What is Boston Known for?
We’re a city rich in history but smaller than you’d expect for a major metropolis. Sports are a passion, and our colleges are top-notch. Boston is a hub for industries like healthcare, life sciences, software, and sneaker fashion. Our subway doesn’t run 24/7, bars close at 2 am, and without happy hour due to alcohol concerns, you’re often left finding an Uber or walking—not ideal, but I don’t condone driving under the influence. Housing is tight, but our charming brownstones rarely disappoint. However, landlords must maintain their properties to keep renting. If you’re looking to invest, here’s how to make your apartment stand out, starting with the most straightforward tips.
Easy Fixes To Make Apartment Standout
- Never underestimate the power of a good paint job. A fresh coat of paint can make a space feel brighter, bigger, and new.
- Upgrade the lighting and make sure that rooms are well-lit.
- Make those hardwood floors shine if it means restaining, deep cleaning, or both.
What Do Renters Want in Apartment
Once you have made those changes and are wondering what other changes can get you the maximum rent for your apartment, Apartments.com did a survey and found the number one thing that renters love and want is laundry in the unit. 92% of renters wish for laundry in the unit. The second feature that tenants want at 91% is central Air conditioning. The dishwasher 63% of renters wanted the feature in their next apartment. Garbage disposal only influenced 53% of renters. Private outdoor space is high on renters’ lists—landlords who allow pets, especially ones who enable dogs and cats. Pet Friendly is something many tenants want. 70% of renters own a dog, and 30% own a cat. It’s not easy for renters in Boston to find a pet-friendly place. I’ve heard all the reasons landlords ban pets, but often, it’s due to misconceptions about dogs or cats, and they say no. So landlords who want more rent allow pets and maybe limit breed and perhaps age. However, pet-friendly can rent your property quicker; sometimes, it commands higher rents.
Transportation and Walkability
Another feature that still matters to tenants is parking. Any off-street parking your unit offers is always a perk. Yes, you can find in a city you might get that tenant who doesn’t want a car in the city, but if you find a tenant who wants to have parking, you can command a higher rent when your unit comes with parking, and if you rent it without parking you can always rent it out. Mass transit can add value to your rental depending on your apartment’s distance. It adds property value, which equals rental value. Most tenants want to be far enough from the Station but close enough where they have a short walk. Walkability is also essential. You can’t change the location of your apartment, but when looking at your property or investment, note not only about transportation but how walkable it is to the drugstore, supermarket, restaurants, and shops. A property close to transportation and places like Starbucks increases the value, and it makes sense that it makes things more convenient.
Other Amenities
Outdoor space apartments.com said only 32% of renters care about common or private outdoor space, but as a real estate agent, that number should be higher. If an apartment only has room for one bathroom, make sure it has a tub. If you have more room, a half bath is a nice feature, but one room should always have a tub. Walk-in closets only wow 35% of renters when looking at apartments. As an agent, I’m surprised that only 35% of people see storage as a must-have. Nonsmoking buildings concern 32% of renters, though it’s likely higher in Boston, Cambridge, and Brookline, where many are health-conscious.
Security
Security isn’t a topic clients ask me about, but they do notice details when they first walk in.
- Will the interior of the building be lit
- Are there any cameras in common areas
- How secure is the entryway, especially when it comes to packages?
- Does the intercom offer audio only or audio and visual
73% of renters care about their buildings and make sure that if they have something delivered, it’s safe and protected from theft. Some landlords have installed cameras in mailrooms and the entrance of buildings to help prevent theft in and around them. These cameras used to be expensive, but now they are relatively inexpensive.
Quality of Renovation
Renters may lease your place, but they still appreciate quality. Going cheap forces more frequent renovations, while using quality products extends the time between them.
One landlord I worked with renovated her units with fixtures and appliances she’d want for herself. She joked that her tenants had better kitchens than her own. Nearly a decade later, she hasn’t lost rent because she focused on value. While some features don’t matter to tenants, most upgrades add value. If you cut corners, renters will notice and either pass on the listing or offer less. To get top rent, invest in what renters want and recognize quality. If you are doing a renovation, another place worth spending the money on is bringing your rental in compliance with lead paint. A rental with delead certification will not only help the landlord avoid headaches, but often, most homes are not deleaded in Boston, Cambridge, and Brookline. A rental that has been deleaded is a big advantage. A delayed home might also extend the time your current tenant stays with you. There are tons of programs out there that make deleading a home economical and not as overwhelming. Spending more money wisely will save money and increase rental value. If you’re considering renovating or buying an investment property, contact me.
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