The world has changed rapidly over the past few years. And, so have the demands and preferences of apartment renters in the world’s most densely populated cities. Thus, in order to be a truly successful landlord/property owner, operator, or manager, you need to provide your tenants with all that they want.
So, do you want to attract some high-class residents and increase your revenue, as well as improve the renewal rates? Then set your goal of catering to the preferences of renters. Wondering how can you do that? Leave it on us to guide you!
What are Renters Actually Looking For?
Tricky question, isn’t it? Well, we have all the answers you’d want to hear.
Firstly, owing to the fact that we're living in a highly computerized world, renters, nowadays, are on a lookout for a high-tech apartment, that is up to the standards of what they call a "smart home".
Hence, in order to create a perfect smart living for your precious customers, you’d need to deliver them with all the smart home products. Plus, to make your apartment better than all those available out there, provide the renters with some of the latest technological devices in their new home. For instance, a doorbell camera that works wonders in terms of security.
Such are the items that should be on the top of your list if you wish to attract quality residents. Also, if you make them sign the lease without even stopping to think twice!
However, don’t leave yet, we’ve still got so much more to tell you about the amenities that renters will pay a premium for. To make your property business flourish like none else in the town, just read on, and don’t forget following all the instructions that are below-stated!
- Laundry Service Inside the Apartment
It’s the 21st century, and you might be aware of the fact that millennials prefer doing much of their work while living in their homes.
Therefore, an in-home laundry service is what everyone wants. So, make sure you don’t miss out on a proper laundry room within the apartment. You’d be surprised at the extent to with a laundry service can bring an increase in your revenue.
- The Facility of Online Rent Payment
Have you ever noticed how much easier it is to shop online? Transfer money through online bank accounts? And make your payments just with a click? Then you must know how drastically you can bring a positive change in your renter’s lives just by providing them with an online rent payment facility.
- Video Surveillance for Better Security
The world's top most populated cities are the major ones that face high-security issues. Which is why improved security being among the top ten facilities that you should be providing your renter with. And when it comes to security, what can be better than a video surveillance camera?
- On-Site Child Care
Providing a child care center on-site can totally change your revenue game, as most parents nowadays opt for child care centers while they're busy with their routine jobs.
On-Site child care can make it easy for your tenants to pick and drop their children. As well as that, they'd be more satisfied leaving their children at a place that's near their home.
- Computerized Maintenance Request System
Residents can often get quite irritated and annoyed when their maintenance complaints are not resolved immediately. This usually happens when the complaints don’t reach the landlords.
Thus, an automated maintenance request system can be one of those things that attract a big number of quality residents.
- Swimming Pool
On-site swimming pools! What can be better than that? A pool is what surely attracts residents because no one can say no to daily morning swims that are just a couple of steps away. So, with this one as a new addition, we ensure you that your renewal rates would go up-scale more than you imagine.
- Smart Home Features and Appliances
When it comes to renting rates, a vast majority of residents agree on paying higher rent if they are provided with smart home technology. According to recent research, more than half percent of residents in the U.S is willing to increase their rent payment if they get to live in a high-tech apartment.
Smart home appliances from Google Home are much more acknowledged by the residents as compared to others available in the market.
- Fitness Centre or Gym
Every other person around us faces the issue of a sedentary lifestyle. Solve their problem by providing them with a fitness center that’s near them.
This one can make the residents pay extra charges. Wondering how? Simply, because they’d be super-excited to start a life in their new homes that can prove good for their health.
- Highly Secure Access
As a landlord, it's your responsibility that your tenants feel safe inside their new home. To make this happen, ensure that all the doors and windows have properly working locks. Also, provide good common room lighting and make sure the apartment has proper fences and gate.
Apart from this, uniformed security officer and access control barriers are what residents look for when it comes to secure access to the property. Automatic gates can also be a great addition.
- A Basic and Reasonable Technology Package
How can we miss a technology package in the list of amenities? This one includes facilities like high-speed internet and cable tv. After all, the internet to millennials is like water to fish!
Therefore, make sure that as a property owner you’re providing your residents with a highly secure and technology-enabled environment to live in. Because, as we all know, technology has elevated the lifestyle of homeowners by making it easier for them to perform routine tasks.
So, welcome the technological transition that’s taking place around you and invest in creating smart homes for your residents.
Other than this, traditional features such as covered parking or pool can always be counted as great plus points to your property.