Investment properties can be a great way to earn passive income, especially with the current state of the housing market.
However, having the wrong amenities or not including what potential renters are looking for can be bad for business.
Likewise, knowing what features renters are looking for can boost the value of your property while also enticing more potential tenants.
A recent survey done by Apartment Guide found that over one-third of Americans aren’t satisfied with their apartment amenities. Knowing this can help you hone in on those things renters feel are lacking, and implement them at your property.
For example, knowing that Americans feel heating and air conditioning is the most important amenity will give you the push to include heating and air conditioning at your rental property if it’s not there already.
If it is, maybe including it in the month’s rent will attract even more renters.
Having the right amenities also boosts the value of your property and helps you earn more income from it.
The law of supply and demand is in the works here — as the number of people that want to live at your property increases, your supply decreases and thus becomes more valuable.
Look through this infographic to find out what amenities Americans wished they had, and what they’ll be looking for in their next rental.
From the Coach’s Corner, editor’s picks for relevant articles:
How to Make Rental Upgrades to Increase Passive Income — With today’s rental markets, it’s important to maintain and keep your property updates as a landlord. Making these necessary upgrades will help you attract potential tenants and keep you competitive in the market.
Best Practices for Landlords in Renting Property — In this often litigious and incompetence and dishonesty in our society, it’s increasingly difficult to manage a rental property and to avoid poor-quality tenants. Here are solutions.
10 Tax Deductions for Residential Property Landlords — As investments go, small residential property landlords enjoy the most tax benefits. In a down year, rental property tax deductions can make a big difference whether you enjoy profits or suffer losses.
9 Secrets for Success in Real Estate Investing — Whether you want to work with investor partners or go solo, real estate investing can be a profitable business. But success requires more than just the old expression: location…location…location.
5 Tips for Non Pros to Make Money in Real Estate — Are you looking for an additional source of income, for instance, to boost your retirement assets? Real estate is still a viable option for making money for non pros.
