Tenants have access to a lot of information today, thanks to technology and the transparency of the Parrish real estate market. When they’re looking for their next rental home, they know how much they’ll be expected to pay, they’ll know what competing properties are offering, and they’ll understand the value of updates, improvements, and comforts.
While rental property owners and Parrish property managers spend a lot of time screening tenants, you need to understand that tenants have their own screening system. When they’re well-qualified and responsible, they have options when it comes to choosing a home.
Every resident is a little different. However, our experience in the rental market has shown us that these three things in particular are non-negotiable when it comes to choosing a rental property.
1. Parrish Rental Property Location
Location is always an important factor in real estate, and your tenants want to live in a desirable neighborhood. Tenants with children will want a good school district. Active tenants will want a walkable neighborhood or proximity to recreation and entertainment. Nearly everyone will want to live close to shops, restaurants, and conveniences like grocery stores, gas stations, and other retailers. In Parrish, they’ll likely want easy access to Interstate 75, U.S. 41, as well as beaches, hiking trails, and art galleries. A remote property will be vacant longer and probably won’t earn as much.
Before you invest in a Parrish rental property or establish a rental value for the home you already own, make sure you’re evaluating the location. Is this a neighborhood that tenants will want to live in? Think about whether there’s an HOA as well. Most tenants are happy to live in an HOA, but others will find the rules and requirements cumbersome.
2. Enviable Price and Value for the Market
Tenants want to live in a home they can afford, and they’re going to understand the market and what the most competitive prices are. They will not mind paying more for extras, but they’re always going to choose properties that offer value.
Potential renters know what homes like yours are renting for. When you’re establishing a rental value for your property, make sure you’re using data on comparable properties in the immediate area. An overpriced home will only be overlooked by tenants. They want to feel like they’re getting a good deal. If you offer lawn service or you include a utility such as water or internet, you’ll have an easier time attracting good tenants who are looking for perks. They’ll want to move in with their pets, so consider providing a pet-friendly property.
3. Updates and Upgrades Matter to Tenants
Tenants will also be looking for well-maintained properties that are attractive and welcoming. Check your curb appeal. Make sure the grass is mowed and the trees are trimmed. Take a look at your light fixtures and your hardware to make sure everything looks new and up to date. If your appliances are looking worn and dated, replace them with energy efficient models.
If your property is in good condition, you don’t have to do a complete remodel. Simply make a few cost-effective improvements, and you’ll attract better tenants and higher rent values. Many renters today are impressed by upgraded technology. Smart thermostats and video doorbells will be especially attractive to new tenants.
One thing we have noticed is that tenants always appreciate moving into a professionally managed rental home. They know that good professional Parrish property managers understand their needs and provide high standards of service. We can help you attract the best tenants with the best rental property. Contact us at Anchor Down Property Management.