One of the tricky things about preparing a rental property is that you are trying to anticipate the needs of people you have never met. This is not as difficult as you might think. Remodeling trends actually come about because people display strong preferences for certain amenities. It is not a science, but if you understand what the majority of renters want, you can get a good rate for your property. Here are some of the things most people look for when they want to rent a home.
- Natural light – no surprise here, plenty of people enjoy the warmth of sunlight coming into the home. It improves the mood, and reduces the need for lighting in the daytime, which will drive up your utility bills. Skylights are generally desirable, but most landlords to not want to undertake this expense. Large windows can open up rooms and flood the interior with plenty of natural light.
- Kitchen and bathroom renovations – it is not always easy to specify which changes renters might want, but certainly they will want these spaces to feel modern. For kitchens, muted palettes and tech amenities are hot trends these days. In bathrooms, earth tones are becoming popular. Blending looks with functionality will also win over potential renters and make your property more attractive.
- Adequate storage – if there is one thing that everyone has it’s ‘stuff’. There will be countless items that people need to put away and keep out of sight until they need them. Make sure that your rental property has enough storage and closet space and you will have happy renters.
- Outdoor enjoyment – if you can’t spring for an outdoor deck that is understandable, but you should at least make the yard inviting. Landscaping will create an enjoyable outdoor environment and increase the property’s curb appeal.
- Open floor plan – this will give the renter a bit more freedom in terms of decorating the home. For some people, an open floor plan is more inviting, and it is ideally suited for entertaining guests.
Some landlords are reluctant to spend money on renovating rental properties because it seems like a gamble. However it has been shown that kitchen and bathroom renovations in particular deliver returns on investment. Keep in mind that you don’t have to spend big to boost the home’s ambience. You don’t have to read renters’ minds, but current remodeling trends will give you some insight into what many of them are looking for. Give us a call at 505-991-0063 if you own commercial property or rental property in Albuquerque. We’ll help make sure it’s up to par when your new potential renters come knocking at the door.