Over the past few years, rental units have stepped up their game. Resort-style apartment complexes suddenly started to rise in highly desired areas, and they introduced new amenities not offered by your typical rental property. While these luxury resort-style properties are incredibly overpriced, renters are still checking them out and, in many cases, signing a lease, even if it’s for a year.
The traditional landlord might not be able to provide a resort-like experience to their tenants; however, they can make reasonable and thoughtful improvements to their property to make their rental more marketable.
Add Upgrades to Your Rental Property
You can add upgrades to your property to make it stand out and attract highly sought-after tenants. Consider these property upgrades as possible investments in your unit:
- Modern appliances
- Outdoor entertainment space
- Enhanced security features
1) Modern Appliances
Tenants love walking into a unit with modern appliances. Whether it’s stainless steel kitchen appliances, an in-unit laundry, or even a dishwasher, these items add value to your property and create interest from potential renters.
Modern appliances do not have to be brand new. They just need to be operational and in good condition. In fact, there are many ways one can secure modern appliances without breaking the bank. Consider visiting your local Facebook Marketplace or apps like OfferUp to find gently used but great options for your property.
Kitchen
The kitchen is the heart of the home, so making sure that it is functional and aesthetically pleasing is an easy way to keep tenants happy. One way to do so is by investing in stainless steel kitchen appliances. Stainless steel appliances gained popularity in the 2000s and have proven to pair well with different décor styles. This finish is also stain-resistant and prevents corrosion and any build-up of bacteria.
Laundry
Louisiana weather might not always be for the faint of heart—with high temperatures, humidity, and heavy rain for a good portion of the year. The weather may make usual tasks feel daunting and difficult to accomplish. Including in-unit laundry is a perk many tenants seek and are grateful for. It provides convenience, privacy, and ease of use.
2) Outdoor Space
Outdoor perks can be expensive, but they may be an excellent investment in your property. Roof-top terraces, porches, and backyard spaces make it feel like the rental is more than just what is inside the unit.
Here are some examples of outdoor space upgrades:
- Pergola covered patio
- Large front porch
- Designated firepit areas
- Space designated for BBQ and outdoor eating
3) Enhanced Security Features
This one is a perk your tenant will appreciate when done correctly. Security features help keep not only your tenant safe but also keep your property safe. Landlords should consider adding smart locks to the front door, smart-home features like a video doorbell, and an alarm system to which your tenant can pay a subscription.
These amenities provide value to tenants and landlords alike. They help prevent crime and keep the property safe. Although landlords do not have access to footage while in an active lease, they can provide their tenants peace of mind if they create an account and connect the technology to their app. As an added benefit, when the property is vacant, the landlord can connect any smart security features to their accounts and monitor their property until a new tenant moves in.
Are You Looking for Help Managing Your Rental? Contact Kajen Rentals Today
Kajen Rentals has helped many local property owners manage their rental properties. If you have any questions about managing your rental property in Monroe, West Monroe, Bastrop, and Oak Grove, contact us today.