Profitability in investment on property depends mostly on the role of the property managers. Because they are the ones who recommend which property to invest in. Depending on whether the property manager makes the right decision or a wrong one, it will either attract right tenants or drive them away. That’s why a property manager must know what the modern day tenants look for while searching for property on rent.
In a recent national survey conducted by Apartment Guide it was found that most of the tenants give priority to room space, community centers, appliances, easy access to internet and the facility of paying rents online. However, demands not remain same always. That’s where the property manager plays a key role. It is his duty to find out the liking and disliking of the renters and, thus, prepare himself and manage his property to find best possible tenants for his property. Following are some of the things that most of the tenants look for:
Some Breathing Space: This is what most tenants nowadays look for. However, it is not easy to transform an apartment and increase the square footage of the apartment. It’s costly as well as time consuming a task. Besides, the tenants may have to go through sufferings during the renovation task of the property. As a property manager, what you can do to provide your tenant with some breathing space in the simplest way possible is to make some architectural changes or adjustments within the property and, thus, make the apartments more attractive by adding extra space.
Availability of Community Space:
Community spaces like lounges, gardens, pools, grill stations etc. are now in great demand by most of the tenants of the modern time. These allow the tenants to pass some good time with their friends or neighbors. They are quite attractive to the children as well. Availability of community space also allows the tenants to arrange any event in need.
Internet Access: Easy high speed internet access allows the tenants to connect to internet without any hassle. This facility of internet access to the tenants will surely make the tenants happy. However, as a property manager, you need to make it sure that you alone don’t bear the cost.
Good Customer Service: Good customer service always attracts customers. A tenant will want that there is someone always ready to help him if he or his family faces any problem within the property area. A property manager needs to do everything possible to provide tenants with prompt customer service. Because, good customer service is what the tenants expect.
To conclude, satisfying tenants is one of the main objectives of being successful in property management. However, it is not the most difficult task to do that. What is needed is to know the demand of the tenants and provide them with what they want and in the most easiest way possible.