10 Features Tenants Want in a Rental Home
Posted by apm on June 12, 2023 | News, Property Management
Celia Burbery, Property Management General Manager, outlines 10 key things tenants look for in a rental home.
Having quality tenants who care for and respect their rental home is vital to success in property investment, other than having a professional property manager of course! Not attracting tenants can result in a whole world of disappointment with vacancies and loss of income so, when you’re looking for your next investment property, here’s a few boxes to tick to attract the best tenant. Of course, location is always the trump card!
10 features that make your property more desirable to tenants are (in no particular order):
1 – Storage
Good storage areas are a selling point and often ‘a must’ when tenants are looking to rent. Whether it’s a walk-in wardrobe, built-in wardrobe or even storage rooms and cupboards/areas, tenants often seek out properties that can accommodate more storage.
2 – Parking
Especially in central Auckland, parking options are in high demand. Rental properties with parking options for 1-2 vehicles are attractive to tenants as many have more than one car for their household/family. Even better is lockable or secure parking.
3 – Cleanliness
Visually unclean properties are get a big NO from prospective tenants. Presentation is key when attracting quality tenants. Property viewings are an opportunity for tenants to see if the property is suitable for them. If the place is dirty or unkept then it’s highly likely the property won’t encourage applications.
Whilst existing tenants are expected to leave a rental property reasonably clean (and some do that very well), sometimes a little top up with a spring clean will make all the difference.
4 – Heating and Air Conditioning
Heating is required in rental properties in accordance with the Healthy Homes Standards legislation. However, tenants won’t just be looking at heating options, but also what cooling/air conditioning options are available. Many properties these days have heat pumps with a cool function so they can be switched to the different modes for the different seasons.
5 – Quality of the Property
Does the property need obvious maintenance work? Does the property look like the owner looks after it? Is it neglected? These are questions prospective tenants ask themselves when looking at rental properties. Ensuring rental properties are in a good state of repair is a requirement of the Residential Tenancies Act and is a landlord responsibility. If the paint needs a refresh – do it, if the curtains are tattered, replace them. Quality tenants will want to look after a place if they can see it was looked after before.
6 – Pet Friendly/Flexibility
According to Companion Animals NZ, it’s estimated that 64% of households in NZ have pets, so chances are many tenants and responsible pet owners are likely to be looking for pet friendly rentals. Pets can be more than just a ‘pet’, they can be valuable family members. Pet friendly rentals are highly sought after and I’d much rather have a quality tenant with a pet, than a difficult tenant in arrears without a pet.
Worried about pet damage? We use a specific Pet Addendum to ensure there are no issues at the end of the tenancy.
7 – Dishwasher
Let’s face it, no one likes to wash dishes by hand. A dishwasher gets a big ‘tick’ from prospective tenants however it does need to be one that works well too! Old dishwashers often need regular maintenance which frustrates tenants and costs you as a landlord in the long run.
8 – Ensuites
A second bathroom is another big selling point to tenants, especially those with families and looking to rent standalone houses/town houses. If your investment rental property is an apartment catered to 1-2 people then a second bathroom may not be needed, however if you have a 3+ bedroom house, another bathroom/ensuite or at least a second separate toilet is appreciated by tenants.
9 – Garage
A single or double garage for onsite covered parking is highly desirable, especially for households with more than one car. This ties into our number 2 item, adequate parking. A garage ensures plenty of parking available for tenants, and many people also use the garage as storage, meeting our item 1.
10 – Outdoor Living
An opportunity to be outside on the deck or veranda is always seen as a lifestyle bonus by tenants. Are you able to add this to your property if not already available? Outdoor/Indoor flow makes all the difference.
BONUS – Low Maintenance Gardens
Easy care gardens are an easy win-win situation for both tenants and landlords. Many people hate gardening, and tenants can have busy lives. Low maintenance outdoor areas or gardens help ensure your property is kept tidy and helps tenants keep it tidy.
Celia Burbery
General Manager – Property Management
apm
If you have any questions about the residential rental industry or would like to talk to someone about the management of a property, then complete the online form below and we will be in touch.