What do tenants want?
This has to be a question that you’re asking when you invest in a Summerville rental property. If your investment isn’t attractive to good tenants, you’re going to lose money on vacancy and turnover. Think like a tenant when you’re choosing what to buy and where.
Once you have a great property, follow that up with an outstanding rental experience for your residents.
With all of our years of experience in Summerville property management, we can tell you that most tenants are looking for five specific things when they rent a home.
1. Summerville Tenants Want Value
Rental price is always going to be a factor as tenants look for their next home. Thanks to the internet and the dozens of rental sites that are used, tenants understand the local rental values. They know what they’re willing to pay, and they aren’t going to bother with a home that’s over-priced. Make sure you offer value. Tenants prefer homes that have all the appliances included. They’ll be more likely to rent homes where water and trash services are included or professional landscaping costs are rolled into the rent.
2. Tenants Want a Desirable Location
Summerville has a variety of single-family homes and multi-family units available to tenants. Everyone has different priorities when they’re moving, but there are a few location-specific things that most renters look for every time they’re choosing a new home. Tenants are looking for a rental property that’s close to work, grocery stores, restaurants, entertainment, parks, and commuter routes.
Quality of life is important to tenants, and good residents are often willing to pay more or overlook less desirable aspects of the rental unit if the property is in a great neighborhood. School districts are also important to residents with children.
3. Tenants Seek Safety and Security Features
Safety is always going to be on the minds of prospective tenants. Security systems, upgraded doors and windows with extra locks, and smart home technology can really help tenants feel secure in their homes. These are modern features that many prospective renters will expect, especially younger millennial tenants.
4. Tenants Prioritize Well-Maintained Homes that are Move-In Ready
Properties that aren’t move-in ready and require painting, carpeting, or cleaning will be a problem. Your tenants are looking for homes that are clean, functional, and ready to inhabit. Before showing the property, make sure that all the necessary repairs have been made. The first impression that a tenant gets from the property will be what drives their decision to fill out an application or not.
Additionally, if the property condition is poor when tenants move in, they will believe you don’t care about the property yourself. This sets the expectation that they can treat the property without care. You don’t want to give the wrong impression. A rental home that’s in move-in ready condition sets the expectation that the tenant will maintain high standards of cleanliness and maintenance.
5. Professional Summerville Property Management
Tenants appreciate and prefer professional property management because they know it will create a more consistent, less chaotic rental experience. The move-in process will be organized and they’ll know exactly what to do and who to call if there’s an emergency maintenance issue or a problem with rent. They’ll need to know their landlord or property manager is responsive, available, and accessible. Good tenants will look for things like clear expectations, a transparent and detailed lease agreement, and conveniences such as online rental payments.
We can help you meet these and other tenant needs. When you’re looking for a Summerville property management partner, please contact us at ROG Coastal Property Management.