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What Do Tenants Want?

When we meet with prospective property owners, we often hear from the owners about how their property is likely to rent faster.  As an investment owner myself, I like to think about the positives my properties offer as well and how that will turn into fewer vacancies.  So, from our experience, let’s look at what tenants really care about.

First, tenants care about how the property “looks”.  Very similar to buyers looking for a property, tenants care about the first impression too.  Renters are looking at the general impression of the property as soon as they drive up.  They want to know if the property has been maintained or is run down.  At the end of the day, they want to be proud to call it home.

Second, tenants care about the common areas.  This is particularly important for townhomes, condominiums, or apartments.  Tenants look at common areas as a barometer for the rest of the neighborhood.  These common areas may include stairwells, pools, hallways, and parks.  They care about the shared elements of the neighborhood.

Third, tenants care about security and parking.  All tenants want to feel secure in the property they are renting.  If they are in a condominium or townhome, they want the building to feel secure.  Tenants do not want to be looking over their shoulders when they come home.  Further, they want to be able to park their vehicles in a safe area.  Tenants look at the size of the garage, off-street parking, and how well lit these areas are.

Lastly, tenants care about amenities.  They want to know about what features are included in their neighborhood.  They also want to know about the walk index (how easily they can walk to neighboring businesses).

At the end of the day, tenants stack up all of the above criteria to find the home that best suits them.  The great thing about all of this, all tenants are different so while curb appeal may be the most important to one, amenities may be more important to another.  For more information about what tenants like, feel free to contact Real Property Management of the Rockies. We are the local experts when it comes to Fort Collins, Loveland, Windsor, Timnath, and the surrounding Larimer and Weld Counties.

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