10 Things Modern Renters are Looking For in Their Next Home
When you want to keep your rental properties occupied, it’s important to offer prospective tenants the amenities they want. Find out what modern renters in Tucson are looking for in 2019 with these must-have’s for renters. That way you’ll know which upgrades—if any—you’ll want to make to your rental property. Here are 10 things modern renters are looking for in their next home:
In-Unit Washer and Dryer
People love convenience. Something that’s decidedly inconvenient is searching for quarters, gathering laundry, and trudging down to the laundromat. As a result, in-unit washers and dryers are high on the list of must-haves for the majority of renters when searching for a Tucson rental home. Even if it slightly increases the cost of rent, people seem to be happy to hand over the money so they can do laundry while watching Netflix in their PJs.
Dishwasher and Garbage Disposal
The kitchen is the heart of the home. Modern renters in Tucson don’t consider dishwashers and garbage disposals to be added amenities—they tend to assume that a rental property will already have them. If your rental property is lacking one or both of these modern-day appliances, this upgrade should be at the top of your to-do list. If making the change is too expensive to complete for all your rental units at once, try adding them to a few properties at a time.
The demographics of renters are changing. Nowadays millennials are the largest group
of renters in the country. In addition to being hesitant to purchase homes, this generation also isn’t jumping into parenthood the way previous generations have. Their caring and parental instincts are geared toward being a parent their pets. Rental properties that don’t allow animals are significantly less likely to be rented by this age group, as they’re already avid pet owners. This group of renters also especially favors special pet features such as nearby dog runs and walking paths.
Smart homes aren’t just for homeowners, they’re part of what renters want in 2019. This might sound like a pricy upgrade, but it doesn’t have to be. It’s easy enough to start small with the “smart” upgrades that matter most to renters. Think about small items renters can pair with their devices, such as smart light switches and dimmers, which can be operated from a cell phone. Smart doorbells allow tenants to see who is at their door, even when they’re away from home. Wireless entry systems can sense when you’re at the main door of the complex, instead of hassling with a key. By making one small “smart” upgrade per year, you’ll make your property more tech-savvy over time and more profitable overall.
Ask any Tucson property manager what renters want, and they’ll tell you central air conditioning is at the top of their list due to the summer heat. If you want to make your property extremely attractive to renters, you’ll want to upgrade your property to central air conditioning. Depending on the design of your rental property, this might require some retrofitting. Renters, however, are willing to pay much more for central air conditioning, which means you can expect to see a return on your investment quickly.
No one wants to feel unsafe in their home, which is why modern renters want properties that offer multiple security features. Gated access, security cameras, and well-lit parking lots are all amenities that will attract people to your Tucson rental home. While some security features can get costly, many are quite affordable. Cameras that monitor the public areas of your property, for example, cost as little as $500 and allow you to charge more in rent for all units on the property.
Modern renters want high-speed internet, as much of there is spent online and connected to the internet, which requires a high-speed connection. From working remotely to streaming music and video chatting with relatives (all at the same time), a poor internet connection can disrupt their lives. If your property has poor service, you’ll want to contact better providers to find out how to extend their service to your property.
If you have a multi-unit rental property, soundproofing is important to renters. In this case, it may not be something tenants pick up on when touring your property, but it could hurt when it comes to tenant retention—which affects all aspects of being a landlord. Soundproofing requires little more than quality insulation and is easy to update when flipping units for new renters.
Property management companies in Tucson play up the outdoor spaces offered by rental properties. Given the incredible weather most of the year, this is no surprise. Even if you can’t afford to add balconies to individual units, think about adding park benches, outdoor sofas, tables and chairs to help create communal spaces that are more functional and inviting.
Tucson is known as one of the most bike-friendly cities in the United States. Storing bikes inside units can definitely take up too much valuable space for renters, so having easy access to safe bike storage is important. Think of perhaps installing a bike shed or bike rack in a secure area, instead of a public place where bikes are much more easily stolen. Security is also at the top of the list when it comes to a tenant’s daily transportation.
If you need help finding and managing properties that are irresistible to renters, Bancroft & Associates is always here to help you. As one of Tucson’s most respected property management companies, we know what renters want. To learn more, call us at 520-881-2790 or visit our website.