What Features In a Home Will Renters Pay More For?

Strong build / Mint condition

The past two years have been all about feeling safe. That's precisely the quality tenants look for in their next property. For all buy-to-let landlords out there, the premise is pretty straightforward: a newer build or a complete remodel is something that attracts tenants. The very thought of having to deal with repairs upon moving in nauseates renters, but be careful; DIY improvements gone wrong at your property are not worth the risk. Is the floor creaking? Are the windows hard to close? Is there outdated kitchen cabinetry? It's time to fix it.
 

Me, my pet, and I

Over 40% of California households are proud pet owners, and they're not moving in without their besties. Pet-friendly policy happens to be one of the most sought-after features in properties for rent.

Making your property pet-friendly makes it stand out in the real estate world and (almost always) guarantees a long-term contract, giving landlords financial stability and peace of mind. Adapting the property to fit the needs of pet owners is one feature most Floridians are currently looking for when renting.
 

Let there be light

Tenants want their homes bright. And this is California. We also want that sunshine, and we want it 24/7. One of the top mistakes that landlords make is covering their windows or making them too small. Your tenants moved to California for a reason – sunshine and glorious weather. They want to experience it without necessarily leaving their homes. Natural light makes everything better, from our hormones to aesthetics. Hence, big windows should be on any landlord's checklist.
 

Closet space

What features in a home will renters pay more for? Closet space. People need it to keep their wardrobe, memorabilia, vacuum cleaners, etc. Adequate square footage is something most tenants look for in properties. We are creatures of nostalgia; we reluctantly throw things away, especially if we're in any way emotionally attached. And as time rolls by and our lists expand, there's always a growing need for more storage space. So, dear landlords, closet space equals a good payday.
 

Let's talk storage

Long-term renters are all about storage. Look at it from their perspective for a second - renting is like being a modern nomad. So, what do you do? You take all of your belongings with you. So, storing all their worldly goods is of utmost importance, and if landlords are being understanding and accommodating, it can only result in mutual benefit. Going out of your way, clearing a shed or a garage if there isn't ample room, or simply giving them access to a basement or an attic will draw the tenants in.

On the other hand, you can suggest a safe storage facility near your rental property. Storage units are perfect for renters, since they don’t have to unpack and move everything multiple times. And if your tenants need help getting their items to a unit in the Bay Area, a local moving team can help out and take care of the transport.
 

Open plan everything

You know what they say - an open plan (especially the kitchen) is heaven for entertaining. And, due to our 2-year tango with the pandemic, home entertainment has become the best source of socialization. Yes, we are in recovery, so to speak, but people have a deeper understanding of how important your home is for staying socially active. That's precisely why an open floor plan changes the game for most tenants who are, in return, willing to spend a little more than originally planned.
 

The little things

●     Laundromat days are over; tenants nowadays prefer having a washer/drier in the rental unit.

●     Central air conditioning - well, this one's a given.

●     Stainless Steel appliances - if that's not within your budget, opt for stainless look siblings; cheaper yet pleasant on the eye.
 

Outdoor space

You can't put a price on throwing a barbeque party in your backyard. Patios, backyards, or gardens - tenants crave freedom and the ability to host anything from brunches to bachelorette parties. As the pandemic left a mark on all of us, being okay with feeling confined is no longer a trend.
 

Last but not least

Location. Of course, you can't change the location of your property, but if you're thinking about purchasing a buy-to-let, you understand its importance - the better the location, the higher the rent prices.

Ultimately, if you're a rental property owner, understanding the tools a property management company can provide you with is more than advisable. It can maximize the profit while alleviating the stress of managing the rental property.
 

Final words

We hope you find our list of features in a home renters pay more for helpful. Now, it's time to roll up your sleeves and see what you can do about your property

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