As a Utah landlord, you are probably constantly searching for ways to attract high quality renters with the least amount of vacancy possible. With that said, have you ever wondered why a tenant will choose to live at one property over another? To answer that question, you have to understand what is most important to a renter. Competitively priced properties will always be a leading factor, but superior amenities are also extremely important.
According to Buildium's 2023 Industry Report, almost a quarter of tenants that are considering moving are searching for a home with features they find more appealing than their current residence. As a result, identifying the amenities that are most important to residents will help your Utah rental property stay at the forefront of client demand.
While some property amenities cannot be changed, there are several others that can be worth the investment. We will analyze some of the most important ones to tenants and different steps you can take to stand out from the crowd.
People value a quiet environment and privacy more than ever. With many individuals still working from home, they want a place where they can focus without being distracted. As stated before, you have little control over the atmosphere of your neighborhood. With that said, you could consider implementing quiet hours if your property is a multi-unit complex. This can really help keep peace among residents, especially if each is on different schedules.
An Updated Kitchen
Updated kitchens are one of the most important factors in attracting quality tenants. Even those who rarely use the kitchen for cooking value the idea of a roomy space to entertain friends and family who come to visit. With inexpensive modifications, like a new sink/fixtures, modernized countertops, and refinished cabinets, you can really draw in prospective renters. If the appliances in your property are outdated, consider replacing them with a new, more energy-efficient version to attract tenants and increase the worth of your Utah rental home.
Most renters love the durability and warmth of hardwood floors, particularly if they have pets or allergies. While there are several variations of natural hardwood flooring that can be very expensive, there are also many different types of wood laminates that are more cost effective and have the same durability as pure hardwood. Another option is to install wood flooring in important spaces, such as a kitchen, bedroom, or entryway.
Tenants naturally look for features in Utah rental properties that increase their safety in the residences. One of the most sought-after amenities for renters is gated access. Since this is something that is most likely out of your control, there are several other inexpensive security features that you could add, such as an alarm system, motion sensors, automatic locking doors, and outdoor lighting.
It's not the industry standard to provide free Internet as an amenity; therefore, including this perk in the rental rate can help you stand out from the crowd. As a Utah rental property owner, including personal Internet access is a great way to attract quality tenants and retain the existing ones.
Option of Owning a Pet
Since almost 70% of Utah tenants have pets, allowing animals in rental properties has become extremely important. While this may seem risky, there are several things you can do to mitigate the risk of damage, including requiring pet rent or an additional deposit.
An excellent pet policy will help your Utah rental home stand out and usually contribute to leasing the property faster.
While spending money on distinctive features inside the home is necessary, potential tenants can be more interested in rental properties with functional outdoor areas. Renters value spaces where they can go for fresh air or enjoy the sunny weather, such as a patio, balcony, or fenced yard.
Utah rental properties with unique features like swimming pools, outdoor furniture, tennis courts, dog parks, or fire pits will also attract quality potential tenants. To make these spaces even more beautiful and increase your home's curb appeal, consider adding some flowers, shrubs, and other landscaping.
A Washer and Dryer
In-unit laundry is a huge benefit for tenants. While they are not required, including a washer and dryer will give your Utah rental property a unique edge. By offering these appliances, a renter has one less expense when they move in, which is typically a great selling point.
With our hot July summers, your Utah rental property will be more attractive to potential tenants if it has an air conditioner. This does not need to be an expensive endeavor and installing one or two window units can make a big difference in finding a quality renter to lease the property.
Outsource the management of your Utah rental property to a reputable company you can trust.
Hiring a Utah property management company like Wolfnest to handle your rental’s maintenance, leasing, and management can save you time and energy.
By working with Wolfnest Property Management, you can rest assured that you have the peace of mind that your investment is being cared for.
If you want to partner with a reputable Utah property management company you can trust, don’t hesitate to contact us immediately and discover why Wolfnest is the perfect choice for your needs.