Top 6 Amenities Renters Can't Resist in Maryland
To be a successful landlord, you must first understand your tenants' wants. This will not only help you secure the best tenants quickly, but it will also help you retain your current tenants. And, as with any service, if you offer more and provide more value, you can charge more.
In this article, McKenna & Vane Property Management focuses on the top amenities every landlord should consider for their rental property!
Renters prefer anything that uses technology to make their lives easier. Property owners and renters alike can benefit from improvements such as using a tenant portal. Offering a resident portal on your website with app features is a major plus. It makes it simple to pay rent and utilities and submit maintenance requests.
Additionally, physical keys may become obsolete in the near future. Keyless entry solutions are popular because no one enjoys being locked out, and everyone has felt the frustration of forgetting or misplacing their key. Having to replace the key and locks can also be a headache on the part of the landlord.
Installing a video intercom at the front entrance of your apartment building and smart locks on each unit door will allow you to achieve keyless entry. Residents can unlock doors using their smartphones or unique PIN codes. As a result, residents never need a physical key to access the building or their apartment.
Ample Parking for Residents and Visitors
Renters don't want to spend 30 minutes looking for parking after work or when their loved ones come over for a visit, so be sure to advertise that you have plenty of parking if that’s an option.
Assigned parking and garage parking are especially popular in urban areas where space is premium. Roofed parking is typically in high demand as it protects the vehicle from the elements.
In the scenario where your tenants don’t have vehicles, you can lease out the parking space to your neighbors (or their tenants) at a fee, or even your other tenants if they wish to have an extra vehicle. It’s a tried and tested way of earning more rent!
Renters prefer upgraded kitchens because they are more visually appealing and functional. They're also a nice bonus for renters who like to cook. Because granite countertops and stainless steel appliances are long-lasting and easy to clean, they will help keep your property low-maintenance because you won't have to replace or repair them regularly.
Granite countertops and stainless steel house appliances are also excellent investments because they are luxury features that allow you to raise the rent accordingly.
Potential renters will also be impressed if your rental property has built-in storage space, such as large kitchen cabinets and pantries. Consider a possible renovation of the kitchen so you can secure a long-term client for your Maryland rental property!
Nobody wants to walk around the corner or get in the car and drive to a laundromat once a week to do their laundry. For renters, having an in-unit washer/dryer is a huge plus. You can also have a laundry room in the building and charge for use of the machines as extra income. While not as convenient as one in the unit, it is still a highly desirable amenity for renters.
From our experience in the Maryland property industry, we know of many potential tenants who would never consider renting a place without a washer and dryer. Upgrading your Maryland rental property this way can greatly benefit you.
Security is essential for any resident but, unfortunately, security features in apartments are frequently lacking. Including extra security features is an excellent way to attract new tenants, especially those with families. You are also more likely to retain tenants when they feel secure in your building.
Community-wide features, such as ample security cameras and outdoor lighting, can help tenants feel more at ease and potentially reduce break-ins and other incidents.
Flexible Pet Polices
Many tenants have pets and, because their furry friends are treated like family, they will look for pet-friendly rentals when deciding on their next home. With many units not permitting pets, accepting pets can help rent your unit fast. Allowing pets in your rental property is risky, but there are some advantages beyond expanding your pool of potential tenants.
Pet owners are more likely to be long-term tenants due to the hassle of having the relocate a pet from a familiar environment. They also tend to be more responsible tenants.
You can charge a pet deposit to cater for the potential damages, and pet rent can be an additional source of income every month. However, if you want to minimize the risk of damages, remember to have a pet screening process in place and a clear pet policy!
From the information above, you can see that there’s a lot you can do you attract tenants to your rental property! If you want to ensure that your property is performing to the best of its ability, it’s recommended that you put your trust in the premier service providers specializing in Montgomery, Frederick, and Howard Counties.
McKenna & Vane Property Management is dedicated to providing top-level services in all aspects of managing your real estate investment. We offer unrivaled support and guidance to property owners. We can make your unit outperform its competitors, reduce vacancies, and increase tenant retention rates! Contact us today to learn more.