What tenants find attractive in a rental property
Chances are you didn’t buy a rental property just for the fun of it—you want to make a profit. That means getting the right tenants who are willing to pay the best possible rent.
That’s why it’s good to know the things potential tenants notice when they visit your rental property. It means, you can buy strategically and, if you are already a residential landlord, you can present your rental property in a way that maximises your income possibilities.
Chase Property Management Ltd are expert rental property managers dedicated to servicing the residential property management needs throughout Auckland’s North Shore, Hibiscus Coast and Central Auckland; here are the seven of the top features we hear potential renters are looking for when they view your property.
1] Location.
It’s true what they say, the three most important things about any property are, “location, location, location.” Tenants looking for an Auckland rental will invariably do so with location in mind.
That means, when buying a rental you’re usually better off to buy a smaller place in a good location than a mansion in the middle of nowhere. People want a good area that is close to their work, transportation, shopping, and their leisure activities.
2] A view.
Aucklanders love a view. Being rental property management experts on the North Shore, Hibiscus Coast and Central Auckland mean we have a lot of residential properties for rent; and the ones with the best views always command a higher rent than those with little or no view.
3] Off-street parking.
Obviously, a garage is best, but even a carport or driveway area will add appeal to your rental property.
This is especially important for rental properties in Central Auckland where safe affordable street parking can be difficult to find. In fact, if you’re a landlord trying to find tenants for a Central Auckland property that doesn’t have good parking, we recommend you try and find a place nearby (perhaps a neighbour’s unused garage) that you can rent for your tenants to park in—you’ll almost certainly recoup the car park rental money on the rent you receive for your property.
4] Outdoor space and natural light indoors.
Whether it’s for a BBQ or just to sit in the sunshine reading, we like to be outside; and the more private the better. Renting out a property in Auckland is a lot easier if there is an outside area or deck that can be utilised for entertainment or relaxation.
And we like to have light indoors too. A tenant will notice immediately how sunny and light a property is, so remember to open all the curtains when you’re showing your place off.
5] Space.
Storage space, laundry space, room space… people don’t like to be cramped. If your rental property has a feeling of spaciousness it will have greater appeal to a tenant.
It pays to give this some thought when buying a rental or when renovating an existing rental. Knocking down a wall to give a feeling of spaciousness, and installing cupboards in bedrooms and hallway areas can add significantly to your rental income and the potential to gain good tenants.
6] Something new.
Whether it’s new piece of whiteware, or a larger renovation, tenants love the feeling of having something new to move into.
Speaking of renovations, there are two areas in particular that, if renovated, will invariably increase your rental income—the kitchen and the bathroom. If you own a rental property in Central Auckland, North Shore or Hibiscus Coast, give us a call; we’ll give the property a once-over before you advertise. If we think it would benefit from some renovations, we can organise it for you. The cost will usually be quickly recouped by the extra rent you are able to demand.
7] A heat pump.
Believe it or not, something as inexpensive as a heat pump is a real plus when renting out a property. All of us have to give some thought to how we will heat our homes in the winter—yes, even rental properties on the sunny Hibiscus Coast (where Chase Property Management have a number of clients) need some heating in those cooler months.
Potential tenants will notice a heat pump immediately and see it as a real positive that will be reflected in the rent they are prepared to pay.
8] Cleanliness.
A proper clean makes all the difference, you would be amazed at how many times, we have heard prospective tenants say “this place needs a professional clean”, sometimes even after thorough cleaning!
So take intertenancy of your rental property seriously if you want better returns, and experience the positive response from prospective tenants.
So, that’s it. Eight of the things potential tenants look for when they view your rental property. If you’re still wondering what you can do to maximise the rent you receive on your residential property, contact Sam and Stacy at Chase Property Management. We’re rental property management experts, servicing the North Shore, Hibiscus Coast and Central Auckland.
Phone Stacey on: 09 213 7445 or email: stacey.mooney@mylandlord.co.nz
Phone Sam on: 09 213 7444 or email: sam.coutts@mylandlord.co.nz
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