5 features which will make your rental property more desirable
While location, and access to amenities lifestyle choices, and work, and proximity to main roads and public transport is often the starting point for many people when looking for a rental property, what features do they consider?
If you want to make sure your property is that little bit more desirable than a similar one down the road, here are five features which will elevate your property from a good rental property to a desirable one.
- Well-presented
Would you like to live in a property which is dirty and in need of basic maintenance? No, you wouldn’t – and neither your tenant. Quite possibly the number one feature of a great rental property, regardless of location, is something that is presented well, is neat and tidy and in a condition you would be happy to live.
Quality properties can be any age and don’t necessarily need to have the latest décor (although a new coat of paint will freshen a tired property), but they need to be well-presented. We’ve found well-presented properties attract quality tenants, who then go on to look after your asset like it is their own.
It’s worth noting too, the property condition can impact your back pocket in terms of both rental yield and the value of your investment; tenants aren’t prepared to pay top dollar for a badly-maintained property and a property in need of major repairs and maintenance is worth less than a similar property in good condition.
- Security and safety
Everyone wants to be secure and feel safe in their own home. Consider installing security features such as deadlocks, window locks and alarm systems. If the property is in a strata community, security cameras, secure entrances, and well-lit common areas all add to tenant safety.
From your point of view, the level of security can also make an impact on the cost of your insurance.
- Good storage options
Tenants often don’t have a lot of furniture, so built in wardrobes, bay window storage boxes and other storage options can give your property the edge over other similar properties.
- Energy efficiency and running costs
With utility bills on the rise, and many people concerned about their carbon footprint, tenants are increasingly looking for low running costs in a property. Take a look at our blog outlining three key areas to consider installing energy-saving features which will add value and make your property that bit more desirable.
- Air conditioning
We love our Newcastle’s scorching summers, but without air-conditioning, life can be very uncomfortable.
While not essential, a reverse cycle air-conditioning unit mounted in the living area can make a huge difference to comfort levels in extreme heat.
Other considerations
Tenants also look for properties that include appliances such as a washing machine and a parking space.
By understanding what tenants look for in a rental property, landlords can attract high-quality tenants and create positive and long-lasting rental experiences.
Want to know what other features make a good investment property? Get in touch to find out more!
With nearly 50 years of business behind us, we know what works and what doesn’t, and our knowledgeable and experienced team are always coming up with new ideas to help you get the best from your property.
We are family run, and one of Newcastle’s longest established property management offices – call us on 02 4956 9777, send an email to mail@newcastlepropertymanagement.com.au or visit us in person at our Cardiff office.
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