As a single-family Magnolia rental property owner, you may be interested in finding out what your renters need. It follows that once you zero in on these renters’ needs, you can make your property attractive to these higher-paying renters. Addressing every specific need of every renter demographic may be daunting but we can start with the basic needs of every tenant for a rental home. The list below contains the criteria most needed by tenants. Make sure that your Magnolia rental property has these.
One of the strongest selling points to renters is the right location. This may mean proximity to parks, public transit, and shopping centers for single-family rental homes. In addition to that, a safe and attractive neighborhood.
It is very important that tenants feel absolutely secure in their rental homes. It may be true that the safety of your property depends on its location but there are things you can do to improve your property’s security features. Good quality exterior doors, sturdy locks, and an alarm system can immensely help your tenants feel secure.
3. Convenient Payment Options
Along with safety, tenants also want to pay their rent easily and conveniently each month. Landlords who accept secure online payment are preferred by renters. This method is a win-win. Tenants can easily pay you and you get your rent in full on time.
4. Move-in Ready Condition
It is a good idea for property owners to show their property to renters only after cleaning and repairs are made. This is because renters usually want a rental home that is move-in ready. So it is important to finish property maintenance and repairs before renters take a look. This will then increase the likelihood of a new tenant renting your property.
If your Magnolia rental home doesn’t already include appliances, make sure to buy right away. Appliances are a big draw for many renters since many do not want to go through the trouble of buying them themselves. All the same with old appliances – tenants do not want to endure a troublesome stove or dishwasher. Invest in mid-range or reliable appliances and improve the value of your rental house and attract tenants.
Your rental house should be updated to keep it in step with the times. While you should regularly update countertops, appliances, faucets, and light fixtures, modern renters are also interested in newer, tech-friendly upgrades. Smart thermostats, video doorbells, and plenty of USB outlets are popular features many renters are looking for.
7. Outdoor Space
Modern renters want the kind of life that has space for gatherings. But if your Magnolia rental has limited inside space you can create an outdoor gathering space that will still attract your renters. You can accomplish this by adding a patio or deck which guarantees to attract great renters.
8. Flexible Lease Options
Most of the time, the plans of tenants may change. Property owners almost always want long-term leases but this may turn off great renters. Instead, offer them several options of lease lengths. You will reach more tenants this way and ones that won’t break the lease after a few months.
9. A Responsive Landlord
In the end, what gets the multiple star ratings from renters in a rental property is a responsive, professional landlord. Successful rental property management is built on the landlord-tenant relationship, making it all the more important to ensure that you communicate regularly and often with your tenant and respond promptly to repair requests.
But property management could take a toll on your sanity. Have too much on your plate? Why not consider entrusting your Magnolia property management to the experts at Real Property Management Republic? We can help you maximize the appeal of your rental property while also managing tenant relations so you can keep your sanity intact. Contact us online or give us a call at 281-362-5001.
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