Certain features top the list of renters looking for a new property to call home. Having a rental that matches their expectations and ticks all the right boxes, is bound to stand apart from other neighbouring properties on rent. Here are some of the features to get information on what renters are actively searching for:

Location

For a property, location is of utmost importance. You have just to be at the right location to avail the right to command higher prices for your rental, even without having to renovate or refurbish it. With the right location, people are willing to overlook concerns such as square footage and renovation. If they find a rental that is close to work or is desirable to them in any way, they even compromise on amenities offered by other properties. Think of a location that is in the heart of a huge city. Won’t people even be willing to pay extra to be able to close to entertainment, food, shopping districts, and public transportation, rather than live cheaply somewhere where they would incur large commute times and hassle?

The location should be kept foremost when you are:

Marketing your rental: In order to appeal to prospective tenants, you have to emphasize your location to augment the charms of your property.

Renovating your property: If the location of your rental is desirable, you might get away with fewer renovations or less exorbitance.

Buying property: When buying a new investment, location is the single thing that will continue to matter most. So better buy in a viable location now, so that if you do rent it down the road, you would get a higher ROI.

Renovations

Anything that has a new look to it catches the eyes of tenants. While tenants are aware of the fact that the property they are looking to rent, has been lived in before, they want to forget that someone else lived in the space before them. Think about the feeling you get when you buy something new, be it a new pair of sneakers or a new hairbrush, part of the charm is that it belongs to you, it’s clean and hygienic, and you are the first one to use it. Tenants feel the same way about the condos they rent, and this is renovations can help you sell your unit faster and at a better price, with a special focus on bathrooms and kitchen.

Open Floor Plan

An open floor plan is often in high demand for Toronto Condos For Sale. This is because it makes even a tiny condo look bigger than it is and gives off a pleasant feeling. Most people are of the opinion that an open floor condo allows for better entertainment and looks better when furnished.

Stainless Steel Appliances

Stainless steel appliances look sleek and chic and prospective tenants would kill to get their hands on them. Even if you cannot afford stainless steel, cheaper appliances that look the part can also suffice. Regardless of the finish of your installed appliances, another indispensable factor is to ensure that they look good together. Imagine this: a white dishwasher, an almond refrigerator, and a black stove, won’t complement each other very well. In addition, the draw of a dishwasher should never be ignored. It offers a hint of opulence and is absolutely necessary to most people.

Available Parking

Parking is one of the factors most car owners don’t compromise on when it comes to rentals. Even better, off-street parking is a plus. Being able to offer a spot in the garage or the driveway to your tenants will help your unit get rented at a desirable price. Parking is more readily available in suburban areas, so tenants should be happy even if they are getting access to on-street parking, as long as it is within close proximity of the property. However, when it comes to urban areas, parking is not so easily available. If your rental doesn’t include parking spots, why not make a deal with a neighbour with a free parking slot. In any case, you should at least be able to direct the tenant to the nearest spot or garage. Be prepared to see the tenant walk away if the parking spot is blocks away.

Laundry in Building/Unit

Who wants to haul their laundry to the laundromat? Apartments/condos really benefit from a washer/dryer, especially for apartments not on the first floor. Even if in-unit washers/dryers are not available, then look for one within premises that the tenant can use. Even if the tenant has to drag their loads down to the basement, it is still more feasible than having to walk all the way to the nearest Laundromat to wash their clothes.

Closet Space/ Storage Space

We all need ample closet space for our belongings, be it stowing away holiday decoration for the next season or our clothes. Even if your unit is not very space efficient, make sure that there is space enough to add another closet. If that cannot be provided as well, can you at least offer storage shed, a garage or a basement where the tenant can store their belongings?

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