Tenants’ expectations are higher today than they were in the past. With increasing competition among landlords to find great tenants, it’s important to make sure your property contains the features tenants are looking for in a home.
For landlords, a property that’s kept in great condition and boasts appealing features will maximise your chances of finding an excellent tenant. This is evident in today's current market, with the presentation and features of a property being key factors in making the difference between properties being leased or sitting vacant.
So which features are potential deal breakers for tenants?
1. A Well-Maintained Property That Looks Great
Tenants know that someone has in all likelihood lived in the property before them: but they don’t want to see visible reminders of past occupancies. Most tenants will gravitate towards a property that looks and feels new. Keeping your property well-maintained and well-presented will go a long way in boosting its appeal.
Remember that first impressions are all-important. If the exterior is off-putting, a tenant is unlikely to be convinced by whatever the interior has to offer. Keep the outside of your property neat and tidy, and if there is grass to cut, provide a lawn mower.
A rundown property could suggest that safety is inadequate, which will really impact the chances of your property being leased.
It’s also a good idea to make sure that all the doors and windows have strong, secure-looking, functional locks, as that will provide peace of mind and make it easier for tenants to look after the property and to get contents insurance. Sensor night lights can quickly add to a sense of safety and security around the property too.
2. Renovated Kitchen And Bathroom
Of particular importance to tenants is a renovated kitchen and bathroom. And most tenants nowadays consider a dishwasher to be a necessity, so installing one adds great appeal. For smaller spaces, invest in a dish-drawer.
New fixtures and fittings can quickly make a property feel contemporary. Replace lighting, tap ware, door handles and knobs on cabinets and drawers if they look worn or dated.
And it’s amazing how a coat of paint freshens up a property. Make sure to stick to neutral colours both inside and out, because these shades will appeal to a wider section of people.
3. Internal Laundry
The inconvenience of having to lug clothes off to a laundromat or shared laundry would be enough to put many tenants off an otherwise excellent apartment. While a dedicated laundry room may not be possible, a concealed laundry in a cupboard, or a combined washer/dryer built into a corner of the kitchen can add value and appeal and give your rental the edge.
4. Built-In Robes And Storage
Closets and storage space are a big concern for tenants. And some older properties don’t offer what most tenants are looking for in this regard.
We all have things we need to keep in storage, whether it’s due to a change in the seasons or having a hobby like skiing or music. Cleaning equipment, such as vacuum cleaners, also needs to be tucked out of the way. Having adequate closet space for clothes is also essential, and built-in robes are non-negotiable for most, and can add serious value to a property.
If storage space is lacking, consider installing some extra shelves. If space is too tight, investigate the possibility of adding shelving elsewhere, such as by allocating extra storage room in the back of the garage or installing a storage shed in the garden.
5. Reverse Cycle Air Conditioning And Insect Screens
Sydney’s sub-tropical climate can get steamy in the summer months, making it difficult to sleep or work without some kind of cooling. Tenants increasingly expect reverse cycle air conditioning in at least some rooms to keep them comfortable year-round – and for many not having it will be a deal breaker. Ceiling fans can be a good addition if you’re not willing to spend on air conditioning.
And we all love the fresh air, so install insect screens so that your tenants can enjoy the breeze minus the flies and mozzies. Encouraging ventilation also discourages mould and condensation: one of the biggest concerns for tenants and landlords alike.
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