Top Rental Features to Attract Cream of the Crop Tenants
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.
Parking
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.
Neighbourhood
Quality
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.
Appliances
Included
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.
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