What Features Tenants Look for in a Rental Property

Updated 9/16/24

As a landlord, understanding what features tenants prioritize when searching for a rental property can make all the difference in attracting and retaining quality renters. Today’s tenants are more discerning, with many looking for specific amenities that align with their lifestyles. Incorporating these features not only increases tenant satisfaction but can also boost rental income and minimize vacancy periods. In this article, we’ll explore the most sought-after rental features to help you stay competitive in the rental market.

Location and Accessibility

The old adage “location, location, location” still holds strong in real estate, and for tenants, it’s often one of the first factors they consider. Proximity to work, schools, grocery stores, and public transportation is critical. Tenants want to minimize their commute and have easy access to daily necessities. Walkability is another significant factor, especially for urban dwellers. Properties located near parks, restaurants, or entertainment venues are often in high demand.

However, it’s not just about proximity; safety is equally important. Tenants are more likely to rent in areas with lower crime rates, well-lit streets, and a strong sense of community. If your property is located in such areas, it’s important to highlight these features in your marketing materials to attract tenants looking for secure and convenient living spaces.

Modern and Functional Kitchens

A well-designed kitchen is often at the top of tenants’ wish lists. Gone are the days when renters would settle for outdated kitchens with little counter space and old appliances. Today’s tenants are looking for modern, functional kitchens that meet their cooking and entertaining needs. Stainless steel appliances, energy-efficient features, and ample counter space are key rental features that appeal to a broad range of renters.

Additionally, the layout of the kitchen plays a significant role. Open-concept designs, where the kitchen flows into the living or dining area, are becoming increasingly popular. This setup is perfect for tenants who enjoy hosting guests or spending time with family while cooking. If you are considering upgrading a rental property, investing in the kitchen can yield high returns and improve tenant satisfaction.

In-Unit Laundry

Convenience is a major factor when tenants choose a rental property, and one feature that stands out is the availability of in-unit laundry facilities. Many renters, particularly those in urban areas, prefer the convenience of doing laundry in their own home rather than having to use communal laundromats or shared facilities. In-unit washers and dryers are a strong selling point and can make your property stand out from competitors that lack this amenity.

If adding an in-unit laundry is not possible due to space constraints, having laundry facilities on-site is the next best thing. In either case, ensuring that these facilities are modern, clean, and well-maintained is essential to tenant satisfaction.

Ample Storage Space

Another feature that tenants frequently look for is ample storage space. Lack of storage is a common complaint among renters, especially those with families or who are downsizing from larger homes. Walk-in closets, pantry space, and storage nooks are all attractive rental features that can increase the desirability of your property.

Consider adding built-in shelving or extra cabinets where possible to enhance the storage capacity of your units. Providing tenants with sufficient space to store their belongings can reduce clutter and make the living environment feel more comfortable and organized.

Outdoor Space

As people increasingly prioritize work-life balance, outdoor spaces have become one of the most desirable rental features. A balcony, patio, or backyard can add significant value to a rental property, offering tenants a place to relax, entertain guests, or even garden. Especially in urban areas, where outdoor space is limited, properties with even small outdoor areas can demand higher rent.

If your property includes a yard, ensure it is well-maintained, with minimal landscaping that tenants can easily care for. For apartment units, having a shared rooftop garden or communal courtyard can also appeal to renters looking for outdoor space without the upkeep.

Energy Efficiency and Green Features

Eco-conscious living is gaining popularity, and many tenants are now actively seeking properties with energy-efficient features. These may include double-glazed windows, solar panels, energy-efficient appliances, and LED lighting. Not only do these features help reduce energy consumption, but they also lead to lower utility bills, which is a major selling point for tenants.

Additionally, some tenants appreciate green building materials, water-saving fixtures, and recycling facilities. Highlighting your property’s sustainability can attract environmentally conscious renters and set your property apart in a crowded market.

High-Speed Internet and Smart Home Technology

In today’s digital age, reliable high-speed internet is not just a luxury—it’s a necessity. Whether tenants work from home, stream entertainment, or engage in online learning, fast and dependable internet is one of the top rental features in demand. Landlords can attract tech-savvy renters by ensuring their properties are wired for high-speed connections and providing internet service as part of the rent.

In addition to internet access, many tenants are also looking for smart home technology. This includes features like smart thermostats, keyless entry systems, and app-controlled lighting. These technologies can enhance the tenant’s experience, providing convenience, security, and energy savings.

Parking Availability

For many tenants, especially those in suburban or less urbanized areas, parking availability is a must-have feature. Off-street parking, covered parking, or a dedicated garage space is highly desirable, especially for families or tenants who own multiple vehicles. Lack of parking options can be a deal-breaker for many renters, particularly in cities where street parking is scarce or limited by permit restrictions.

Even in urban areas where car ownership is less common, offering bike storage or easy access to public transportation can be a valuable selling point. Understanding your target market’s transportation needs will help you tailor your rental offerings accordingly.

Incorporating desirable rental features into your property can significantly increase its appeal and help you attract quality tenants. From location and modern kitchens to energy efficiency and high-speed internet, tenants are looking for comfort, convenience, and value in their rental choices. By staying informed about what tenants prioritize and making strategic upgrades, you can enhance the marketability of your properties and achieve long-term rental success.