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Just like renters have their wishlist of the perfect rental, real estate investors also have to keep their wishlist handy to stay two steps ahead of the needs of the renting community.
Often, rental amenities are the deciding factors for a potential candidate to sign a lease, so they are important for real estate investors to consider when purchasing a property.
As a successful real estate investor, when searching for the perfect investment property you want to be sure it is a valuable investment. If your property offers more amenities, you are already on your way to beating out the competition.
Why Do Amenities Matter?
Amenities are the desirable features of a rental that provide comfort, convenience, and enjoyment. This includes features such as pools, workout facilities, and internet.
While these amenities aren’t required for daily living purposes, they can sway a tenant’s decision to sign a lease.
As a landlord, it can be challenging when deciding what amenities you should advertise for your rental listing. Decide on what kind of tenant you want for this property to help you decide the best amenities to advertise.
For example, if you are looking for eco-friendly tenants, you would advertise the property’s electric car chargers, energy-efficient appliances, walkability, and recycling programs.
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As a rental investor, don’t be discouraged if you can’t fulfill every amenity on your property wishlist. Some amenities could easily be implemented or renovated.
Which Amenities Should I Highlight?
TurboTenant recently conducted a study by pulling the most popular amenities featured in rental listings over the last two years for each region in the country. Overall, range ovens, dishwashers, and washers are the most common rental amenities, regardless of your location.
To see the most popular amenities in your region and how to use amenities to appeal to different types of renters, check out the infographic below.
From the Coach’s Corner, here are more relevant real estate strategies:
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.
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.
Tips for Success in Marketing Real Estate to Millennial Buyers — Whether you’re an ad agency, real estate professional or private home seller, you might want to consider the latest trends in marketing property.
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.
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.
“Now, one thing I tell everyone is learn about real estate. Repeat after me: real estate provides the highest returns, the greatest values and the least risk.”
-Armstrong Williams
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