Are you wondering how some Orlando properties are always at full capacity and rarely experience any vacancies?
Many landlords look for new ways to satisfy the needs and wants of their tenants to make them stay at the property longer. This way, their rental property can stay occupied longer.
A great way to attract and keep tenants longer is to offer amenities and features that will separate you from the rest of the rental properties on the market.
With our team’s combined experience of over 75 years in property management, we were able to come up with 7 amenities that will give you a competitive advantage over other rentals in Orlando, Florida.
1. Large storage spaces
A spacious walk-in closet or a large kitchen pantry will certainly draw the attention of prospective tenants. Storage spaces are a most sought after commodity, especially for renters.
Tenants are always looking for properties that offer additional storage spaces. Large closets add appeal to the unit. With additional storage space, your tenants will have a place to store their things and keep the unit clutter-free.
When renovating, consider an open floor plan. It goes without saying that it can help a smaller space appear larger. Try opening the kitchen to the living space. Doing so not only allows for more space but also for better accessibility.
2. Outdoor spaces and other amenities
If there is space outdoors, consider adding a garden with a sitting area. Other things that can be added are balconies, decks, patios, and enclosed yards. If your budget allows, try adding a gym with some sports equipment.
You can also bring the outdoors in. For limited spaces, add vertical gardens to add greenery to your property. It will spruce up the place making it lively.
Having greenery and other outdoor amenities in your rental property will add to its curb appeal, increasing your chances of attracting potential tenants and keeping them long-term.
3. Laundry facilities
Another amenity that tenants look for is an in-unit washer and dryer. Having to pack your laundry and bring it to the laundromat can be inconvenient especially if your tenants don’t have the luxury of time.
Having a washer and dryer aren’t extra amenities that you are required to offer. They will, nevertheless, make your rental more desirable than others that don’t include them.
4. Flexible pet policies
According to the National Pet Owners Survey, 65 percent of Americans own pets. Not allowing pets severely limits your property’s marketability. Additionally, it’s been found that most pet owners are generally more responsible and will rent for a longer amount of time.
Having a flexible pet policy will allow you to have a much larger tenant pool to choose from. As a result, your chances of selecting a good quality tenant increases because of this.
You can add size and breed restrictions, especially if the apartment is small. You can also charge additional deposits and fees for pets. Having a clear cut pet policy will help you manage your concerns about allowing pets and will make for happier tenants.
5. Central air conditioning/heating and other utilities
In areas with hotter climates, like Orlando, prospective tenants look for air-conditioned properties. While those in colder climates look to make sure that heating is available. These amenities vary where your rental is located.
Having these utilities is an absolute must-have for tenants. Experienced landlords know that there is an extra demand for rentals with air conditioning installed.
Basic utilities such as water, electricity, phone, and Internet connectivity should already be in place.
6. Modern or smart features
With all the technology available today, it’s no surprise that most tenants are looking for properties that are tech-savvy. Make your property up-to-date with the latest features such as USB charging outlets to internet HVAC systems to smart-locks. Ensure your place is connected with cell reception and wireless connectivity.
In a world where renters are becoming more tech-savvy, apartments have to be up-to-date with the latest features. This could extend from simple features like USB charging outlets to more complex amenities like internet-connected HVAC systems and locks. Also, with the growing need to be constantly online, renters are now looking for places that feature a strong cell reception and wireless/wired connectivity for all their smart devices.
You can even go beyond gadgets and a smart home. Today’s tenants want the convenience of having an online payment and maintenance request option.
7. Parking space
If your property offers parking, ensure to highlight it in your listings. Tenants in Orlando look for a safe and secure place to keep their vehicles, such as a garage or covered parking. You can even opt to charge a small extra for tenants who use the parking space.
As a landlord in Orlando, to find a quality tenant, you will need to provide the ideal living environment for your tenant. A high-quality renter is one who is willing to pay extra for the amenities that make living at your property convenient, thus, more enjoyable.
These upgrades will cost you money but will assure you that high-quality tenants who rent on time, cause no damage to your property, and rent long-term, will be staying at your property.