyards will attracts lots of families. The more the families in a neighborhood, the more children make friends and remain occupied through entertainment.
Washer, Dryer and Dishwasher
Often called the marriage-saver trinity, these equipment are essential if you want to attract families to your rental property. Most renters expect a dishwasher, washing machine and dryer when looking for a rental property. Unless your property is low end, you should provide them to avoid deterring prospective renters. If you don’t have them in your rental property, you can buy smart home appliances which can be programmed and connected to the smartphones of your tenants.
The Walkability Balance around the Rental Property.
Most renters prefer a property with cafes, restaurants, bars, parks, shopping centers, playgrounds, and many more within a walking distance. However, more walkable may mean higher traffic which may not be good for children. The property should therefore be on a low-traffic road, within a strolling distance of a high-amenity street. Don’t choose a rental property to invest in without considering the walkability balance.
Safety Details of the Rental Property.
Many parents prioritize safety when looking for a rental home. To help with this, imagine you’re a parent and start looking for potential hazard on your rental property. Check the safety of the railings and balconies and ensure they don’t bulge when shaken. Make sure the wiring, paintings and any other security issue is well handled.
Size of the Rental Units
Families are greatly attracted to homes with 3 or 4 bedrooms and at least 2 bathrooms. A rental property with less than 3 bedrooms may not keep family renters for a long period. On the other hand, a property with more than 4 bedrooms may also not be able to make long-term rentals majorly because of the large maintenance costs.
Paint Flexibility
One sure way to keep your renter longer is by allowing them to have the sense of ownership in your rental property. Let your tenants paint their rental units with their color choice. The tenants will see the value you have for them and will love their stay on your rental property.