Want to Attract High-Quality Tenants? Design the Rental Property to Attract Them

Owning and managing rental properties can be tough. You want to find the right tenants to make sure you have a reliable stream of passive income and tenants that will take good care of your investment.

But if you want the right tenants, you need to advertise a property they want to rent. There’s a lot of competition—especially for good tenants—so presenting the most attractive and functional rental can attract foot traffic.

How? Make smart home renovations that appeal to what renters are looking for and give you return on your investment.

Amenities That Attract Modern Renters

Don’t go wild knocking down walls and ripping out cabinets just yet. It’s not just about renovating but focusing on the right features—the features that modern renters are watching for. Some of the most popular amenities include:

• Inviting interiors: All renters want to feel comfortable and welcome in their rental space, even if it’s not permanent. This means durable, high-quality flooring and unique design touches that they can make their own.
• Practical design concepts: Along with a clean aesthetic, renters are seeking a functional space that makes the most of the square footage. Focus on a practical layout that balances form and function while also providing convenience, such as energy-efficient appliances.
• Community features: If you have a multi-unit rental property that accommodates multiple tenants, prospective renters may expect shared amenities like a pool, outdoor entertainment areas, or a fitness center.

Renovation Ideas for Modern Renters

There are many renovations you can use to attract modern, discerning tenants, even if you’re on a tight budget:

Modern Kitchen

The kitchen is one of the most important—and most valuable—rooms on your property. The form and function of the kitchen can make or break the rental decision. Fortunately, upgrading your kitchen generally offers excellent return on investment.

If you want to do a total overhaul, changing out countertops, adding a kitchen island, or upgrading appliances to modern and energy-efficient versions can have a dramatic effect on your property. If you’re focused on smaller changes, a fresh coat of paint, new hardware, and refinished cabinets can still offer a great facelift.

Functional Bathrooms

Second to the kitchen, bathrooms are one of the most important rooms. They’re frequently used, so you want them to be functional, clean, and up to date. Smaller renovations, such as updating fixtures to modern, water-conserving ones can make a huge difference in the space and the utility bills.

You also want your bathrooms to have a luxurious, spa-like feel. Changes like upgraded lighting, a refinished bath or shower, and plenty of storage space to eliminate clutter turn a standard bathroom into a relaxing oasis.

Quality Flooring

Flooring is a smart home renovation choice. It’s one of the first things your prospective renter will see and it takes a lot of wear and tear from foot traffic. It’s more than just a surface—it can affect the tenant’s overall living experience and directly impact their day-to-day satisfaction.

Many renters are looking for hard flooring that’s easy to keep clean. While hardwood isn’t always in the budget, laminate can be a more affordable option that’s versatile. Vinyl is another option that’s low maintenance and water resistant, perfect for families.

Generally, carpeting is considered outdated. Area rugs over hard flooring is a good middle ground. However, if ripping up carpets and installing hard flooring isn’t in your budget, using a durable, high-quality carpet that’s easy to clean and can take a beating is a great choice for rental property. You will need to disinfect carpets between tenants, so the upgrade is just as much for you as prospective renters.

Ample Storage

Storage space is one of the most important factors in a practical living space, especially if you have a smaller property. You want to add storage space without disrupting the overall flow and making the space feel even smaller.

Built-in closets can add a lot of space to the transitional areas like hallways, but you could also add them to bedrooms and bathrooms to maximize storage options. This keeps the home looking clean and organized without sacrificing flow.

Not all storage options require renovations, though. Concealed storage units or hidden storage compartments in ottomans, couches, and benches offer ample space for less-used items. You should also add shelves, hooks, and organizers to closets, cabinets, and drawers for more functional storage solutions.

Neutral Palettes

Neutral color palettes are timeless and versatile, giving tenants a clean slate to turn a rental into their home. White, cream, ivory, gray, and beige are ideal color schemes that allow your tenants to personalize the space to their liking. They can add bold window treatments, throw pillows and blankets, intricate area rugs, and statement art without it clashing with the walls and flooring.

It’s also important for tenants to be able to picture themselves in the space. Bolder color schemes reflect your taste, while furniture, cabinetry, and window dressing in neutral colors can look attractive while still being warm and inviting.

Curb Appeal

First impressions can make or break your rental property. Make sure the exterior of your property looks clean, safe, and appealing. Maintain the lawn, shrubs, and front entry. Simple landscaping elements like manicured shrubs, potted plants, and flower beds look like care went into the property.

You also want to be sure everything is clean and maintained. Take care of any clutter that accumulated outside and fix any damage to walkways or front porches. If the outside looks poorly maintained, it won’t matter how much effort you put into updating the inside.

Create an Irresistible Rental Property

Rental markets are extremely competitive, so you have to find ways to stand out. Smart, high-impact renovations can make a huge difference in how often your rental property is viewed and visited, allowing you to attract the renters you really want and secure reliable passive income. 

Author Information

Author Name: Michael Alladawi

Author Bio:

Michael Alladawi, CEO & Founder of Revive Real Estate, is a Southern California real estate veteran with a proven track record as a builder, investor, and respected home flipper. Michael created Revive Real Estate to share his industry knowledge and help homeowners maximize their profits when selling their homes. Michael’s passion for his work is as big as his desire to create lasting partnerships. For Michael, it all comes down to how much value one offers, both in business and life relationships.  

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