For some tenants, simply finding temporary (or even longer-term) housing at a reasonable monthly rent rate is the goal – and, as long as the space and other amenities are suitable, all will work out fine. But in some cases, tenants may want more – in terms of space and amenities – and they are more than willing to pay a higher price for it. So what are some of the things that tenants may look for, over and above just the number of bedrooms and baths?
One item is the location and the quality of the neighborhood. In fact typically, the quality of the neighborhood will oftentimes determine the quality of the lifestyle of its residents. Here, then, it is important that the property have great curb appeal, and that it be in close proximity to items and areas of interest, such as parks, walking trails, and good quality retail and eating establishments.
You will also want to ensure that the appliances in the home are in tip top condition, and that your property provides numerous upgrades and conveniences. For instance, rather than just simply being “good enough,” you may want to consider installing stainless steel items in both the kitchen and the laundry area.
In taking it even a step further, by offering granite counter tops in the kitchen, and closet organizers in all of the bedrooms, you are likely to find that your ideal tenants don’t mind paying a bit more – and that they will likely take better care of the home, too.
Depending on your investment goals and your budget, you may find that going the route of higher end tenants is a great strategy for running your rental property business. In any case, though, being a landlord can be extremely time consuming. With that in mind, it could be beneficial to work in conjunction with a professional property management team.
If you own rental real estate in Orlando and / or in the surrounding Central Florida area, and you would like to have more information on just how an experienced property manager could benefit you, then give Incentive Properties a call today.