Are you thinking about renting out your house? This is an excellent time to do it, with demand for high-quality rental homes quite high and the inventory fairly low. Rents are also higher than they’ve ever been, giving you an opportunity to earn some healthy rental income every month.
You need to know a few things about the Bradenton rental market before you list your home, however. Not every property is going to make an ideal rental home. Tenants have specific needs and desires. They take the time to do their research when they’re looking for their next rental property.
We’d love to help you decide whether or not to rent out your home. For starters, here are five indicators your house is right for the Bradenton rental market.
1. The Location is Ideal for Bradenton Tenants
Location is an important consideration in any real estate discussion. Like homes for sale, homes for rent have to be located in desirable areas. Tenants are looking for good neighborhoods. They want to live close to school and work, and they want entertainment, shopping, and recreation to be easily accessible.
Your Bradenton property needs three things in order to be in a good location for a rental home:
- Access to the things people need.
- Good schools
- Low crime
Every tenant will have their own preferences; some will want to be in a walkable neighborhood and others will want a neighborhood with plenty of street parking for their guests. Some will want to be close to major roads and others will want a quieter neighborhood that’s out of the way. In general, a home will rent easier when that property is located near:
- Public transportation
- Grocery stores and retailers
- Beach and water
Typically, tenants will not be thrilled about a rental property location that’s close to an airport, a fire station, or a hospital. These facilities tend to generate noise. Busy intersections might also cause traffic issues for renters who are trying to get the kids to school in the mornings or coming home from work in the evenings.
If your Bradenton house is in a good location, meaning it’s a desirable neighborhood that’s close to everything but not hampered by noise and crowds, it’s probably going to do well on the rental market. Take some time to consider how traffic moves and whether parking is an issue. These details will tell you how easy or challenging it will be to rent the place to tenants.
2. Landscaping is Attractive but also Low-Maintenance
How does the yard look at your house? Is it green, attractive, and easy to maintain? If so, your Bradenton home may make a great rental property for tenants who value outdoor space but don’t want to spend a lot of time maintaining it.
Rental property landscaping should provide curb appeal. This will ensure your rental value is high. But, it should also be simple enough that it doesn’t cost you a lot to maintain. Your tenants are likely looking for landscaping that’s both attractive and functional.
Your house will do well on the rental market if you provide tenant-friendly landscaping. Renters with children or pets will really appreciate a fenced backyard. Healthy grass will always look better than dead grass or overgrown weeds.
Before you list your property, decide how lawn care and landscaping will be managed. Will you hire a service to mow the lawn every week, or will you expect your tenants to take care of it? We recommend hiring a service so you’re sure that the lawn and outdoor space looks good. This will also ensure you’re compliant with HOA regulations if your property happens to be in an association. You can include the cost of that service in your rental amount. That way, tenants don’t have to do much to maintain the lawn unless they take an interest in planting flowers or gardening.
3. Your Bradenton Home has Adequate Space and a Floor Plan that Makes Sense
Generally, a three-bedroom, two-bathroom home is the easiest to rent out in Bradenton. This is what tenants are looking for when they decide to rent a single-family home. Your two-bedroom house might also make a great rental, and if you have four bedrooms, you’ll find tenants looking for that much space as well.
Anything too large or too small might be difficult to rent out to long term tenants. A sprawling estate with seven bedrooms and just as many bathrooms might make a great short term vacation rental. It gives large groups traveling together an ideal space to stay when they’re on vacation. But, for a long term rental property, it won’t be easy to find tenants who are looking for all that space. Tenants who want a one-bedroom property are more likely to live in a condo or an apartment. If that’s what you’re renting out, great! Small spaces will work just fine.
Having more than one bathroom also makes your Bradenton house a desirable rental. Tenants prefer not to share their own bathrooms with their guests if they don’t have to. When the number of bathrooms corresponds with the number of bedrooms, you’re offering an ideal rental situation for roommates. Each resident gets their own bathroom. That works well and makes it easy to rent.
Consider your home’s floor plan as well. Today, open floor plans are popular. Instead of having walls that divide the kitchen from the dining room from the living room, tenants are looking for a gentle and natural flow from one space to another. Flex spaces such as offices, dens, and recreation rooms are also popular and attractive to tenants when they’re renting a home.
4. Features and Functions Have been Recently Upgraded
Well-maintained homes always rent easily in Bradenton, but you’ll want to think bigger than basic maintenance. Has your home been recently upgraded, or is it in need of major updates and improvements? Renovations can be expensive, especially in the current market, with prices increasing on just about everything. If your house would need a lot of work in order to list it on the rental market and find a tenant, you might want to re-think your plans.
But, if you have made some recent renovations and you know it’s looking modern and attractive, you’re in a great position to rent the place out to tenants. Some of the upgrades and updates especially popular with Bradenton tenants include:
- Updated appliances. Stainless steel in the kitchen is always attractive to tenants. But, you don’t necessarily have to install those expensive refrigerators and dishwashers. More important is that the appliances match. Tenants are also looking for energy-efficient appliances. Make sure there’s a washing machine and a dryer in your home. Tenants don’t want to go to the Laundromat when they rent a house.
- Hard surface flooring. Do you have carpeting throughout your home? It won’t be as easy to rent out as a home with wood, tile, or even laminate flooring in the common areas. The living room looks better with hard surface floors. It’s easier to clean and maintain. It’s also healthier. Carpet fibers can trap dust, allergens, dirt, and pet odors. That’s a problem for a lot of tenants, especially those with asthma or allergies or sensitivities.
- Intuitive light. Tenants are looking for bright kitchens and bathrooms. Otherwise, they want lighting that’s soft and fluorescent. Exterior lighting should promote security.
Outside of those updates, if your home has bright and clean fixtures like shiny faucets and modern drawer pulls and hardware, you’ll be ready to rent it out.
5. Your Bradenton Property is Pet-Friendly
Can you handle having pets at your home? If you already have pets, you’re likely willing to rent out a house that welcomes dogs and cats. This is a big deal on the rental market right now. More than half of the potential tenants in Bradenton have at least one pet. They won’t bother looking at properties that don’t allow them to move with their furry friends.
A pet-friendly property does more than allow pets. You’ll want to welcome them. A nice yard with adequate green space for dogs is an attractive amenity. If your neighborhood has sidewalks and parks where dogs can be walked, that’s also a draw. Make sure you’re not emotionally attached to the things inside your home that a cat may scratch.
When you’re willing to allow pets, you’re in a stronger rental position. So, while deciding whether your house will make a good rental property, think about your comfort level with pets. And remember – service and support animals are not considered pets. You have to allow them, even if you don’t allow pets. Those animals are considered accommodations, and the tenants are protected in having them.
Now that you’ve considered these factors, are you ready to rent out your Bradenton house? We’d be happy to help you. Contact us at Anchor Down Property Management. We help owners like you lease, manage, and maintain their rental properties with outstanding results.