Owners often ask me what matters to renters? What can help get my unit rented faster?
Renters in many cases are buyers in training and I will explain why renters are buyers in training.
1) Renters like buyers like nice things, and unlike prior generations, they are less likely to just settle. Most buyers in the market want turn key units, and renters are no different. They want high-end finishes that don’t just look high end but are high end made by solid product. They know what appliances and finishes are high ends, and they know what says cheaply done
2). Renters like buyers care about location and even though they might spend less money to live on X street they would prefer to live on Y street if they can and many times don’t feel they are in a market where they have to just settle.
3) The layout also matters to both parties when they are looking at a place to call home, and many times layout will trump square footage, but not always there are folks who want to live in a certain square footage and won’t settle even if the layout is pretty good and feels bigger. Open concept Kitchens. Equal Size bedrooms are still rare to find and if you can make both bedrooms pretty equal with good closet space that will help.
4) They both have to be able to see themselves living in the home and in the neighborhood.
5) Neutral finishes to some seem safe and boring, but a home on the rental or sales market with neutral finishes will speak to more people and will help the customer see themselves in the home because more of their personal belongings will go with the home. Buyers don’t want to do more work than they have to, and renters know it’s often an uphill battle to change things in a rental since the owner might like the finishes as-is.
Other items that can make your home stand out if you happen to be pet-friendly that will always help you attract an ideal tenant, but not a guarantee. There are often fewer options for pet owners especially for dog owners but doesn’t mean your place will rent.
Offering incentives are nice from one-month rent free or offering to pay broker fee or paying relocation costs. Everyone likes to save money, and there was a time renters were stuck between a rock and hard place with not enough options and too many people competing for the same place. Many of the larger rental buildings that have moved into the area are offering that on top of their building amenities, and yes one could make the argument well if a tenant rents my place they are living with fewer people, but that might not hold enough of an argument to rent from you. So any incentive you can offer can help get your rental rented, and remember that tenant walking through your property has done their homework, and they know what else is out theirs. If your looking for a rental or have a rental that needs to get rented contact me.
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