It’s been pretty well established that investing in the rental market is a wise choice if you can get in on the right properties. Multifamily apartment complexes—with all of their amenities included—are typically easy to brand. In most cases, they already come with a reputation, be that for good or bad. Those, of course, come with their own set of issues.
Statistics have also validated that more and more people are renting. A 2019 Freddie Mac housing survey revealed nearly 40 percent of renters report believing they will likely never own a home. That’s up from 23 percent in 2017, with 80 percent saying that renting is a better fit for their current lifestyle.
It isn’t that everyone wants to live in an apartment, either. Plenty of people would love to live in their own cozy little space. However, with such a volatile economy, many people need to be able to have something more flexible. On the other hand, others just don’t feel ready for the investment that is purchasing their own home. For many, many reasons, people are choosing to rent—and single family homes are a very attractive choice.
But how do you go about marketing single family homes? Is there a right way and a wrong way to go about exploring the benefits?
Best Features of Single Family Homes
When marketing single-family homes in a highly competitive market, it is best to highlight the features that make it the better option for renters who may still be in a quandary as to what type of property to rent. Below, we have listed the advantages of single-detached homes over apartment, townhouse, or condo units.
More Space and Privacy
One of the most apparent advantages of detached homes is the heightened privacy they provide. Unlike apartment units, detached homes stand independently, surrounded by their own boundaries, offering a more secluded living environment. With no shared walls or floors, residents can enjoy peace and quiet, free from the disturbances and noise often experienced in communal living spaces.
This exclusivity fosters a sense of personal space, allowing individuals and families to engage in activities without worrying about intrusions from neighbors. Furthermore, detached homes often have larger yards and gardens, providing additional seclusion and opportunities for relaxation.
Being able to have the entire place to yourself is definitely one of the more marketable aspects of single family homes. More room and privacy are definitely powerful stand alone selling points in their own right. When promoting the property, be sure to emphasize not only the privacy aspect, but the space, as well.
Access to Outdoor Space
Of course, privacy is always the major selling point, but often, it’s not enough to outweigh having to mow the lawn or take care of other factors that are provided in multifamily apartment housing. That doesn’t mean it’s difficult with the added maintenance—it just means a different approach in marketing is necessary.
Living in a detached home often means having access to more green spaces, whether it’s a larger yard, a garden, or nearby parks. This additional outdoor space can be particularly beneficial if you have pets, enjoy gardening, or are a fitness buff.
Having a private outdoor area also encourages residents to spend more time outside, engaging with nature and enjoying fresh air. The increased exposure to greenery has proven psychological and health benefits, reducing stress and promoting overall well-being. Moreover, detached homes situated in quieter neighborhoods may offer scenic views and opportunities for residents to connect with their natural surroundings, enhancing their daily living experience.
Detached homes offer tenants the freedom to customize and decorate their living spaces according to their preferences and needs. This is vital to renters who wish to create a living space that truly reflects their personality and lifestyle. Property owners are also able to modifying interior and exterior layouts because they have complete control over their property.
This level of personalization is rarely possible in apartment units, which typically adhere to uniform designs and guidelines set by property management. The ability to make changes and improvements in detached homes enables owners to invest in their property, increasing its value over time.
Single family homes generally offer more storage space, such as attics, basements, garages, or sheds. This allows you to store belongings, seasonal items, or engage in hobbies that require extra space. In apartments, storage space is usually limited and shared among multiple residents. Some apartment complexes do offer extra storage space, but they usually come with an added monthly fee.
More space also tends to mean less noise, so living in a single detached home can provide a quieter environment compared to apartment living. You are less likely to be disturbed by noise from neighbors or common areas, enhancing your overall peace and tranquility.
The importance of less noise in living spaces cannot be overstated, as it has a significant impact on our physical health, mental well-being, and overall quality of life.
Though many apartment complexes offer grill stations, there’s honestly nothing quite like having your own. Or a place for a swing set that is only used by your kids, a fenced-in yard, a flower bed, and a number of things that become “exclusive use” as opposed to community use you’d find in an apartment.
Parking is always a big plus when it comes to single family rentals because there aren’t other residents vying for the coveted spaces close to the entryways. Though many multi-families are now opting for assigned parking or even covered spaces, they usually come at an extra cost. Nothing beats having your own parking spot or even a garage the moment you walk out your front door.
The Icing on the Cake
All of these unique features of single-family homes are powerful selling points. But things don’t just end there.
Essentially, one of the biggest marketing assets you have in single family homes rentals is there is no mortgage to pay. Additionally, because residents don’t own but are just renting the property, the repairs and major maintenance are taken care of by the owner or property management company.
These are added major selling points that you should definitely emphasize—all the upsides of home ownership, with very few of the downsides and attachments that come along with it!