What do renters want in 2019? How can you quickly fill vacancies and retain your current tenants? How do you make sure your property stays occupied all year long?
Here’s the answer: it all boils down to giving the tenants what they want.
Renters in 2019 Want Technology
We recently wrote a whole post on this. What used to be considered an amenity is now often seen as a necessity.
Does your rental property have a smart thermostat? These help users save money on utility bills and always have the home just the way they like it.
How about a smart door lock so there’s no risk of getting locked out, or forgetting to lock the door? This is something else tenants love.
But it’s more than just smart technology. It’s also just about keeping up with the times. Double shower heads in the bathroom. USB charging ports so they don’t need an adapter. High-end sink faucets and countertops. These may sound silly to some property managers and landlords, but it’s what renters want in 2019.
Renters in 2019 Want Community Amenities
This applies more to multi-family properties, but also makes sense for a community of townhomes for rent. Tenants like amenities outside the home that
- Improve their quality of life, but also
- Offer a sense of community
Common areas like pools, gyms, front lobby, and clubhouses are a good place to start. Tennis courts and basketball courts are nice too. But think beyond these common areas.
If your community allows pets, how about a dog park? This gives your tenants a way to connect with each other, enjoy time with their pups and celebrate great weather. Plus it consolidates all of the poop in one spot. Win-win-win.
How about a shared movie theater or coffee bar? Maybe some nice gas fire pits to sit around?
Don’t get me wrong – I know that not all of your tenants will use these things. In fact, most won’t, even if they initially think they will. But simply by having these types of benefits you’re more likely to both attract and keep tenants.
Renters in 2019 Want Easy Access to Help
Renters want things to be easy. If they have a maintenance issue, they don’t want to submit a ticket, then wait for a phone call, then wait for another ticket, then wait for the maintenance guy (although they weren’t given a clear time window,) then have to answer a long survey, etc.
They want it to be easier than that. It’s fine if they have to submit a ticket, but they don’t want to be waiting around all day for this to get figured out. They want it to be as easy as possible for them. That’s where having the right property management software comes in.
When done the right way, property management software helps everyone communicate including tenants, maintenance team, the property manager and the landlord.
Renters Want a Human Experience
Last but not least, tenants want to feel like people. They don’t want to feel like just a number. They want a property manager who is easy to reach and eager to help.
Remember that business is largely about relationships. If someone is mistreated, they may leave – regardless of other factors like if the home is a great price or updated.
Make an effort to go the extra mile for your tenants. Answer their questions. Be friendly to them when they come in – even if they’re angry or frustrated. Make it clear to them that you’re there to make sure they’re happy and satisfied with their living arrangements.
These little things add up – especially in this day and age of social media and online reviews.
At the end of the day, you can argue that what renters want in 2019 is the same thing they’ve always wanted – to be well-taken care of. How that looks in 2019 is different than 20 or 30 years ago, but it’s the same general concept.
Part of that includes using the right system to manage the property. If you’re unhappy with your current solution check out Rentpost. We’d love to help make your life easier!