10 Things Tenants Look for In a Rental Property (2022)

The Best Rental Features to Attract Quality Tenants Are...?

In 2022, what conveniences & amenities are tenants looking for? Well, we specialize in single-family homes here at Robert C. White & Company, but do handle every type of rental property. When it comes down to it, we’ve got a good idea of what renters are looking AND asking for. From feedback we'eve collected at showings, to tenants surveyed after their lease ends, here are 10 things we know most modern renters are looking for in a rental property!

1. Good Location
Location, location…right? Most tenants want to be in the heart of the action, especially young professionals! Living in a well connected and accessible city or town makes life more convenient and allows them to feel like a part of the community, even if they don’t have permanent roots. While you can’t change the location of a rental property you already own, your next (or first) investment property might best be found in a neighborhood with good walkability and amenities close by. The nearer to grocery stores, bookshops, restaurants, etc.,  the more competition there will be for your properties and the higher rents you’ll be able to bring in!

2. A Safe & Secure Unit
Having a safe and secure place to live is also vitally important to tenants. Location of course plays a factor here, but there are other steps landlords and property managers can take to make their units feel more secure for tenants. Adding floodlights and other outdoor lighting to parking and walkway areas, installing security cameras around entrances, and changing locks or entry codes frequently are just a few of the things landlords can and should do. If a tenant feels safe and secure where they live, they’ll not only be willing to pay more but are likely to stay longer.

3. Online Rent Pay Option
This is a modern convenience that most tenants are after! You can pay for pretty much anything you want online these days, and tenants feel rent is no different. Asking people to write checks and place them in the mail is outdated and less efficient for all parties, and there are plenty of online tools available for landlords to collect rent away from the traditional “check-in-mail” method.

4. Expected Move-In Condition

Don’t make promises you aren’t going to keep. A property's move-in condition is important to every tenant, no matter how much they pay in rent. You must be transparent regarding people’s expectations for your rental property. If you aren’t going to paint before someone moves it, let them know up front. And of course, this works the other way as well. If you do tell your soon to be tenants that you’ll fix their extra toilet before they move in, get it done. Meeting expectations is the easy way to satisfy your tenants.

5. Updated Appliances

Kitchen appliances make a big difference for many groups these days. Our agents have shown properties with an old (but functional!) stove from the 80s and then had the prospective tenant ask them…”is that thing still working?” and “ is the owner going to get a new one of those?” Upgrading the stove, dishwasher, and fridge may be just the facelift a rental property needs to close tenants quickly and take in a bit more in revenue.

6. On-Site Washer & Dryer
Having a washer & dryer on-site at a rental property is much more common now.  Being able to do laundry at your home is a major convenience, one that can easily bring in $50+/month more in rent revenue. For many, especially families of renters, this can be a complete deal-breaker for them. If you don’t have on-site laundry now, consider adding it ASAP.

7. Designated Pet Area

According to the ASPCA, over 60% of renters have a pet of some sort! With such a high percentage of the tenant pool owning pets, landlords would be a bit foolish to refuse them altogether. Instead, by creating designated pet areas outside their rental properties, owners can cater to and screen for good pet owners. Accepting and having a useful outdoor space for pets is a great way to increase your tenant pool and maybe charge more in rent!

8. Parking Options
The American Census data from 2013/14 shows that over 85% of American workers commuted to their job that year. Even if this data isn’t perfectly accurate for every town and city, we assume that with the pandemic, workers commute 20% less, which still leaves more than half the workforce using a car daily to get to the office! Having parking options is important and can always bring landlords a premium.

9. Extra Storage Space
Whether they’re renting a one-bedroom apartment in a big building or an entire single-family home, renters appreciate extra storage space. Most tenants have more things than will fit in a typical rental property, so having a storage shed, designated basement space or attic can be a major draw for those folks. If you already have storage space in your rental property but haven’t highlighted it before, add it to your marketing next time for a boost.

10. Open-Plan Living
A subjective taste, of course, but open floor plan living is becoming more and more popular. Renters that have open and connected spaces can be flexible with their furniture, layout, and functionality. Remember too that people are more likely to work from home these days, so having a dynamic and multi-use open space for an office and other tasks is ideal.