Did you know that 36% of the United States people are renting out their homes rather than buying them?
Renters rely on filling their apartment buildings to make a steady income.
In order to have a successful renting business, you must know what tenents are looking for so that you can keep up with current demands.
Continue reading to discover 10 apartment amenities that tenants are looking for and how you can avoid having an excess of open rentals that need to be filled.
1. Updated Technology
Many of the current people looking to rent are in the millennial generation, where technology use is expected.
Giving your tenants the flexibility to communicate, pay bills, and put in requests online is recommended. Not only will it keep information organized, but your tenants will likely feel more comfortable reaching out and it can make your work run more efficiently.
2. Allowing Pets
Many tenants are looking for apartment amenities that involve their furry loved ones.
Allowing tenants to have pets, typically cats and dogs, can improve your business and bring in new people. People with animals are not likely to get rid of their beloved pets just to stay in an apartment, they will likely look for an apartment that will meet their needs.
Many renters have concerns about allowing pets into their facility due to odors, damage, and risk of injuries. There are many ways that you can control these issues, however. Knowing how to remove pet odors can be an easy fix to unwanted smells, having tenants get insurance and putting a limit on how many pets can also be useful.
3. Outdoor Areas
One of the best apartment features that you can offer your tenants is quality outdoor areas for them to relax, play, and workout in.
Although many residents in apartments are small families or single, having areas to enjoy nature in are a plus. Offering walking paths, playgrounds, pools, and other outdoor activities are a great way to keep tenants happy and a good area for children to play.
Even if there is a park nearby, having a designated area for your residents is recommended to encourage people to move in. One of the worst things about apartments is not having a yard, giving them space will help fix this issue.
4. Safety
Having safety and security measures in place are typically an expected apartment amenity for tenants.
Putting someone at the door to monitor who is coming in and out can make tenants feel more comfortable and taken care of in your building. If you are unable to afford a doorman or security team, getting cameras around and in the building can help, along with installing a high-quality lock system on all entrances.
5. Quick Maintenence Help
Not all landlords live on or near the properties that they rent out, however, tenants still expect to get quick and convenient service when maintenance is required.
Ensuring that someone, or yourself, is available around the clock can make your tenants more satisfied with their residence and have confidence that issues will be taken care of. When tenants can rely on good service, they are likely to stay and not look for other living arrangements.
6. Free Parking
Parking is one of the largest factors that come into play when tenants are looking for a place to stay.
One of the best apartment amenities is free parking or having designated areas to park. Although parking may be a fee for tenants, it is still important that you offer this amenity.
In highly populated areas apartment landlords may only be able to offer street parking or one spot. Giving tenants a parking structure that is close by and offering them areas, where guests can park, is always a plus.
7. Washer and Dryer
Everyone wears clothes every day (hopefully) and requires a way to clean their belongings.
Having a washer and dryer available to your tenants is practically a must unless you are connected to a laundromat. Many people prefer the convenience of having a washer and dryer in their unit or on the same floor that they live on.
Supplying a couple of machines that your tenants can use can be the difference between happy and unsatisfied residents. Most people prefer to do their own laundry to cut down on costs so it is important that you provide both a washer and dryer.
8. Air Conditioning
Depending on the time of year and the area you live in, you will more than likely need air conditioning for your residents.
Tenants prefer to reside in apartments that have central air conditioning so that they don’t need to spend extra money on box fans and window air units. Offering air conditioning is practically a must in hot and humid areas, so be sure that you supply this if it applies to your business.
One of the benefits of getting central air is that you will save on energy costs because window units require so much energy.
Besides air conditioning, tenants may also require heating in their unit, depending on your location. In many old apartments, the building is heated through hot water radiators or baseboards and boilers.
Making sure that you have good insulation and using whether tape can be good ways to save money on heating and AC costs, along with using temperature regulated heaters.
9. Storage Areas
If you truly want to impress and satisfy tenants and potential residents, offering storage areas and extra closet space can help!
Apartments are already quite small and many people are required to downsize their belongings when moving. Offering a decent amount of storage room can draw in new tenants.
Did you know that the average cost of a storage unit is $100 a month?
Tenants will be extremely pleased if they discover that they have enough space in their apartment for all of their belongings and will more than likely continue doing business with you.
10. Good Location
Having a good location to offer your tenants is one of the most influential decisions when choosing a new home.
Just like any successful business, location is key and you have to fight to be in the best areas to get the highest foot traffic and attention.
Many people prefer to live close to their work, school, friends, or entertainment to cut down on transportation costs and time spent commuting. Having a walking path or entryway that is convenient for tenants to get from point A to B is always a plus when filling vacancies.
Being in a convenient location is especially important when your apartment building is in a large city. Many people in the city don’t have their own vehicles and use public transportation to get around and save on money.
Things to Avoid
Every renter knows that their tenants have a certain expectation on the places that they would like to live in, and keeping up with their standards is important for your business to be successful.
However, there are certain things that can turn tenants away from your apartment or they may not re-sign their lease. To keep your business profitable and tenants happy, it is crucial that you avoid certain things that tenants won’t want to see in their potential home.
Making residents hand in their checks personally each month is something that tenants don’t want to deal with. It is also important that as a landlord, that you don’t miss tenant calls or avoid fixing maintenance issues.
Showing up unannounced and too frequently is also a red flag for tenants, be sure to monitor how frequent your visits are.
If you are a beginner, you may need to take a look at our tips to be a successful landlord so that you can start off on the right foot!
Quality Apartment Amenities That Turn on Your No Vacancy Sign
Staying up to date on the expected apartment amenities that tenants are looking for can help you make more money and increase overall satisfaction in your apartment.
If you were to put yourself in the shoes of potential tenants, would you be impressed with the amenities offered at your apartment?
The features that you offer your residents are the reasons that they choose to live under your roof instead of someone else’s. It is important that you utilize this article as a guide if you are trying to attract more residents, and keep current ones from leaving.
Offering things like a let friendly environment, air conditioning, online communication, parking, and washer and dryers are easy ways to keep your tenants happy with their living arrangements. Although they may cost money, supplying these amenities will make you more in the long run.
