Tenants want more than four walls, a roof over their head and a front door – and rightly so!
According to the Australian Census data in 2016, roughly 2.6 million households (that’s 32% of the known household tenure) were renters.
As a landlord, you can attract the right tenant with the right property features that they will appreciate.
Are you looking to increase your rental yield? Consider adding these 5 design features below.
Let the Perth property management experts at Pro Property Group show you why.
A modern kitchen
It’s true that not all landlords utilise the latest and greatest appliances and finishes to their fullest potential.
Naturally, a kitchen is a fantastic opportunity to increase your rental yield by offering the latest and greatest in appliances and technology.
Consider adding the following:
- Automated stovetops
- Smart refrigerators
- Soft-close doors and cupboards (and plenty of them).
Bring your kitchen into the 21st century (and beyond) with a focus on the futuristic. Many tenants will thank you for it.
Bathroom and laundry renovations
Again, is your bathroom and/or laundry stuck in the past? Not all bathrooms are aesthetic or functional to everybody. However, you can try your best to make them that way with some well-thought-out bathroom and/or laundry renovations.
Why bother?
- Many people look to the bathroom for calmness and comfort.
- New fittings and fixtures, a fresh new style with a focus on light-filled spaciousness make this possible.
So, consider going out with the old and in with the new bathroom and laundry style, by upgrading utilities and fixtures to provide greater appeal to the tenants you want.
Furnish the property
This is the age-old question that many landlords ask themselves at some point. Should your rental property come furnished or unfurnished?
What to consider:
- Including white goods like fridge, microwave and even clothes washer/dryer is a good start.
- However, to go further you can choose to include a nice lounge, dining table and chairs and/or even a TV or two.
The key here is to not overdo it. After all, tenants will always want to add their personal touch and creature comforts somewhere.
Go solar
Eco-friendly additions very rarely turn tenants away. In fact, solar energy can help your tenants save money on their energy consumption.
This is something to weigh up the costs and benefits to.
Enable a space for entertainment
Not every tenant is an avid entertainer, but it’s nice to create a space for entertaining for whatever and whenever their needs.
Consider adding or creating the following:
- A theatre or rumpus room
- A separate backyard studio (if on acreage or a large property) for entertaining or even to attract further rental income
- A swimming pool, trampoline, or basketball hoop/mini court.
The above will no doubt attract many families or seasoned entertainers.
Are you in need of professional property management in Perth?
Contact Pro Property Group today for a varied range of property management services that will work hard to increase your rental yield and attract the right tenants.