Top 8 Amenities Renters Can't Resist in Chicago
When landlords rent out properties, any unique or non-essential item or service provided to renters is referred to as an amenity.
As a landlord, it’s important to offer a unit that a tenant will want to stay in for the long term. Property owners frequently make renovations and install fittings to attract renters and retain long-term tenants.
Wondering which rental amenities you should add to your rental property to attract tenants? Keep reading to find out.
In-Unit Washer and Dryer
In-unit laundry facilities are a huge advantage for renters who want to skip a visit to the laundromat. If you want to stand out from the competition, consider installing a washer and dryer in your Chicago rental.
We understand that not all landlords have the same resources or kind of rental property! On-site laundry facilities in apartments are also attractive to potential tenants looking for an unit to rent!
Kitchen Renovations
When compared to other areas of a rental property, the kitchen is frequently checked more meticulously. Kitchens are a popular location in the home since people often meet there to cook and enjoy meals.
Renters want
energy-efficient and stainless steel appliances with stylish features. They prefer durable countertops made from materials such as granite that hide
wear and tear. It’s important to note that if your kitchen is open and welcoming, tenants are more likely to feel at home in the living space.
Parking for Residents and Visitors
Renters don't want to waste time looking for a parking space after work or when their relatives come to visit, so be sure to promote whether you include street parking or garage parking in your apartment amenities.
In metropolitan locations, where space is frequently restricted, assigned spots and garages are particularly sought after. Covered parking for those in rental properties is in high demand in several neighborhoods in Chicago as it protects vehicles from the weather.
In a scenario where you have more than enough parking, consider leasing out spots per night or by month. It is one of the easiest ways to bring in additional income and offer community amenities.
A Well-Maintained Space
Renters shouldn’t have to worry about
maintenance and repairs to their rental properties, which is one of the major benefits of renting vs. owning. The rental property owner or management business is responsible for repairs and maintenance. It’s important to ensure that your properties have no maintenance problems, especially when showing the space to prospective renters.
When a tenant moves in, be sure to conduct regular assessments to make sure your rental home is in good working shape! When a repair is required or a renter makes a maintenance request, you must be responsive and handle the situation quickly.
Security
One of the most important security upgrades to make is changing the property's locks between occupants. Additionally, we recommend making sure your rental property has adequate
outdoor lighting, deadbolt locks, and other security amenities.
If landlords want to make their tenants feel valued by going over and above to ensure their safety, landlords should offer or allow the tenant to install a home security system.
Smart Home Technology
Most tenants don’t initially look for this feature in rental properties, but it's a plus, especially for tech-savvy tenants. Smart technology allows communication between objects and individuals, allowing technology to work for your tenants!
Smart technology can even provide features that allow homes to warm up before you get home and lights that turn on as someone, like the renter, enters the room. Although Nest is the most popular smart thermostat, there are more budget-friendly options.
Walkability
Is your rental close to a supermarket, local educational institutions, fitness centers, or other community amenities? These are concerns that many tenants have while looking for a rental apartment. When everything is nearby and within walking distance, commute costs, time, and effort are reduced in all aspects of life!
If a brief stroll can take residents to parks, entertainment centers, and restaurants, thus, improving their quality of life. Renters may even be willing to pay more in rent for access to this kind of amenity.
Walk-In Closets and Extra Storage
You'll most likely attract tenants if your rentals have walk-in closets and built-in storage spaces, such as kitchen cabinets and pantries. Renters prefer having plenty of extra storage space so they don’t have to buy additional containers, wardrobes, or other furniture.
Consider adding a walk-in closet to your rental property if you don't already have one. The makeover may be worthwhile because walk-in closets can be installed without any intense structural alterations to the rental property.
Many renters will opt to choose a smaller bedroom with more storage space over a large bedroom with a small closet.
Bottom Line
Choosing to add amenities to your rental unit can significantly increase your monthly income and pool of prospective tenants! But, knowing which property amenities to add can be tricky!
MTD Property Management is a well-known Chicago management firm. We've become the go-to agency for dependable services because of our highly qualified workforce, quick response, and individualized attention to detail.
Our firm is here to help you realize your financial goals, whether you're a first-time or seasoned investor. Our long-term commitment to professional management experience benefits both property owners and tenants.
Don't hesitate to reach out to our property managers to see if there’s anything we can do to assist you or visit our website for more information on our comprehensive services!
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