Are you planning to construct a residential building as an investment? If you want renters to swarm your property as soon as it’s ready for occupancy, you should know these four important features most renters look for in an apartment.
Location translates to convenience. Is the apartment near grocery stores, restaurants, laundry and public transportation? A potential renter finds a flat convenient if it has access to these basic living facilities. Proximity to parks for recreation is also a big plus.
In relation, location also dictates overall safety and security. Is the neighbourhood generally quiet and decent? Will the outdoor and hallway traffic be strong enough to penetrate the confines of the rooms? Privacy is also a touchy topic for renters so it’s better to install high gates and enough walls around the property.
Most renters drive a car to and from the office or uni so off-the-street parking is a must. If you can offer ample lighting and reliable water and electricity supply, your renters will most likely stay, too. Because most people rely on social media for a significant part of their life, you should also consider high-speed Internet as a basic amenity in your residential building.
Space can be a matter of personal preference, but you should provide enough storage room in the kitchen. Built-in cupboards mean organisation and today’s yuppies will say yes to anything organised and clean. If you can, allow renters to take their beloved pets with them. You can set rules to keep everyone sane and in peace; thus, appeasing most if not all of your tenants.
You can offer the most conveniently-located and affordable 3-bedroom apartments for sale or rent, but if you’re a cranky landlord, you can say goodbye to most of your potential tenants. Responsive management is the key to keeping a tenant, after all. You should provide contact details should anyone raise an inquiry or complaint, and then deal with the issue as soon as you can to prevent small problems from ballooning into major losses.
Most renters of any age or social background will consider these factors when looking for a place to live in. If you can provide their basic requirements, you can keep good tenants and thus grow your real estate investment.