The amenities a landlord can offer can make or break your rental business. Ensure you are keeping your properties rented with these three amenities
Tenant turnover can be a killer when owning rental property. Every time it happens, you have a vacancy, repair the unit, as well as find a new tenant. Keeping tenants for the long term is ideal. Providing comfortable and convenient amenities will be a value add to your property. Consider these in your current rentals or your future properties.
Moving is stressful! Tenants may have more items then they can store in your unit. Storage bins can be created and left for tenant access in an area such as the basement. The basement can be a common area and if utilized appropriately, beneficial for you and your tenants. Make sure you label bins and each bin comes with a lock. The lock will remove your tenants fear of having their items tampered with or stolen.
Depending on your area, know what your market has for laundry facilities. Is it common to have no washer/dryer, just hookups, washer/dryer in unit, or coin op laundry? Your market will best determine your best move so you can be prepared to have the standard or a value add when you prepare for turnover.
Off street parking is very nice to have in a rental. Finding parking in the winter can be difficult for tenants and also very frustrating. Keep in mind, how many vehicles can you have in driveway? This should be specified in your tenant at will agreement or lease.
Also consider how you plan on removing snow in the winter months. If you are distant from your property, speaking with a few local companies would be best so you are not scrambling during heavy snowfall.
Tenant retention is the goal for a property owner. Learning how to create value for your tenants will pay off long term. Establishing a relationship with them and understanding their needs will minimize hiccups and alleviate problems during their stay.