If you are a real estate investor looking to find tenants for your apartment investments, certain designs and features appeal more to tenants. From comfort to location, some features and additions are more attractive than others, and these are the things you need to incorporate into your properties. Here are some worthy additions or features you can invest in to attract more tenants to your rental properties.
When tenants look for a new place to live, they often envision what their furniture and belongings will look like in the property. When trying to decide on the colors of the walls and other built-in features, make sure that the colors and designs are as neutral as possible while still maintaining a touch of modernity and style.
You might enjoy brightly-colored walls or quirky wallpaper patterns, but those types of styles do not always work for the majority. The best thing you can do for your rental properties is making sure that their designs remain as neutral as possible so that the tenants can imagine themselves living in it as soon as they step into the home. Opt for muted and neutral tones across your walls, appliances, cabinets, cupboards, and other built-ins.
Sufficient storage and space
Now that the pandemic might cause people to once again stay home as much as possible, thanks to the Delta variant that’s sweeping our nation, potential tenants might be more inclined to invest a lot in the place they will call home for the next few years. This means that tenants might want to look for apartments that have extra rooms, or at the very least additional space, for their office. They might want more square footage so that their kids have a homework station.
This does not mean that you have to have hectares of land for people to even consider your rental, but that it has more space for potential tenants to feel like they can enhance and improve it to suit their needs. If your property is on the smaller side, you can create the illusion of a bigger space by incorporating more strategic storage solutions.
One example is opting for lighter colors such as warm whites or soft pastels to open up the common areas and make them look more spacious and airy than they actually are. You can also opt for more cupboards and strategically placed cabinetry. If the property does not boast of too much floor space, you can also look into vertical shelving.
Low-maintenance outdoor living
If the pandemic has taught us anything, it’s that we have to have homes that will allow us to still have some fresh air even if we’re cooped up in the house. Americans love the great outdoors as well, so a property with backyards and balconies will be attractive to potential tenants. If you must add features to the outdoor living spaces, make sure to opt for furniture pieces that are weather-proof and life-proof so that your tenants won’t have a hard time maintaining them. Opt for plants and grass species that are also low-maintenance so that even tenants with dark thumbs have a fighting chance.
Reliable heating and cooling systems
Depending on your location, you want to ensure that the property’s HVAC systems are up to scratch and that your tenants know that the property will have a comfortable temperature all year round. Make sure that the home comes equipped with adequate air conditioning for the hottest seasons, and proper insulation and heating for fall, winter, and early spring. If you must invest in anything, make sure enough funds go to the property’s cooling and heating systems.
Another thing that might attract potential tenants to your rental is a reliable security system. Property crime is surprisingly common in the United States, and homeowners need to do all that they can to ensure that their homes and properties remain safe, not to mention their family members. If your rental comes equipped with security cameras and state-of-the-art lock systems, those looking for a new place to live might be more inclined to choose your rental over others. It will give you an edge over other landlords, and you help protect families, too.
When done right, real estate is always a good investment, especially during a time like COVID-19. Give your investments a fighting chance by choosing design and decor that entices potential tenants. Give them an idea of what their life will be like when choosing your property, and it’s a win-win situation for everybody.