Top Rental Features to Attract Cream of the Crop Tenantsby Jatin Sharma Writer
A great tenant is someone who pays their rent on time, respects the property, and has a long-term lease. Attracting and keeping top-quality tenants is the key to your successful ownership. Since most landlords know which qualities make a perfect tenant, the landscape can be quite competitive when it comes to finding these tenants. If you own a quality property in a perfect location, such as residential projects in Goa, then you must reap the success of your investment by attracting and retaining high-quality tenants. These types of tenants can provide an excellent return on a residential real estate investment by ensuring regular cash flow benefits and rental certainty.
If you are looking for a way to advance your chances of finding a great tenant, take a look at these characteristics that you should consider while buying an investment property that can help your rental set itself apart from the rest.
Location – Access to Transport & Basics
As with any business, location can make a big difference to your revenue. Great tenants look for a property that has access to means of transportation, close to employment as well as groceries, restaurants, quality medical care, quality entertainment, schools, colleges, and community parks.
It’s all about the quality of living. An excellent tenant is often willing to pay more or overlook the less desirable aspects of the rental unit if the property is in a good location.
Safety & Security
A safe and secure environment is a powerful motivating factor for good tenants. For example, if the tenant is concerned that his or her car or house will be burgled, it may be difficult for him or her to sleep well. Adding an alarm service, videophone, and other security features is a cost effective way of reassuring tenants in any location.
Understandably, tenants will also want good parking facilities. If your property offers indoor parking or even offsite parking, it will be an enormous plus point for potential tenants.
Move-In Ready Condition
If a property needs painting, carpeting, or cleaning it could put a potentially great tenant out of business. Before showing the property, ensure all necessary repairs are completed. The first impression a tenant gets of the property is probably going to linger in their minds and you would quickly lose their interest.
Age of Property
It is worth reiterating the tenants want to avoid the hassles of tedious repairs. Often this means they will seek new properties with newer plumbing, electrical, and HVAC systems that are less likely to deteriorate and require repairs.
If you already have an older property, it doesn’t mean that you are unlucky. By maintaining your property properly, doing needed repairs, and keeping it clean, you can always attract great tenants.
The quality of one’s neighbourhood determines one’s quality of life. Who wouldn’t want to live in a place with calm, positive vibrations close to nature that eventually promises to be a stress breaker, something we all envy today? Whether it is “facing” of your home or the conveniences of your neighbourhood, they play an important role in your decision to live there. Maybe that’s why a lot of home buyers prefer seaside homes in Goa.
There is going to be a difference in the lifestyle of your tenant with the place having a beautiful view and with other comforts like running trails, swimming pool, tennis court, & a gym, etc. A community doesn’t have to have all those amenities, but more is always better. You can check plots for sale in Goa and get some amazing deals.
A tenant would not want to have to purchase large, expensive appliances that could break in transit or that might not need a future rental. GNU appliances are particularly appealing to tenants as they are less likely to fail or break at an awkward time. Strategic improvements such as stainless steel appliances and hardwood floors may help attract higher quality tenants. Renovations or fully equipped kitchen and bathroom are especially attractive to tenants.
With the tips mentioned above, you can make your property stand out from the rest, attract good tenants, and get better returns on investment. The success or failure of your property investment depends on your ability to attract and retain excellent tenants on an on-going basis.
Created on Nov 22nd 2020 23:52. Viewed 84 times.