What To Look For In A Rental Property

Rental Property

If you’re a tenant looking for your next rental home, it’s a good idea to already have in mind what your own standards are so you can narrow down your search.  If you’re a real estate agent, you also need to be aware of your tenants’ needs and preferences.

Here’s an idea of what other tenants usually look for in a rental property:

  1. Environment

Location is oftentimes what most people will consider first.  Generally, people will ask questions like is it a safe and quiet neighbourhood?  Is it close to their workplace and schools for their children?  Usually, for young professionals, proximity to the workplace and some nightlife will be more appealing.  For families, on the other hand, their decision will likely be influenced by a child-friendly neighbourhood, nearby schools and parks or libraries.

  1. Fair Price

Tenants also look at properties within their budget and they will be more interested in getting value for their money.  Not everyone can get a house at exactly the price they want, but the important thing is to strike a balance between their dream home and what they can afford.

  1. Attractiveness

Rental Property

When potential tenants view a property for the first time, their impression of the property will greatly affect whether they’ll include it in their list of options or not.  Is the entire place clean and spotless?  Does the place look well-maintained with no visible damage?  Does it smell fresh, with no unpleasant odours especially if it has a carpet?  Is it newly painted?  Does the yard look attractive?  All of these will contribute to a property that charms buyers.

  1. Facilities

Tenants will also try to anticipate what their daily life in their potential home would be like.  The home therefore needs to meet the basic needs of their household.  Is the kitchen and bathroom modern?  Are the appliances all in working order?  Will the landlord allow pets?  Is there enough space for their family? Does the property include space for parking?

  1. Tenancy Duration

Most everyone wants to eventually buy their own home, which is why majority of tenants choose short-term contracts, from a year to a year and a half.  If they are still pleased with the property by the end of their tenancy, that’s when they opt to extend their contracts.

Renters and real estate agents can make better property choices if they take note of these features.  A rental home that satisfies most of these considerations will draw more buyers and tenants.

Image by James Thompson on Flickr