Are you looking to increase the value of your rental home?
If you’re lucky enough, having property to rent can be a vital source of income. However, with so much competition on the market, it can be hard to stand out and get the value your rental home deserves.
Check out our guide on what apartment amenities to include that will improve your curb appeal and boost the value of your rental home.
Pet-Welcoming Amenities
Whether they’re faithful companions or service animals, people want to keep their pets. Asking an animal lover to get rid of their animals just to move would be like asking them to chop off a limb or get rid of a child.
Apart from service animals, it’s up to the landlord whether they allow pets or not. If you do allow pets, you’ll be gaining major bonus points with potential renters. Most renters with pets look after and train them well. So, while you may have heard horror stories, the chances of a pet destroying your home are actually very small.
There is a range of pet-welcoming amenities you can put in place. When deciding, think of what will be the most cost-effective and bring the most ROI.
For example, a perk for dog owners would be including a dog park in the back garden for their furry friend to play on. For cat owners, consider cat-proof shelves in the living room for their cats to scratch and climb. If you have a room/space too small to do anything, turn it into a built-in pet bedroom.
Whatever you settle on, the pet owner (and their pets) will love this special pet amenities.
Smart Home Features
Smart homes are going to be the future, so jumping in now is a great way to jump ahead of the competition. Updating current units, or setting new ones up, is actually more affordable than you think.
Take the smart thermostat. It’s simple to install and will bring big savings for your tenants on their energy bills. It also allows them the freedom of remote-control access to their AC and heating systems.
There are also smart light switches and locks that are easy to install. They’re good for the environment too and give that unique, high-end apartment feel. Your residents will love this futuristic, gadgets.
Parking
With most US households owning at least 1 car, providing parking will be a huge boost in value to your apartment. It’s desirable to have a safe place to park their car, that’s designated for their use only.
Off-street parking will be favorable to potential renters. It helps keep their cars safe from the hazards of parking on the road. It’ll be even better if it’s covered and you offer a space or two for guests.
The most appeal though would come from a garage or underground car park. As with smart tech, we’re seeing a shift towards being more sustainable with our cars too. An electric charging point would go the extra mile.
Rooftop Deck
This one is pretty limited to what space you have available, but you can apply it to balconies too. One of the biggest drawbacks of an apartment is the lack of outside space.
Providing a well-finished balcony or rooftop deck gives a high-end, luxury feel. It also allows people to enjoy the outdoors even without a garden.
You’ll also add in the view it provides and the added entertainment square footage for guests. It’ll be a place tenants want to show off, take care of, and enjoy.
If you’ve got the space, the rooftop could house a pool or hot tub. It could also have a seating area and outside bar. Be creative and let your wild side show through. Your tenants will pay extra for any space that lets them enjoy the sun and a great view of their city.
Technology
Today, tenants expect access to the internet and cable TV. At the least, you should make sure to wire your apartment for these. Your tenant can open the account to start the service, but you must have the hardware in place first.
With a shift towards more people working from home, there is a bigger need for technology.
Wiring up for high-speed internet is great, but including the internet/TV package in the rent is a huge draw as it’s there for when the tenant moves in. Removing the stress and hassle of setting up their internet is something people will pay for.
Include smart controls and charging ports for Android and Apple devices. People want easy-to-use, high-tech gadgets that are ready to use when they move in.
Fitness Amenities
As with a rise in technology and sustainability, healthy living is on the up as well. People are taking more care of their personal fitness. To do this, prospective tenants will be looking for comprehensive fitness facilities.
If you’ve got the space, put together a home gym with all the mod-cons. People love to work out, but they’ll love it more if they can do it from home.
If you have space, dedicate a gym for all your apartments. You can host fitness and yoga classes or other unique fitness opportunities. You can be creative while increasing the attractiveness and value of your property.
Security
People want to feel safe in their homes, it’s a top priority for most potential renters. Apartments and buildings that are serious about security command a higher rent value.
Install features like card entry systems and security cameras. Also, consider double or triple lock doors and an on-site security team.
All these features go a long way to keeping people safe and deterring crime. So, when you’re looking to add value to your apartment, consider boosting security.
Apartment Amenities That Are Sure to Boost Value
There you have it. Don’t miss out on these apartment amenities that are sure to boost the value of your property.
To keep ahead of the competition, follow the latest trends. Things like smart-tech and sustainable living. Provide what other landlords aren’t and carve a niche for yourself. Most of all, make moving into your home easy, convenient, and hassle-free. This is what tenants will pay extra for.
If you are looking to save time, money, and stress, then contact Genuine Property Management today. We are the only property manager in Orange County that has a money back guarantee, so you can be sure we always have your best interest in mind.