The increase in pricing in the housing market and lack of inventory have left some potential homebuyers renting instead of purchasing. As a result, these renters may not just be viewing rentals as a temporary stepping stone to homeownership and expect their rentals to have nicer amenities than in previous decades.
If You’re a Landlord, There Are 7 Amenities Your Rental Should Consider Including:
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Dishwasher – Rentals without dishwashers may experience more turnover than those that include one.
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Washer and Dryer – With all the great space-saver appliances on the market, there is no excuse not to find room for a washer/dryer unit.
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Refrigerator - If there are appliances in my rentals, I put it in the lease that the tenants are welcome to use them but if they break down it will be the tenant's responsibility to fix or replace them.
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Pest Control, Gardener, Pool Service – Renters are looking for low-maintenance homes. Including these services in your rent also ensures your property stays in great condition.
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Private Parking – Whenever possible, make sure there is a designated parking spot for the renter.
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Outdoor Space – While not always possible, when looking for new investment properties, opt for one with outdoor space.
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Home Warranty – avoid unexpected repair costs by adding a home warranty to the property.
Rentals have become a necessary alternative to homeownership for some. These renters will pay top dollar for the best properties. Make sure your unit stands out by offering the amenities modern renters want.