Everyone loves amenities. When we’re talking about the amenities available in a rental property, we’re talking about those extras that make your property stand out from all the others on the Santa Rosa rental market. Because great amenities matter to residents, the properties that offer the best amenities will earn more rent. That’s an instant boost to your short-term cash flow.
What are tenants looking for? They want a modern, attractive, and well-maintained home. They want to pay a fair rental price. Once their budgetary needs have been met and they know your property is in good condition, they start to compare the amenities they get at your home with those they’ve found elsewhere on the market.
How can you compete?
We’re taking a look at the amenities that matter most. And, because we know that upgrades and renovations are expensive, we’re focusing on the amenities that are most cost-effective. These are the amenities that will increase your rental value without requiring a huge investment from you.
As expert Santa Rosa property managers, we know what tenants are looking for and where you’ll get the most value for your money when you’re preparing a property to rent.
Try offering these amenities. You will likely notice that your property is more attractive to tenants and you’re able to charge a little more in rent every month.
Technology in Santa Rosa Rental Homes
Tenants want as much technology as you are willing to provide. Smart home appliances, thermostats, lights, and landscaping will be a big deal. Today’s tenants are modern and innovative. They want to sync the functions of your property with their phones and apps. They want to set the air conditioning to turn on before they arrive home and they want their lights to turn on automatically when they’re away.
Providing technology will increase your rental value, attract and retain great tenants, and make you more competitive in the Santa Rosa rental market.
It’s also good for your home value.
It’s not necessary to install every bell and whistle. As long as you make it easy for tenants to install what they want, you’ll be providing a valuable amenity. Make your home tech-friendly. Upgrade the thermostat and the irrigation systems. Look for energy-efficient appliances that operate on timers or via an app. This will make a difference.
Safety Features Improve Tenant Security
Safety should be more than just an amenity. But, there are specific safety amenities you can provide to make your home more attractive to tenants who prioritize security.
Some of the best safety amenities you can provide include:
- A security system. This can be expensive to pay for every month, but you can simply have it installed and available, and your tenants will have the option of activating it.
- Video doorbells. We’ve talked already about technology, and video doorbells fall into that category. These have become extremely popular, especially among single-family homes in residential neighborhoods. Tenants can see who is at the front door and watch as their packages are delivered. Some models even record a video of who comes and goes. This investment will be attractive to tenants, and you’ll be able to see anyone who approaches your property.
- High-quality exterior lighting. Consider motion-detector lights, especially on garages and any outbuildings like sheds.
Protecting your property and your tenants is a good investment. Talk to your insurance agent about these amenities you’re providing because the cost of your premium could be reduced when you make a few improvements.
How Pet-Friendly is Your Santa Rosa Rental Property?
Pet-friendly homes offer an important amenity: comfort.
Pets are important to tenants, and we know that more than half of the tenants looking for a rental home has at least one pet. So, by making your rental property pet-friendly, you’re providing more than an amenity. You’re giving those pet owners an incentive to consider your home over those that may be unwelcoming to dogs and cats.
Allowing pets doesn’t cost you any money. Think of it as perhaps the most affordable amenity you can provide.
In fact, you can earn more money by allowing pets. Here’s how:
- There’s a lower vacancy period when you rent out pet-friendly properties. You have a larger pool of tenants, so your home rents faster.
- You can charge a pet fee. This is a non-refundable fee that’s usually $200 or $300 per pet.
- You can charge pet rent. This is an additional $25 – $50 per month, per pet.
Keep a strict pet policy that requires vaccinations and flea treatments. Be clear about how many pets you’ll allow, what sizes they can be, and how many tenants may move in. The pet policy should include how you expect your tenants to care for and control their pets. Then, you can have a relatively low-risk tenancy with a lot of extra income because you’re renting out a pet-friendly home.
You can do more than simply allow pets. Pet-centric amenities like a fenced yard or a doggie park can really attract tenants who have furry family members. Provide doggie bags for mess clean-ups.
In-Unit Laundry for Santa Rosa Tenants
Laundry is an extremely important amenity, whether you’re renting out a single-family home or a multi-family property. Having a washer and a dryer in your rental home will easily raise your rent and attract a pool of good tenants. No one wants to wash and dry their clothing and linens in public spaces.
This is an amenity that’s attention-grabbing and really good at increasing the value of your rental home.
Choose affordable appliances that are energy-efficient and meet the needs of your property. If you’re renting out a smaller property, look for stackable washer and dryer units. They are economical and they’ll save on space. If you have a single-family home with an entire laundry room available, install larger machines.
Depending on the number of rental properties you own, this could seem like an expensive endeavor. But, you’ll earn back what you invest on higher rents and happier tenants. If you’re buying the machines in bulk, you’re likely to get a generous volume discount from a preferred supplier.
Replace Carpet with Hard Surface Floors
Flooring is an important amenity for tenants, especially tenants who are sensitive to pet odors, dust, and other allergens. Carpet is not as popular as it once was. It gets dirty really easily. It doesn’t look great when lots of tenant traffic causes fading.
When you install wood floors, tile floors, or even a laminate floor, you’re increasing the value of your property. You’re also getting the attention of tenants who don’t want to live with that standard-issue apartment carpet. Carpet, if you really want to keep it, may be acceptable in the bedrooms. But, consider upgrading to hard surface floors in other parts of the property.
There are many benefits to providing this amenity. Not only will your rental value increase, but your overall property value will also increase as well when you install better-quality floors. These floors are easier to maintain, more durable, and faster to clean. When you upgrade your floors, you won’t have to pull that carpet out and replace it every few years. You won’t have to steam clean it between tenants.
You don’t have to spend a lot of money. Instead of real hardwood, look for faux hardwood. Even durable, high-quality vinyl can be a great option.
Landscaping Services and Outdoor Amenities
Increase the value of your property by improving your landscaping. This contributes to better curb appeal, which helps you earn more and attract tenants quickly. Your home will look welcoming and inviting. Make sure the outdoor space is helping you market your rental home.
If you’re renting out a home with a yard, tenants are going to pay more for the property. When you provide landscaping services in the rental amount, you’re also earning more and maintaining control over how your property looks. Offer these landscaping services so tenants don’t have to worry about maintaining the yard.
Landscaping is something that your Santa Rosa 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. Find a reliable vendor, and roll the costs of hiring them into what you charge every month in rent.
Even if you’re only working with a balcony or a patio, you can make sure that space looks good. Finish any wood surfaces and paint anything that looks faded or worn. Make sure the outdoor lighting is adequate. Clear away any debris, sticks, trash, or leaves. During the leasing period, the outdoor space usually helps a tenant decide whether they’ll bother seeing your entire property.
These are a handful of affordable amenities we think will immediately increase your rental value. Every home is different, however, and we’d be happy to take a look at your specific property and make some recommendations. Please contact us at Prestige Real Estate & Property Management. We manage homes in Sonoma County, including Santa Rosa, Windsor, Sebastopol, Petaluma, and Rohnert Park.