Factors That Make a Home More Desirable on the Rental Market
Whether you’re looking to rent out your home or you’re entering the real estate market as an investor, it makes sense to understand what renters are looking for and what makes them willing to pay more for what you have to offer as a landlord.
We’re going to take a closer look at some of those factors that arelly make a difference to renters and to the value of any rental home you might own, either now or in the future. So read on now and find out all about that and more.
Appliances Included
When someone moves into a new place that they’re renting, they want to be sure that they’re going to be able to move right in and start living life with ease. That’s why most renters want to rent a home that comes with all of the most important appliances included, especially when it comes to things such as the kitchen appliances that people tend to use every day of the week. So try to include these in the deal if you can.
A Good Neighborhood
Of course, everyone wants to live in a place that’s known for being a nice neighborhood with friendly people and all of the most important amenities. If you’re renting out a home that you already own, you obviously can’t do much about this. But if you’re looking to invest in real estate, you should keep the quality of the neighborhood and its general reputation in mind when you choose which home to buy and rent out. It’s one of the things that people find most important.
Space for Off-Road Parking
The chances are the people you end up renting out your home to are drivers who have one or maybe more than one car to park. And they’ll want to do so safely and securely. Sure, off-road parking is fine, but people are often looking for more than that. That means they’ll be willing to pay more for a home that comes with guaranteed and secure off-road parking in the form of a garage or something similar. So you might want to put that in place if it’s not there already.
Nearby Schools
They might also be looking for a home that has plenty of good options in terms of schools nearby. Of course, this depends on who your target renter is and whether they’re likely to have a young family to consider as they choose a new home to rent. If you are renting out a home that you think would appeal to a family, you can definitely think about researching local schools as they might be a selling point when you’re trying to find a renter.
New and Good-Quality Furniture
The kind of furniture that the property comes with will make a difference. Many renters aren’t looking to bring in their own furniture items so they want to see that the home they choose to rent comes with those items already in place. They might include a new sofa with reclining sofas, a good dining table and a set of chairs, and whatever furniture is needed in the bedrooms. If the furniture is relatively new and is of a good quality, it’ll make a big difference in the minds of renters.
Plenty of Space for Cooking and Dining
You’ll definitely want to make sure that there’s enough space for both cooking and dining as this is something that prospective renters will look at and consider carefully. These days, most people prefer an open plan space that incorporates both a kitchen and a functional dining space as well. So you might want to make some changes to these spaces in your home if yours doesn’t currently offer that.
A Renovated Bathroom
A renovated bathroom could really change things in terms of how people look at your rental home and perceive it. An old and outdated bathroom is a real drawback for many renters. But one that’s recently renovated and looks brand new can be a genuine selling point. So that’s something that you might want to do something about if your bathroom is currently past its best.
As you can see, there are lots of things to consider, especially if you’re looking to rent out a home you own or if you’re looking to invest in real estate in the near future. You want to make sure you do what you can to maximize your returns, and some of the information above might help you do that.
You May Also Enjoy
Bank of England Money and Credit – December 2024
Housing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024
Westminster council must outline how their proposals on property boards will not hinder market
National Federation of Builders View on Chancellor’s Speech
Landlords and Tenants: A Balanced Relationship in the Private Rental Sector (PRS)
