Tenants have always looked for well-maintained properties in desirable location.
Those requirements have not changed.
However, there are certain amenities and features that are now on the list of tenant demands that may surprise you. While you likely did not think about LED bulbs before, today’s tenants want energy-efficiency in the homes they choose to rent. While smart home technology might have once seemed like a luxury, it’s quickly becoming a necessity – even in rental properties.
You need to be creative with your amenities if you want to attract high-quality tenants in San Mateo. The good news is that these amenities also mean that your rental value is increasing.
Let’s take a look at what today’s tenants are looking for in San Mateo rental homes, and how you can best position yourself to meet those needs.
Green Amenities: Eco-Friendly Rental Homes are in High Demand
There’s been a lot of attention on environmental sustainability lately, and that’s like due to the dramatic weather we’ve had as well as the rising prices for everything, including energy. If you want to appeal to tenants in San Mateo, you’ll be willing to provide some amenities that prioritize energy-efficiency and sustainability. Some of the most creative and cost-effective amenities you might provide include:
- LED light bulbs. These will keep your tenant’s electricity bills lower, conserve energy, and prevent you or your tenants from having to invest in new light bulbs anytime soon.
- Energy-efficient appliances. If it’s time to replace your dishwasher, refrigerator, or other appliance, make a choice that makes sense for the environment. Tenants will be attracted to appliances with an Energy-Star rating. They’ll use less water, heat, and other resources, keep utility bills lower, and likely operate in a way that’s less noisy and intrusive.
- Low-flow plumbing fixtures. Shower heads, toilets, and even irrigation systems you might be employing for your landscaping can use fewer resources and reduce water bills. Tenants will appreciate the attention to their costs and the ongoing concerns over drought and water supply. If you really want to invest in an environmentally friendly amenity, tankless water heaters are a great benefit to properties and tenants. This will require a larger initial investment, but you may find it’s worth the expense over time.
- Updated insulation. Check your windows and doors and make sure that warm air isn’t escaping in the winters and cool air isn’t escaping in the summers. This will provide a more pleasant indoor environment for your residents, and it will also make your HVAC system more efficient.
When you market your property as friendly to the environment and leaning towards sustainable features and amenities, you’ll find it gets the attention of good tenants.
Smart Home Tech
Offering smart technology amenities can significantly enhance the appeal of your properties.
Integrating smart home features and amenities not only provides you with potentially higher rent, but also can lead to increased tenant satisfaction and retention. Here are smart technology enhancements that are not only practical but can also provide a good return on investment:
- Smart Thermostats
A smart thermostat provides tenants with enhanced climate control, energy efficiency, and the convenience of adjusting settings remotely. Tenants appreciate the ability to fine-tune their living environment while landlords benefit from potential energy savings during vacancies.
- Smart Locks
Keyless entry systems provide a level of convenience and security that traditional locks cannot match. There’s no panic over tenants losing their keys. And, with smart locks, you can easily manage access for maintenance without the need to change the locks with every tenant turnover.
- Smart Lighting
Smart lighting systems are not just about turning lights on and off remotely. They enable tenants to create customizable lighting scenarios, potentially lower electricity bills, and provide an added layer of security with intuitive scheduling features that mimic occupancy.
- Video Doorbells
Smart security cameras are also becoming more common, but you want to avoid concerns around tenant privacy. Instead, offer video doorbells. This allows tenants to see who is at the door before they answer it. Such technology also makes it easier for them to track package drop-offs and deliveries.
- High-Speed Internet Access
In today’s world, high-speed internet is less of a luxury and more of a necessity. Providing tenants with pre-installed Wi-Fi as an amenity can be a significant selling point, particularly for those working from home or streaming media. This is something to consider when you want to stand out to great tenants; one less service that they need to schedule can be a big deal to tenants while they’re juggling all the requirements of moving.
Smart home amenities are perceived by many tenants as premium upgrades. They can justify a higher rent and attract tenants willing to pay for convenience and modernity.
These smart home features can also provide analytics that help owners and property managers track and optimize property utilities, leading to better management and cost savings.
Pets Are More Than Amenities: They’re Family
Pet-friendly amenities are always going to get the attention of a large tenant pool.
If you’re not allowing pets in your San Mateo rental property, it’s time to consider it. Otherwise, you’re looking at longer vacancy periods and potentially less income.
Some of the best amenities that pet owners look for when they’re searching for the right home for themselves and their furry family members are:
- Fenced yards, especially in single-family homes.
- Cat doors or doggie doors for those indoor/outdoor pets.
- Pet waste stations outside, with bags provided.
- Outdoor play areas, dog parks, or wash stations.
Be reasonable with your pet fees and pet rent, too. While it’s normal to ask for a pet fee and even an extra payment every month to cover pet rent, you don’t want to make it too cost prohibitive for your good tenants who have pets.
In-Unit Laundry and San Mateo Rental Homes
Most well-qualified tenants want to do their laundry in the privacy of their own home. They may need to wash something quickly and immediately or they may be night owls who prefer to get their housework done late. Good tenants do not want to drag their dirty clothes and linens to a Laundromat. Those same good tenants do not want to wait for the communal washers and dryers to be free in their multi-family building.
Offering your residents a washer and dryer inside of their rental home will make your property a lot more attractive to tenants than those homes that do not provide laundry facilities. It also allows you to increase your rental value. This is an amenity that tenants are willing to pay for.
This requires a bit of an investment, but not a huge one. You can install an energy-efficient, space saving model such as a stackable washer and dryer combo, which is great for apartment units or smaller spaces.
Always mention the washer and dryer in your listing and marketing materials. It’s an amenity that will get the attention of good tenants and inspire them to see your property.
Outdoor Space: Landscaping and Curb Appeal
Tenants in San Mateo are increasingly looking for outdoor space. Even if you have only a courtyard or a patio to offer them, make sure you leverage what you do have and make it look attractive. This will make a difference to residents who want to work and live outside as much as they work and live inside.
Simple, attractive landscaping also leads to better curb appeal, and that curb appeal is extremely important when you’re marketing your property to tenants. The outside of your rental home must be clean and welcoming.
Contract with a local landscaping company to keep everything looking great and to ensure that your tenants don’t have the burden of maintaining the outdoor space. They’d usually rather just enjoy it. If you’re renting out a home with a yard, provide landscaping services and roll that cost into the rental amount. Landscaping is something that your San Mateo investment property will need year-round. When you provide the service, you’ll increase your rental value, ensure tenant satisfaction, and protect the condition and value of your asset.
Parking Spaces and Privileges
Parking is not an amenity for every rental home.
Perhaps you’re renting out a single-family home with an attached garage, and the parking is a no-brainer. If you’re renting out a unit in a multi-family property, however, or even a duplex where it’s not clearly defined who should be parking where, you might have tenants who are confused and uncertain.
Always provide a dedicated parking space when you can. This might be in a garage or under a carport or even in a well-marked space right outside the home.
Work with what you’ve got, but make sure your tenants know where to park and that the space you’ve designated is theirs alone. This will relieve a lot of anxiety around parking, especially if you’re in a neighborhood with a lot of traffic, and street parking is at a premium.
These are some of the amenities that we’ve found are especially important to well-qualified tenants who are looking for their next rental home in San Mateo. If you’d like some personalized suggestions based on your property and what it offers, contact us at Sharevest Property Management. We’d love to tell you more.
